The NEW FLEXMaker Program
(Last edited on 6th April, 2020)
As part of our new set of offerings to our various supporters and users, we at CoinFLEX will be updating our Designated Market Making (DMM) program. Overview and main points below. Note that these are all subject to change.
Please contact anyone on our team for more details and questions!
The NEW FLEXMaker Program
Participants are awarded on FLEXMaker Score
FLEXMaker Score (calculated daily 0:00:00 UTC – 23:59:59 UTC):
[Maker Volumes in XBTUSDT (frontend contract) per day] x [Percentage of Time Qualifying Criteria is satisfied]
Why do we do this?
- Maker volumes naturally reward those who show tighter markets
- Besides trading large volumes, we also need consistent liquidity. The “Percentage of time” criteria rewards MMs who show consistent markets over the 24 hours
Qualifying Criteria (ALL need to be satisfied):
- 5 XBT bids and 5 XBT offers shown within 25bps, PLUS
- 10 XBT bids and 10 XBT offers shown within 50bps , AND
- [Percentage of Qualifying time] >= 75% daily
Why?
- Easier requirements make it easier to participate
- High uptime percentage is emphasized for liquidity at most times of the day
Rewards:
Market Markers who have opted into the program will receive a 0.3 basis point rebate on Maker Volume each day if they meet the qualifying criteria.
- Do note that if you don’t meet the Qualifying Criteria you will not be scored
Rewards are paid 2200 UTC of the next day
Any more questions please find us, or email [email protected]
Happy Trading!
* For the sake of clarification, in an expiration month, the following contracts will be used in the DMM calculation. This is due to the futures maturity roll:
– Wednesday before the last Friday of the month: Front-end contract
– Thursday before the last Friday of the month (and going forward): The contract after the front-end contract closest to maturity.