Bitget Enhances Its Liquidity Incentives and Implements a New Rating Framework

Cryptocurrency exchange Bitget The company has announced updates to its liquidity incentive initiative, which will be in effect starting May 1st at 8:00 AM (UTC).

The classification of market makers within this program will depend on specific qualifications. Newly onboarded market makers will receive a provisional tier that holds for both the current and subsequent month. After two months, if their performance shows improvement, they can automatically be elevated to a higher tier. From the third month on, adjustments to tiers and benefits will take place on the first of each month considering the previous month’s activity.

When aspiring to join as market makers, applicants are required to submit appropriate supporting evidence reflecting their trading focus. Spot market makers need to provide documents associated with spot trading, while those targeting futures must present relevant futures trading documentation. If an applicant seeks to be recognized as both, submissions for each category are necessary.

Market makers will be divided into five tiers based on their USDT account holdings. For Tier 1, a minimum of 2 million USDT is required, while Tier 2 mandates over 1 million USDT, Tier 3 demands more than 500,000 USDT, Tier 4 expects over 100,000 USDT, and Tier 5 is for those with more than 50,000 USDT. Once they meet the criteria for a higher tier, market makers can apply for an upgrade.

For those involved in spot trading, tier evaluations hinge on their market-making volume, with the tier rank determined by their volume standings in USDT or an equivalent market-making score. The weighting for these rankings differs by tier: Tier 1 weighs volume at 10%, Tier 2 at 20%, Tier 3 at 40%, Tier 4 at 60%, and Tier 5 at a full 100%.

In a similar fashion, futures market makers will undergo assessment based on their market engagements, dividing futures trading pairs into Groups A and B (the latter encompassing all pairs outside Group A). The same tier-weighting metrics as used for spot market makers will apply here, with rankings resulting in Tier 1 using a 10% weight, Tier 2 at 20%, Tier 3 at 40%, Tier 4 at 60%, and Tier 5 at 100%.

Market makers will reap benefits from the higher tier available between their spot or futures rankings. For instance, Tier 1 market makers can utilize up to 50 sub-accounts, enjoy a daily withdrawal ceiling of 40 million USDT, and an API request limit of 100 requests per second for both spot and futures trading. Tier 2 market makers will have access to 20 sub-accounts and a 30 million USDT withdrawal cap, paired with an API limit of 80 requests per second. Although Tier 3 shares benefits similar to Tier 2, it adjusts the withdrawal limit to 25 million USDT. Meanwhile, both Tier 4 and Tier 5 market makers will enjoy an API limit of 60 requests per second across spot and futures, in addition to withdrawal limits ranging from 20 million USDT for Tier 4 to 15 million USDT for Tier 5.

What Exactly Is The Bitget Liquidity Incentive Program?

The Bitget Liquidity Incentive Program aims to entice and reward market makers who enhance liquidity within the Bitget platform. This program offers a levels-based benefits system tailored to trading volume and market engagements, providing competitive rebates and additional rewards.

Market makers are categorized into five distinct tiers, depending on their asset holdings, verified tiers from other exchanges, and their 30-day maker volume on Bitget. Each tier is accompanied by its own fee structures for makers and takers, with higher tiers enjoying more favorable conditions.

For newcomers in the market-making arena, an initial tier will be assigned, which remains applicable for the current month as well as the next. From the third month onwards, tiers and benefits will be reassessed monthly in line with the market maker’s performance during the prior month.

The program also extends various extra advantages, including access to lower interest rates on borrowed funds, flexible repayment plans, and multi-currency lending services tailored for institutions. Market makers exhibiting outstanding performance may also gain preferential treatment in terms of quote rankings and priority access to bonus initiatives tied to specific spot trading pairs.

To get involved in this program, market makers are required to furnish relevant supporting documents, specifically tailored to their trading focus on either spot or futures. The program welcomes both novice and established market makers, provided they meet specified entry criteria.