Market makers on Mushino automatically qualify for VIP status, based on their market making performance:
|
VIP Level |
Bid Size |
Ask Size |
Time In Market |
10% spread |
50% spread |
90% spread |
|
VIP1 |
> $10,000 | > $10,000 |
> 12 hours / day |
< 0.04% |
< 0.08% |
< 0.24% |
|
VIP2 |
> $50,000 |
> $50,000 |
> 15 hours / day |
< 0.04% |
< 0.08% |
< 0.24% |
|
VIP3 |
> $100,000 | > $100,000 |
> 18 hours / day |
< 0.04% |
< 0.08% |
< 0.24% |
| VIP4 | > $200,000 | > $200,000 |
> 21 hours / day |
< 0.04% |
< 0.08% |
< 0.24% |
|
VIP5 |
> $500,000 |
> $500,000 |
> 22 hours / day |
< 0.04% |
< 0.08% |
< 0.24% |
* During a Fast Moving Market, the thresholds for the 10% spread, 50% spread and 90% spread are doubled.
Terminology
Bid Size
The total value of all of your open buy orders. To qualify for VIP status as a market maker, this value must exceed $10,000 whenever you are actively quoting.
Example:
John places 5 limit buy orders, each with a value of $10,000.
John's Bid Size is $10,000 * 5 = $50,000.
Ask Size
The total value of all of your open sell orders. To qualify for VIP status as a market maker, this value must exceed $10,000 whenever you are actively quoting.
Example:
John places 5 limit sell orders, each with a value of $10,000.
John's Ask Size is $10,000 * 5 = $50,000.
Time In Market
The total number of hours, during which you are actively quoting. To qualify for VIP status as a market maker, you must be publishing quotes for at least 12 hours a day.
Example:
John places 5 limit buy orders, and 5 limit sell orders, and updates each of them every 3 seconds.
After doing so for 13 hours, the market becomes too volatile, and John decides to cancel his orders.
John does not place any more orders for the remainder of the day.
John's Time In Market is 13 hours.
10% spread
At least 10% of your Bid Size, and at least 10% of your Ask Size, must be within this percentage spread.
50% spread
At least 50% of your Bid Size, and at least 50% of your Ask Size, must be within this percentage spread.
90% spread
At least 90% of your Bid Size, and at least 90% of your Ask Size, must be within this percentage spread.
Fast Moving Market
A market that has moved more than 10% within the previous 2 hours.
Notes
- Your core performance metrics (Bid Size, Ask Size, Time In Market, 10% spread, 50% spread, 90% spread) are calculated on a rolling 30-day basis.
- Your core performance metrics are aggregated across all trading pairs.
- Your VIP level is updated automatically, based on your Market Making performance.
- You will receive an email notification when your VIP level changes.
- Your current VIP level is shown in your account settings. If your VIP level is None, nothing is shown.
- In addition to their VIP benefits, Market Makers will have a direct line to a Senior Developer at Mushino - who will be able to answer any API-related questions.
- Mushino reserves the right to interpret, modify, change, or remove the Market Maker program at its sole discretion and will review it periodically.