Dear CoinEx users,
In order to improve the liquidity of the perpetual contracts and enhance the users’ trading experience, we will launch the first perpetual contract market maker event, with a total reward of 200,000 USDT. In the meantime, we will also start to recruit market makers from all over the world and sincerely welcome all talented trading strategy teams to join us.
Duration:
0:00 March 30, 2021- 0:00 April 19, 2021 (UTC)
Contact Details
mobile/WeChat: +8618926573829
Telegram: @msgbonniehere
Email: bonnie.chen@coinex.com
Trading Markets
1. Coin-margined perpetual contracts: BTC/USD, ETH/USD, LTC/USD, BCH/USD, EOS/USD, XRP/USD, TRX/USD, BSV/USD
2. USDT-margined perpetual contracts: BTC/USDT, ETH/USDT, LTC/USDT, BCH/USDT
Event Info
This event will set up awards for the pending order group and the trading group. Market makers in different groups will share 200,000 USDT according to the rules. Details are as follows:
1. The total prize of the trading group is 100,000 USDT, which will be divided into 5,000 USDT per day based on the actual trading volume of the market maker team, and each team can obtain up to 1,000 USDT rewards per day.
Note: Trading volume = The value of each transaction is converted into USD cumulative value.
2.The total prize of the pending order group is 100,000 USDT, and the teams that meet the conditions each day will share 5,000 USDT, and each team can get up to 1,000 USDT per day. The market maker team can choose any trading market to place orders. We mainly evaluate market makers through two indicators: spread and depth. Also, we will take a snapshot of the market makers’ spread/pending orders to calculate scores every minute.
|
Spread Weight |
|
|
Spread |
Weight |
|
0～3‱ |
3 |
|
3‱～6‱ |
2 |
|
6‱～10‱ |
1 |
|
Weighted score = ∑ Spread weight of this trading pair ∗ Market value of pending orders of this trading pair/10000 |
|
Notes:
• The above price range is compared with the average value of the Bid1 price and the Ask1 price of the CoinEx platform;
• Bid1 and Ask1 refer to the highest price of a buy order (buy one) and the lowest price of a sell order (sell one);
• The average price is (Bid1+Ask1)/2 = AVG.
• 0～3‱ is calculated as:
The buy order meets the conditions as 1*AVG> price> (1-3‱)*AVG;
The sell order meets the conditions as (1+3‱)*AVG> price> (1)*AVG;
3‱～6‱ and 6‱～10‱ are the same.
• The market value of the pending order = the cumulative value of the pending order amount that meets the price range.
Privileges of special market makers
1. Exclusive API frequency enhancing service
2. Exclusive market maker level
|
MM account |
MM level |
Rate |
|
|
maker |
taker |
||
|
Existing users |
LV5 |
-0.0150% |
0.0250% |
|
New users |
LV4 |
-0.0100% |
0.0250% |
CoinEx API
The security, stability, functionality and professionalism of CoinEx API are in the leading position in the industry. With reference to the market push protocols of major global financial exchanges, CoinEx API supports full/incremental market data push. Professional investors can build a complete market depth and order book locally to use more complex trading strategies. For API details, please refer to:
Perpetual contract API: https://github.com/coinexcom/coinex_perpetual_api
CoinEx reserves the right of final interpretation of this announcement.
CoinEx Team
March 24, 2021
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