spot_img

Liquidity Pool Program Extended – BTC/JPY Pair is Now in Scope


Liquidity Pool Program (LPP) will be extended for another 4 weeks and expanded to include the BTC/JPY pair. The participants who provide the most liquidity for the next  4 weeks will get a 1x bonus of 50k QASH!

QASH Rewards

A total of 530,000 QASH will be made available for the Liquid Pool Program:

  • 6 pairs (BTC/USD, BTC/EUR, SOL/USDT, ETH/USD, ETH/EUR, BTC/JPY)
  • 20k QASH will be distributed per pair per week for 4 weeks
  • The market participant that provides the most liquidity during this period will be granted a 50,000 QASH reward.

Liquid will burn the amount of QASH distributed as rewards to liquidity providers.

What is Liquidity Pool Program?

LPP is a rewards program that incentivizes liquidity providers based on their liquidity contribution to the selected pairs (see the list below). 

The performance is monitored and calculated on a minute-by-minute basis (using randomized sampling) and aggregated into a final score for a given market.

Orders below a certain minimum order value per market are not eligible, and orders over a certain maximum spread are not eligible. Please see the requirements in the table below:

  BTC/USD BTC/EUR SOL/USDT ETH/USD ETH/EUR BTC/JPY
Min Order Value

5000 USD

3000 EUR

5000 USDT

5000 USD

3000 EUR

575,660 JPY

Max Spread
(mid-market)

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

Reward Pool 20,000 QASH
/ Week
20,000 QASH
/ Week
20,000 QASH
/ Week
20,000 QASH / Week 20,000 QASH / Week 20,000 QASH / Week

Program Details

Start Date & Time  Duration Calculation frequency

 

Valid orders 

Monday 00:00 JST to Sunday 23:59 JST

 

4 weeks
Initial 1 month trial)

 

Minute-by-minute w/ random sampling

  • 4 x weekly programme = 10,080 x 4 = 20,160 minutes)

Weekly Contribution pool calculation notification by Tuesday 18:00 JST

Weekly distribution of rewards by Thursday 18:00 JST

How Reward is Calculated

Final Score

QEPOCH * (UptimeEPOCH)5

Where: QEPOCH is the sum of all QMIN in a given epoch.

QMIN 

=MIN (QBID,QASK)

UptimeEPOCH = % of time of the given duration where MM was quoting on both bid and ask sides with orders >= min depth and <= max spread
QBID

(BidDepth1/Spread1)+(BidDepth2/Spread2)+(BidDepthN/SpreadN)+…

QASK

(AskDepth1/Spread1)+(AskDepth2/Spread2)+(AskDepthN/SpreadN)+…

*for each ask order with BidDepth > Min Depth & Spread < Max Spread

 

** Note: Quoine Pte. Ltd. reserves the right to adjust the scoring based upon the minimum amount.

 

Participate in the program





Source link

Related Post

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

946FansLike
0FollowersFollow
7FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Post