Derivatives (soon)

Contracts specification

Platform

Links

🤖

Market Maker Incentive Program

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.

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).

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

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:

$User SPIN = User Share * SPIN(MM) perEpoch$

Last modified 4mo ago

Copy link

On this page

How does the program work?

Algorithm for calculating the R-score of a market maker