OPNX Exchange To Launch Monthly Subsidy Of Up To $500,000

The OPNX Market Maker Program is an initiative designed to incentivize liquidity from market makers who meet specific qualifications. The program has two main components: a $5,000 monthly stipend for up to 200 VIP market makers and a payout of $50,000 to $500,000 per month pro rata by maker volume.

To qualify as a VIP market maker, one must have a 70% uptime in two-way quotes on BTC and ETH perp or spot markets. The two-way quote spread must be within 0.25% and at least $10k in size per market per side.

Under the $5K Monthly Stipend, OPNX will pay out $5,000 per month to any market maker that does 5% of OPNX’s maker volume in BTC and ETH perpetual futures contracts over the course of the month. Initially, up to 19 firms or individuals will be eligible for these rewards. Over time, the program will be scaled out by lowering the Maker Volume Target from 5% to 0.5% as exchange volumes grow. Once the average daily volume hits $50M daily, the threshold will be lowered to 4% until the percentage required to get the $5K reward gets to 0.5%. The daily volume threshold is a 30-day average.

The $50K – $500K per month pro rata by Maker Volume component pays out depending on OPNX’s 30-day average daily volume. A minimum of $50K per month will be paid out to all market makers by maker volume, pro rata, across all VIP MMs. The maximum payout for this component will be $500K per month.

The OPNX Market Maker Program is a notable initiative that aims to incentivize liquidity from market makers who meet the qualifications. Interested market makers can check the qualifications for VIP status and aim for the $5,000 monthly stipend or the payout of $50,000 to $500,000 per month pro rata by maker volume.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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