In August, CoinEx updated its Market Makers Program, also known as the CoinEx Professional Trader Program. The update is primarily aimed at spot market makers and includes adjustments to SMP market rates.
This adjustment allows market makers to participate in the CoinEx Market Maker Program with a lower threshold, more attractive rates and more discounts.
Market makers play a vital role in the world of cryptocurrencies. It is not only the engines that keep the trading platforms going by providing massive liquidity, but also the stabilizers that maintain the balance between supply and demand and optimize the trading environment..
History tells us that market declines in the crypto industry are due to a lack of liquidity, which in turn puts market makers in trouble, and the sudden collapse of two major market makers during the last bear market. .
CoinEx’s alignment with the Market Makers Program rules not only lowers trading fees and increases discounts to provide more privileges, but also aims to embrace different groups in the crypto sector and promote positive development in the industry’s ecosystem to improve.
According to the official announcement, the details of the Market Maker program rules adjustment are as follows:
- Adjustment to monthly ranking requirements for Spot Market Makers
| Assessment Requirements | |
| For | Spot trading volume last month ≥ 5,000,000 USD |
| Now | Spot trading volume last month ≥ 1,000,000 USD |
The adjustment has significantly reduced the required monthly trading volume for spot market makers. They just need to reach the $1 million mark to be included in the monthly rankings.
- Adjustments to standard market rates and SMP market rates
- Levels, rankings and fees of spot market makers in regular markets
| Level | arrangement | For | Now | ||||||
| Creator | Creator with CET deduction | Borrower | Creator with CET deduction | Borrower | Creator with CET deduction | Borrower | Borrower with CET deduction | ||
| LV5 | ≤10% | 0% | 0% | 0.05% | 0.040% | -0.02% | -0.02% | 0.05% | 0.040% |
| LV4 | ≤25% | 0.01% | 0.008% | 0.06% | 0.048% | -0.01% | -0.01% | 0.05% | 0.040% |
| LV3 | ≤45% | 0.02% | 0.0016% | 0.07% | 0.056% | 0% | 0% | 0.06% | 0.048% |
| LV2 | ≤70% | 0.03% | 0.0024% | 0.08% | 0.064% | 0% | 0% | 0.07% | 0.056% |
| LV1 | Last 30% | 0.04% | 0.0032% | 0.09% | 0.072% | 0% | 0% | 0.08% | 0.064% |
| LV0 | / | 0.20% | 0.16% | 0.20% | 0.16% | 0.20% | 0.16% | 0.20% | 0.16% |
- Market Maker levels, rankings and fees in the AMM market
| kind of market | For | Now | ||||||
| Normal
AMM market |
stable currency
AMM market |
Normal
AMM market |
stable currency
AMM market |
|||||
| rate type | Creator | Borrower | Creator | Borrower | Creator | Borrower | Creator | Borrower |
| Normal rate | 0.30% | 0.1% | 0.3% | 0.1% | ||||
| Market Maker Fee | 0.15% | 0.05% | 0% | 0.3% | 0% | 0.1% | ||
The update lowered the taker fee for most spot market makers (LV1 to LV4). For LV5 spot market makers (the top tier), the maker fee, previously 0%, has been reduced to -0.02%, meaning no discount!
Before the adjustment, the lowest fee for spot market makers was just 0.05% (stablecoin AMM markets only); now they can enjoy 0% fees on regular and stablecoin AMM markets.
III. Adjusted cashback rules for Market Makers in the spot market
Prior to the adjustment, the top 20 market makers in terms of previous month’s trading volume were eligible for spot maker discounts.
After adjustment, spot market makers at LV4 and LV5 level can enjoy negative rate (negative rate means discount)! If the rate is negative, the transaction will be settled at a rate of 0% and the rebates will be credited to the cash account the next day in USDT.
CoinEx has long been offering extremely favorable rates to professional traders around the world through the Market Makers program. For market makers, lower fees translate into higher profits.
With the latest adjustment, CoinEx now offers even more attractive rates of -0.02% for the spot market. Lower barriers and fees, along with greater discounts and privileges and more market options, will help market makers capture more opportunities and bigger profits.
CoinEx provides easy-to-use products and stable and secure trading services to 4.5 million users in more than 200 countries and regions. This global cryptocurrency exchange aims to give users easy access to the crypto space.
In addition to the integrated trading services offered to casual traders, CoinEx also targets professional traders with unique services, with the Market Maker program being a key component. All these efforts demonstrate the exchange’s aspiration to enable the group of market makers to achieve shared prosperity.
After the adjustment, CoinEx will offer more privileges to encourage them to optimize market liquidity, which will improve the trading environment and experience for retail users.
As CoinEx continues to embrace all groups and drive progress in the industry, more investors will be able to trade cryptocurrencies with ease and freedom, unlocking their financial opportunities through CoinEx.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
