Dear CoinEx users:
To improve spot market liquidity and further perfect user trading experience, CoinEx presents to you - "Market Maker Incentive Program". For grand opening, we have prepared a 20-day exclusive promotion for spot market makers in the first batch, and share the prize pool of 200,000 USDT! Meanwhile, CoinEx Global Market Maker Recruitment is official online and we sincerely invite all talented MM teams worldwide to join us.
The promotion details are as follows:
1. Duration
00:00 Jun 7, 2021 - 00:00 Jun 26, 2021 (UTC)
2. Participation
All spot market makers on CoinEx:
a. You are already a member of CoinEx Spot MM:
Go to promotion page and join the promotion.
Trade-driven mining: https://www.coinex.com/activity/mining/trade/13
Ask&Bid mining: https://www.coinex.com/activity/mining/bid/14
b. You are not yet our market maker:
Please feel free to get in touch via following approaches to sign up as our market maker and join on promotion page:
Email 1: suki.zhang@coinex.com
Email 2: vip@coinex.com
Telegram: @Suki_CoinEx
3. Rules
The promotion includes “Ask&Bid mining” and “Trade-driven mining”. All participated spot market makers will share the exclusive prize pool of 200,000 USDT according to the following rules:
“Trade-driven mining”
For this part, the total prize is 100,000 USDT, sharing 5,000 USDT on a daily basis. During the promotion, all spot market makers can trade in ANY spot markets to participate in the program and share the prize based on the actual executed trading volume of all participated MM accounts. The upper limit of daily prize share by each MM account is 1,000 USDT.
Note: Trading volume = The accumulated value of each transaction converted into USD.
“Ask&Bid mining”
For this part, the total prize is 100,000 USDT, sharing 5,000 USDT on a daily basis. During the promotion, all spot market makers can trade in the following spot markets to participate in the program and share the prize based on the score of all participated MM accounts. The upper limit of daily prize share by each MM account is 1,000 USDT.
(1) Spot markets available for this promotion
BTC/USDT, BTC/USDC, ETH/USDT, ETH/USDC, ETH/BTC, ETH/BCH, ADA/USDT, XRP/USDT, DOGE/USDT, BCH/USDT, LTC/USDT, TRX/USDT, ETC/USDT, EOS/USDT, DASH/USDT
(2) Scoring criteria
Mainly, the market makers will be evaluated by two indicators of spread and depth, and a snapshot of their spread/pending orders on a minutely basis to calculate scores.
|
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 on CoinEx;
• 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.
“Spot Maker Rebate”
Newly registered spot market makers who have also participated in the promotion will enjoy a month of highest Maker rebate rate:
|
Lv |
Rebate ratio of Maker tx volume (USDT) |
|
Lv3 |
0.02% |
4. Allocation
All prizes will be allocated to the spot accounts at 0:00 (UTC) on a daily basis.
5. Privileges of special market makers
(1) Exclusive fee rate: Sign up to be a market maker during promotion to enjoy Optimal fee rate.
(2) Exclusive API frequency enhancing service.
(3) Exclusive withdrawal upper limit: Up to 5M USD worth of withdrawal quota.
(4) Exclusive interest free credit: Apply for high capital allocation free of interest.
6. About 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.
API: https://github.com/coinexcom/coinex_exchange_api/wiki
For more info:
CoinEx MM：https://www.coinex.com/activity/market-maker
Becoming CoinEx MM: https://support.coinex.com/hc/articles/900004253343
*Reminder:
1. CoinEx kindly remind you that cryptocurrencies are innovative investment products with high investment risk due to price fluctuations. Please make sure to have a full understanding of digital assets before investing, rationally judge your investment ability, and make prudent decisions.
2. The final participation is subject to the successful registration on the promotion page.
3. CoinEx reserves the right of final interpretation of this announcement.
Thank you for your long-standing support in CoinEx.
CoinEx Team
Jun 4, 2021
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP