Market Maker Incentive Program

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Market makers who meet certain requirements  can participate in the SPIN token mining program for market makers. Thus, Spin will incentivize users to provide liquidity to the order book in a decentralized manner with no need  to conclude agreements with market makers.
How does the program work?
The distribution of SPIN tokens for market-making involves only those users whose maker volumes for the previous epoch exceeded 1% of the total maker volumes for this trading pair. 
Once a minute, Spin takes a snapshot of the order book. According to the algorithm described below, the R-score of each market maker who can participate in the distribution of tokens is calculated. At the end of the epoch, the sum of the user's R-score is also calculated. The market maker receives a share of the total rewards for an epoch corresponding to his share of the R-score. 
The period for which SPIN tokens are distributed is 14 days (1 epoch).
Algorithm for calculating the R-score of a market maker
Step 1. Calculating the R-score at the time of each snapshot
The criteria that an order must satisfy to be taken into account when calculating the R-score:
1.Minimum order volume - $1000 
2.Maximum spread from mid price - 30 bps or 0.3% for BTC
Step 2. After the end of the epoch, the trader's R-score is summed up for all snapshots. The total number of snapshots is 20160, with 1 snapshot per minute for 14 days.
Step 3. The percentage of the user's work time for the epoch is calculated, as shown below (depending on the number of  snapshots user's R-score was above 0)
After that, the final R-score of the user is calculated:
The final R-score of each user is divided by the total amount of R-score to calculate what share of the total rewards for market making the user will receive.
The amount of SPIN the user receives:
UserSPIN=UserShare∗SPIN(MM)perEpochUser SPIN = User Share * SPIN(MM) perEpochUserSPIN=UserShare∗SPIN(MM)perEpoch

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SPIN token

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Trader Incentive Program

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How does the program work?

Algorithm for calculating the R-score of a market maker