Introduction of Market Maker Program
To recognize and incentivize users actively contributing to the liquidity of HashKey Exchange, HashKey Exchange officially launched the Market Maker program on 28/12/2023. HashKey Exchange Market Makers can enjoy -0.005%~-0.015% maker fee rates, more sub-accounts and higher API rate limit levels. For more details, please refer to the first part of the 'Market Maker Rules Explanation' in the detailed instructions below.
To apply to become a Market Maker, please click Announcement of HashKey Exchange Market Maker Program for requirements and application methods. You can also send an email to the official MM email address (firstname.lastname@example.org) or contact Sales/BD for inquiries.
Key Points of Market Maker Rules
Starting from February 1, 2024, a new market maker order placement reward will be added. Market makers can earn up to 100,000 HSK per month by providing order placement. Refer to part 2 of the 'Market Maker Rules Explanation' in the following text."
Market Maker Rules Explaination
Market Maker Fee TableTierRanking Percentage* of Monthly Average Weighted Depth*Monthly Maker Volume Ratio*Maker Fee Rate*Tier 1TOP 20%Or2%-0.015%Tier 2(20%, 50%]Or0.5%-0.01%Tier 3(50%, 75%]OrMaker Volume≥5M USD-0.005%
During the trial period, HashKey Exchange Market Makers can directly obtain trial fees (to reward our market makers for their support of HashKey, HashKey Exchange Market Maker who gets onboard before February 28, 2024, can enjoy the Tier 1 rate as their trial fee rate). After the trial period, Market Makers of HashKey Exchange can obtain the corresponding MM tier based on their ranking percentage of Monthly Average Weighted Depth which is weighted by the weights of different pairs and different layers, and Monthly Maker Volume Ratio and get the corresponding maker fee rates in the next month.
Rewards for Market Makers to Place Orders
Market makers that provide liquidity on their market-making pairs and reach a monthly average weighted depth of at least $100,000 in the current month will be eligible to receive pending order rewards as shown in the figure below:
|Monthly Average Weighted Depth
- All of the market makers who get onboard in the current month or before the current month can receive rewards for placing orders. However, whenever a market maker gets onboard, we will use the daily average of the market maker's average weighted depth on all days of the month as the Monthly Average Weighted Depth.
- Market makers can only enjoy the rewards of the highest level they can achieve, but cannot receive rewards repeatedly. If the market maker Mark's Monthly Average Weighted Depth is $500,000, Mark can receive Level E rewards, which is 7500HSK.
- The rewards will be notified by email in the following calendar month and will be distributed within 14 working days after the market maker replies to the confirmation email.
- Market makers that have made an agreement and got paid servicing fees for providing liquidity at HashKey Exchange cannot receive this reward
Market-Making Currency and Market-Making Pair: Notifications regarding these will be communicated by the HashKey Exchange liquidity team via email or group notifications. Adjustments may be made by the HashKey Exchange liquidity team based on prevailing conditions, and the latest information on market-making currencies and pairs will be disseminated through announcements, emails, or group notifications.
Sub-account and API regulations: Please refer to Announcement on HashKey Exchange's management rules of sub-accounts and API Keys.
HashKey has the right to update these rules and may adjust on a monthly or shorter-term basis. Please pay attention to related announcements, emails, and group notifications in a timely manner to obtain the latest market maker rules.
The above is a brief summary of these rules. If you want to know more details, please contact the HashKey Exchange liquidity team or other official staff.