Program Configuration

  • Update Frequency = Randomized 10-second intervals

Global Parameters

TierInstrumentsDaily Allocation (points)Tier Share (%)LP Share (%)Base Allocation (%)

1

ETH-USD-PERP BTC-USD-PERP SOL-USD-PERP

800’000 / 7 = 114’285.714285

80%

30%

30%

2

All other perpetuals

200’000 / 7 = 28’571.428571

20%

30%

10%*

  • Daily points allocation = 1’000’000 / 7 = 142’857.142857143 (i.e. 1 million points a week)

Maker Program Parameters

TierInstrumentsMaker Volume WeightOrder ScalingMax Spread (bps)Weight on Min (%)Quote Quality EWMA FactorVolume Decay

1

ETH-USD-PERP BTC-USD-PERP SOL-USD-PERP

80%

0.3

20

70%

20%

33.27 (corresponding to a half-life of 30minutes)

2

All other perpetuals

70%

0.2

40

70%

20%

22.18 (corresponding to a half-life of 45minutes)

  • Note that half-life can be obtained from the decay factor as : Half-life=log(2)Decay\text{Half-life}=\frac{\log(2)}{\text{Decay}}

Fee Program Parameters

TierInstrumentsFee Decay

1

ETH-USD-PERP BTC-USD-PERP SOL-USD-PERP

33.27 (corresponding to a half-life of 30minutes)

2

All other perpetuals

22.18 (corresponding to a half-life of 45minutes)

Last updated