Announcement of HashKey Exchange Market Maker Program

Dear HashKey Exchange Clients,

To recognize and incentivize users actively contributing to the liquidity of HashKey Exchange, we are pleased to announce the official launch of our Market Maker program. This initiative is designed to reward and encourage users to enhance liquidity within the platform. The program is live at 14:00 (UTC+8) on December 28, 2023.

How to apply to become a HashKey Exchange Market Maker?

Corporate or individual PI users of HashKey Exchange can apply to become HashKey Exchange Market Makers through the following steps:

1. HashKey Exchange users can apply to become HashKey Market Makers by contacting Sales/BD or sending an email to the official MM mailbox (mm@hashkey.com).
2. The content of the email should include:
   • Your name, email address, and other contact information.
   • Your HashKey Exchange account UID.
   • Proof of your market maker qualifications at other exchanges (such as screenshots of market making reports) or proof of trading volume at HashKey Exchange (at least 5 million USD monthly Maker volume).
   • Please briefly describe your market making strategy.
3. After the applicant passes the review by the HashKey Liquidity Team, we will guide you through the Market Maker Due Diligence and the signing of the Market Maker contract.
4. After completing the above steps, the HashKey Liquidity Team will officially notify the applicant to become a HashKey Market Maker via email.

HashKey Exchange Market Maker Fee Table:

During the trial period, HashKey Exchange Market Makers can directly obtain trial fees (To reward our users for their support of HashKey, users who become HashKey Exchange Market Maker before 31st May, 2024, can enjoy the Tier 1 rate as their trial fee rate). After the trial period, the Market Makers of HashKey Exchange can obtain the corresponding MM tier based on their ranking percentage of monthly average weighted depth and Monthly Maker Volume Ratio and get the corresponding maker fee rates in the next month.

Rule Details:

1. Monthly Average Weighted Depth: Calculated based on the total depth of orders placed by the market maker at ±1%, ±0.3%, ±0.1%, according to the pair weight (initially set to 1 for all pairs, subsequently notified monthly by the liquidity team through announcements, emails, group notifications, etc.).
2. Ranking Percentage of Monthly Average Weighted Depth: Calculated based on the ranking of the market maker’s Monthly Average Weighted Depth among all market makers, divided by the total number of market makers.
3. Monthly Maker Volume Ratio: The monthly Maker trading volume of market makers divided by the total monthly volume of HashKey Exchange.
4. Maker Fee Rate: To reward market makers to provide liquidity through placing orders, HashKey Exchange offers negative maker fee rates. Market makers who enjoy negative market maker fee rates will not only be exempt from paying fees after their orders are taken but will also receive fees as a reward. For example: User A is a Tier 1 market maker, and he enjoys the -0.01% maker fee rates. After the maker order of 1000 USDT is taken by other client, user A will receive a fee of 0.01% * 1000 USDT = 0.1 USDT.
5. New market makers are on trial for the current month and the next month after obtaining market maker qualifications (up to 2 months). For example: If User A becomes the market maker on January 15, 2024, then the trial period is from January 15, 2024, to February 28, 2024; If User B becomes the market maker on January 1, 2024, then the trial period is from January 1, 2024, to February 28, 2024.During the trial period, market makers are exempt from assessment and can enjoy trial fee rates:
   • New market makers, who are already participating in market maker programs at other exchanges, can avail themselves of equivalent trial fee rates at HashKey Exchange.
   • By presenting evidence of their trading activity on our exchange, market makers have the opportunity to apply for trial fee rates corresponding to their current Maker volume. If their 30-day Maker volume falls within the range of 5 million USD to 30 million USD, they qualify for the Tier 3 trial fee rate. For those with a 30-day Maker volume between 30 million USD and 100 million USD, the Tier 2 trial fee rate is applicable. Market makers whose 30-day Maker volume surpasses 100 million USD are eligible for the Tier 1 trial fee rate.
6. To reward our customers for their support of HashKey, users who become HashKey Exchange Market Maker before 31st May 2024, can enjoy the Tier 1 rate as their trial fee rate.
7. After the trial period, market makers will obtain the corresponding market maker tier based on the Ranking Percentage of Monthly Average Weighted Depth and the Monthly Maker Volume Ratio and will be given the corresponding maker rates in the next month.
8. After the trial period, if the market maker does not meet the requirement of 5 million monthly Maker volume, they will not be able to enjoy the Tier 1 to Tier 3 rates. Instead, the market maker will enjoy the same maker rates as the VIP levels based on their trading volume and assets instead.

HashKey Exchange Liquidity Team