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Earn Rewards with Liquid's Liquidity Pool Program

We are excited to announce a new rewards program where we incentivize liquidity providers based on their liquidity contribution to the selected pairs (see the list below). The program is effective from the 7th of February, 2022.
Liquidity pool incentive program on crypto exchange

Table of Contents

We are excited to announce a new rewards program where we incentivize liquidity providers based on their liquidity contribution to the selected pairs (see the list below). The program is effective from the 7th of February, 2022.

QASH Rewards

A total of 450,000 QASH will be made available for the Liquid Pool Program:

  • 5 pairs (BTC/USD, BTC/EUR, SOL/USDT, ETH/USD, ETH/EUR)
  • 20k QASH will be distributed per pair per week for 4 weeks
  • The market participant that provides the most liquidity during the initial first month will be granted a 50,000 QASH reward.

QASH Utility

Liquid will burn the amount of QASH distributed as rewards to liquidity providers.

The performance is monitored and calculated on a minute-by-minute basis (using randomized sampling) and aggregated into a final score for a given market.

Orders below a certain minimum order value per market are not eligible, and orders over a certain maximum spread are not eligible. Please see the requirements in the table below:

** Note: Quoine Pte. Ltd. reserves the right to adjust the scoring at its discretion to meet minimum criteria.

 

BTC/USD

BTC/EUR

SOL/USDT

ETH/USD

ETH/EUR

Min Order Value

5000 USD

3000 EUR

5000 USDT

5000 USD

3000 EUR

Max Spread
(mid-market)

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

50 bps

Both sides

Reward Pool

20,000 QASH / Week

20,000 QASH / Week

20,000 QASH / Week

20,000 QASH / Week

20,000 QASH / Week

Start Date & Time 


Valid orders 

Monday 00:00 JST to Sunday 23:59 JST

Duration


4 weeks
(Initial 1 month trial)

Calculation frequency


Minute-by-minute w/ random sampling (4 x weekly programme = 10,080 x 4 = 20,160 minutes)


Weekly Contribution pool calculation notification by Tuesday 18:00 JST


Weekly distribution of rewards by Thursday 18:00 JST

Description


Final Score 

QEPOCH * (UptimeEPOCH)^5


Where:

QEPOCH is the sum of all QMIN in a given epoch.


QMIN = MIN(QBID,QASK)
*calculated every minute


UptimeEPOCH = % of time of the given duration where MM was quoting on both bid and ask sides with orders >= min depth and <= max spread


QBID
(BidDepth1/Spread1)+(BidDepth2/Spread2)+(BidDepthN/SpreadN)+...

*for each bid order with BidDepth > Min Depth & Spread < Max Spread


QASK
(AskDepth1/Spread1)+(AskDepth2/Spread2)+(AskDepthN/SpreadN)+...

*for each ask order with BidDepth > Min Depth & Spread < Max Spread

** Note: Quoine Pte. Ltd. reserves the right to adjust the scoring based upon the minimum amount.
 

Frequently Asked Questions (FAQ) 

What is a Liquidity Pool Program?
Liquid pool program is a rewards program where we incentivize liquidity providers. Rewards will be distributed to liquidity providers based on their contribution to the market liquidity. Anyone can earn these rewards as long as they are quoting within the required metrics set per market.
 
How do I participate in the Liquidity Pool Program?
First, kindly ensure to fill out the signup form.

Then all you have to do is place your orders within the metrics required. For example, in BTCUSD Min Order Value 5000USDe and Max Spread (Both sides) 50 bps. So orders below Min Order Value 5000USDe are excluded and orders above the max spread of 50 bps are excluded. The calculation will be based on your trading activity.

Our system will monitor and calculate your performance on a minute-by-minute basis (using randomized sampling) and aggregated it into a final score. The final score formula QEPOCH * (UptimeEPOCH)^5 will give us the percentage of your liquidity contribution. And we will reward you based on that percentage.

In QBID and QASK, how is the denominator "spread" calculated?
(best bid+best ask)/2

How is the minimum order value calculated?
Price * quantity

When do I claim my rewards?
The rewards will be credited to the account every following Thursday.

Are there penalties for not hitting the metrics?
No penalty.

What is the minimum incentive?
There is no fixed minimum incentive as it is based on the final score percentage, the number of eligible participants, and the rewards amount of the given pair.

For any additional questions please reach out to bizdev@liquid.com.
Participate in the program

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