Dear CoinEx users:
The first batch of "CoinEx Market Maker Incentive Program" for spot market makers has received great popularity among all spot market makers on CoinEx. To further improve perpetual contract market liquidity, CoinEx is delighted to launch the second batch of "CoinEx Market Maker Incentive Program" - perpetual contract market makers can share 200,000 USDT exclusive prize pool! The promotion details are as follows:
1. Duration
00:00 Jun 17, 2021 - 00:00 Jul 06, 2021 (UTC)
2. Participation
All perpetual contract market makers on CoinEx
a. You are already a member of CoinEx Perpetual Contract MM:
Go to promotion page and join the promotion.
Trade-driven mining: https://www.coinex.com/activity/mining/trade/16
Ask&Bid mining: https://www.coinex.com/activity/mining/bid/17
b. You are not yet our market maker:
Please provide the proof of trading volume on other platforms (Monthly trading volume ≥ 10,000,000 USD) via the following approaches to sign up as CoinEx market maker, and join on promotion page to participate.
Email 1: suki.zhang@coinex.com
Email 2: vip@coinex.com
Telegram: @Suki_CoinEx
3. Trading Market
The existing trading pairs of CoinEx perpetual contract market.
4. Rules
The promotion includes “Ask&Bid mining” and “Trade-driven mining”. All participated perpetual contract market makers will share the exclusive prize pool of 200,000 USDT according to the following rules:
“Trade-driven Bonus”
For this part, the total prize is 100,000 USDT, sharing 5,000 USDT on a daily basis. During the promotion, all perpetual contract market makers can trade in ANY CoinEx perpetual contract 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 shared by each MM account is 1,000 USDT.
Note: Trading volume = The accumulated value of each transaction converted into USD.
“Ask&Bid Bonus”
For this part, the total prize is 100,000 USDT, sharing 5,000 USDT on a daily basis. During the promotion, all perpetual contract market makers can trade in ANY CoinEx perpetual contract 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 shared by each MM account is 1,000 USDT.
The scoring criteria will be as follows:
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.
5. Allocation
All prizes will be allocated to the participants' Perpetual Account at 0:00 (UTC) on a daily basis.
6. 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.
7. 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:
1. CoinEx MM：https://www.coinex.com/activity/market-maker
2. 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 11, 2021
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