Bitget Upgrades Liquidity Incentive Program And Introduces New Grading System
In Brief
Bitget has updated its liquidity incentive program, introducing a tiered system for market makers based on account assets and performance, effective from May 1st.
Cryptocurrency exchange Bitget announced that it has updated its liquidity incentive program, which will take effect on May 1st at 8:00 AM (UTC).
The market maker tiers within the program will be determined based on specific criteria. For new market makers, the initial tier assigned will apply for both the current month and the following month. If, after the second month, the assessment tier surpasses the initial one, the market maker will be automatically upgraded. Starting from the third month, the tier and benefits will be adjusted on the first day of each calendar month based on the market maker’s performance from the previous month.
When applying to become a market maker, applicants must provide relevant supporting documents based on their area of focus. Spot market maker applicants should submit documents related to spot trading, while futures market maker applicants should provide documents relevant to futures trading. Those applying to be both spot and futures market makers must submit documentation for both.
Market makers will be placed into five tiers based on their Bitget account assets in USDT. Tier 1 market makers must have over 2 million USDT in assets, Tier 2 requires over 1 million USDT, Tier 3 over 500,000 USDT, Tier 4 over 100,000 USDT, and Tier 5 over 50,000 USDT. Market makers meeting the requirements for a higher tier may apply for the next tier once they qualify.
For spot market makers, the assessment for tier placement is based on market-making volume, with the highest applicable tier being determined by the spot maker volume ranking in USDT or a similar spot market-making score ranking. The weight of these rankings varies by tier, with Tier 1 using a 10% weighted volume, Tier 2 using 20%, Tier 3 40%, Tier 4 60%, and Tier 5 100%.
Similarly, futures market makers will be assessed based on their market-making activity, with futures trading pairs divided into two groups: Group A and Group B (the latter including all pairs not in Group A). The assessment for futures market makers follows the same tier-weighting structure as spot market makers. The weighted futures maker volume ranking is used for assessment, with Tier 1 using 10%, Tier 2 20%, Tier 3 40%, Tier 4 60%, and Tier 5 100%.
Market makers will benefit from the higher of their spot or futures tier. For example, Tier 1 market makers will have access to 50 sub-accounts, a 40 million USDT 24-hour withdrawal limit, and an API rate limit of 100/s for both spot and futures markets. Tier 2 market makers will receive access to 20 sub-accounts, a 30 million USDT withdrawal limit, and an 80/s API rate limit. Tier 3 has similar benefits to Tier 2, but with a 25 million USDT withdrawal limit. Meanwhile, Tier 4 and Tier 5 market makers will have an API rate limit of 60/s for both spot and futures, along with withdrawal limits ranging from 20 million USDT for Tier 4 to 15 million USDT for Tier 5.
What Is Bitget Liquidity Incentive Program?
The Bitget Liquidity Incentive Program is designed to attract and reward market makers who help improve liquidity on the Bitget exchange. This initiative offers a tiered benefit system that is based on trading volume and market-making activity, giving participants competitive rebates and additional incentives.
Market makers are divided into five tiers according to their account assets, the proof of tier on other exchanges, and the 30-day maker volume on Bitget. Each tier has its own set of maker and taker fee rates, with those in higher tiers receiving more advantageous conditions.
For new market makers, an initial tier will be assigned, which will remain valid for both the current month and the following month. From the third month onward, tiers and benefits will be reassessed monthly based on the market maker’s performance in the previous month.
The program also provides several additional benefits, such as access to low-interest rates on over-allocated funds, flexible repayment options, and multi-coin institutional lending services. Market makers who perform exceptionally well can also enjoy preferential quote rankings and priority access to bonus projects related to specific spot trading pairs.
In order to participate in the program, market makers must submit relevant supporting documentation based on whether they are focusing on spot or futures trading. The program is open to both new and existing market makers, with certain criteria required for onboarding.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
