Market Maker Program Veridex is launching a Market Maker Program to help provide liquidity on Veridex and all related dex's.
0x in each trade collects a protocol fee to incentivize market makers. We are returning back this protocol fee in form of VSF.
How it works:
- Register as Market Maker on this page
https://dex.verisafe.io/#/erc20/join-as-maker with your wallet and place orders at Veridex, orders on Veridex had 0% maker fee.
- Earn rebated fees from the takers of your orders. Veridex had a 0.3% taker fee, when this fee is ETH, half of the value will rebate to you - To be added on future
- Earn VSF at each epoch (every 10 days) in the value of protocol fee collected by your maker address trades.
Requirements:- You need to be registered as maker address at Veridex pool
- You need to get at least 10 orders filled per epoch wherein these orders you are the maker address.
- You need to provide your telegram account with us and join Veridex Market Maker group
Frequently Asked Questions
What is a market maker?
A market maker is a trader that makes orders on the orderbook to provide liquidity. In 0x, orders are composed of makers and takers, who makes the order to be filled is the maker, who fills the order is the taker.
How you compute the VSF I will receive? We created a script that collects all trades made in each epoch on Veridex and computes all orders where you are the maker. If you get to match more than 10 times you are eligible to get rewards. You could check and run it by yourself the script at
https://github.com/VeriSafe/market-maker How much is the cost of being on the program? You have no costs to belong to the program. You will need on each token where you go to trade to do an allowance to 0x smart contract, and that's it. Then each order you place you pay no gas to do it.
Why I need to give my account address? The script filters the maker address's to compute the rewards.
Why I need to be on the Market Maker telegram group? You will receive premium support regarding Veridex and help when needed.
How much I could, in theory, be rewarded? If you are a trader, besides profit from your trades you will profit each time your order is filled. Each 0x order collects around
0.0012 ETH (this value depends on gas), if you get 10 orders filled you will generate 0.012 ETH if 100 orders you will generate 0.12 ETH. It will be converted to VSF on the current market price.
