FLEXMaker Program

The NEW FLEXMaker Program

(Last edited on 30th January, 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!

Main Changes

Previously, the Flippening DMM program:

  • Had up to 10 participants (no more)
  • Needed to show liquidity within a bid ask spread
  • Fixed payment monthly if this was achieved

The new FLEXMaker program is:

  • Open to anyone who opts-in
  • Main qualifying criteria is Maker Volume and Percentage Uptime (meeting requirements)
  • Rewards are based on rank and awarded daily

The NEW FLEXMaker Program 

Participants are ranked 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):

  • 8 XBT bids and 8 XBT offers shown within 20bps, AND   
  • Total size of 15 XBT bids and 15 XBT offers shown within 40bps , AND
  •  [Percentage of Qualifying time] >= 75% daily

Please note that this is the total size quoted. So the requirement is 8 XBT 20bpsd wide plus another 7 XBT 40bps wide.


  • Easier requirements make it easier to participate
  • High uptime percentage is emphasized for liquidity at most times of the day
  • Requirements above will likely be more stringent going forward.


10,000 USDT given out daily:

  • ALL users on the exchange are ranked by FLEXMaker Score
  • Top 10 get rewards, split pro-rata based on FLEXMaker Score

100 USDT paid out daily to the top 30 users ranked by FLEXMaker Score

  • Do note that if you don’t meet the Qualifying Criteria you will not be scored

Rewards are paid 1 day later


  • Uptime is rewarded
  • Top 10, pro-rata ensures best liquidity providers are rewarded
  • Top 30 reward lowers barrier to entry for interested participants
  • Daily reward allows participants to tailor strategies
  • Rewards paid later in case of disputes and miscalculations

OKEX Flippening Incentive

  • Requirement:  CoinFLEX’s total futures contract volumes across all futures products (except for Stablecoin to Stablecoin futures products) surpass OKEx’s volumes in Weekly Futures, Bi-weekly Futures, Quarterly Futures and Perpetual Swaps in February and March 2020.
  • $10m paid out pro-rata to the top 10 firms based on their FLEXMaker Score for the months of February and March 2020

“I am interested in this program, but it’s hard for me to commit FLEX for low fees when I don’t know if my strategy works out”

We offer DMM status for new makers:

  • Checking “Apply for DMM Status” on the dashboard “opts in” to the DMM program.
  • DMMs get the following benefits:
  • 0bps Maker fees, for one month
  • ONE TIME benefit


  • Staking FLEX is the best way to lower Maker Fees. With the DMM program new makers can test their strategy to see if it works. This is a one-time offer. Please make sure you are ready on the API side before signing up. Can contact us with more questions. We have a risk team who can help with API onboarding, etc.


Users will be able to track (via a dashboard within CoinFLEX):

  • Their FLEXMaker rank
  • The FLEXMaker rank of those 2 places above and 2 places below them
  • Qualification Details
  • Historical Volume and Rank data


  • More data to tune one’s market making strategy

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.