Our Liquidity Provider Reward program is set to launch during GRVT’s Mainnet launch. We will provide more updates closer to the date.
What are rewards based on?
Provide liquidity and execute both buy and sell orders. Earn a higher Liquidity Provider points by quoting tighter within a maximum considered depth. Tokens are awarded based on your relative Liquidity Provider points.
Reward Pool
The Liquidity Reward pool contains 4% of total GRVT tokens, distributed from Epoch 1 until the first 18 months of our Mainnet launch.
How to join
Reach out to [email protected] to apply.
Calculation for Perpetual Markets
Token Distribution based on Liquidity Provider Points
Note: Calculations over accrued Liquidity Provider (LP) points will begin at the start of the month 00:00 UTC and last until the end of the month 00:00 UTC. We will take a snapshot on a monthly basis.
User's Liquidity Provider Points (per Epoch)
Sum of all LP points across all Underlying (e.g., BTC perp, ETH perp, SOL perp, etc.)
Liquidity Provider Points per Underlying
Sum of Liquidity Points over a month multiplied by the Market Share Multiplier
Note: A snapshot is taken every minute. We take the sum of the points over the snapshots, calculating from the start of the month (0:00 UTC) to the end of the month (0:00 UTC).
Liquidity Provider Points
Sum of your Ask Score and Bid Score multiplied by the Underlying Multiplier
Important Note: regarding the AskScore (BidScore), we only consider the quotes (from the best price to the worst) with cumulative sum of USDT notional cut by a “Depth Cutoff” (cutoff values subject to change):
Category 1 (BTC, ETH, SOL)
Category 2 (ADA,BNB,DOGE,LINK,OP,TON,MATIC,XRP)
Category 3 (ARB,ATOM,GRT,IMX,NEAR,ONDO,PEPE,WIF,ZK)
Spread Score
The Price Spread is configurable.
For the Ask side:
Exception is if there is no bid in the orderbook, then we will use the best ask instead.
For the Bid side:
Exception is that if there is no ask in the orderbook, then we will use the best bid instead.
The Target Spread can be subjected to change:
Category 1 (BTC, ETH, SOL)
Category 2 (ADA,BNB,DOGE,LINK,OP,TON,MATIC,XRP)
Category 3 (ARB,ATOM,GRT,IMX,NEAR,ONDO,PEPE,WIF,ZK)
Underlying | Target Spread |
Category 1 | 4 bps |
Category 2 | 15 bps |
Category 3 | 30 bps |
Depth Score
USDT notional of the quote. If the cumulative sum of USDT notional of all quotes exceeds the Depth Cutoff, then per the last quote involved, only a partial of the notional will be considered.
For example, if:
Then both of bid 1 and bid 2 will be considered in the above calculation, but for bid 3, only a portion (i.e., Depth Cutoff - Bid 1 Size - Bid 2 Size) will be involved.
Depth Score for bid 1 and bid 2 are their USDT notional respectively.
For bid 3, the Depth Score would be calculated as:
Fast Market Multiplier
Fast Market Multiplier incentivizes maker quotes during volatile markets, categorized as BID FastMarket or ASK FastMarket.
Side | Multiplier |
Fast Market (BID) | 100x |
Fast Market (ASK) | 100x |
These conditions are based on a x% cutoff based HIGH LOW range within 2 hours, signaling significant market movements either upwards (ASK FastMarket) or downwards (BID FastMarket), where x depends on the coin’s Category, as follows:
Category | Underlying | Multiplier |
Category 1 | BTC, ETH, SOL | 5% |
Category 2 | ADA, BNB, DOGE, LINK, OP, TON, MATIC, XRP | 7% |
Category 3 | ARB, ATOM, GRT, IMX, NEAR, ONDO, PEPE, WIF, ZK | 9% |
During a BID FastMarket, each BID SpreadScore and DepthScore is multiplied by 100x.
During an ASK FastMarket, each ASK SpreadScore and DepthScore is multiplied by 100x.
Note:
FastMarketMultiplier (just like the other parameters) is subject to change depending on market conditions.
GRVT will alert all traders during fast moving markets on the interface, indicating that the Fast Market Multiplier is in place for all maker orders.
Underlying Multiplier
Category 1: BTC or ETH or SOL: 1x (configurable)
Category 2: some Alt-coins 2x (configurable)
Category 3: some other Alt-coins 3x (configurable)
Market Share Multiplier
For the Maker Volume Market Share of each market maker, we will:
Compute the monthly total USDT notional of all executed maker order
Compute a market share (%) for each market maker
Calculate on an hourly basis
Apply your Market Share Multiplier of the previous hour to your points for the following hour