Gate.io rewards liquidity providers to join Market Maker service
Gate.io’s Market Maker service caters to high volume traders with flexible leverage of up to 100x, a frequency of 900r/s for order placement, 5000r/s for order cancellations, and support for over 300 connections through WebSocket.
Gate.io, a global digital asset exchange with more than 1,300 coins and tokens listed on its platform with over 10 million registered users, has announced a Market Maker service as part of its Institutional Services division.
Headquartered in the Marshall Islands, Gate.io stresses the importance of market makers, a key piece of the crypto chess as they provide liquidity to both decentralized and centralized exchanges.
The cryptocurrency specialist has prepared for the role, having cemented key partnerships in the space and launched several incentives to entice more partnerships as it eyes worldwide expansion.
$200k/month prize pool, $4m loans, VIP
Gate.io’s Market Maker service caters to high volume traders with flexible leverage of up to 100x, a frequency of 900r/s for order placement, 5000r/s for order cancellations, and support for over 300 connections through WebSocket.
As to the Market Maker Incentive Program, Gate.io aims to promote its premium services by offering rewards to top liquidity providers: from a $200,000 monthly prize pool to a free 30 day VIP+1 experience, interest free loans worth up to $4 million, exclusive COLO services with millisecond updates, and more.
In order to participate in this campaign, all accounts on Gate.io or new accounts from other platforms must have exceeded trading volumes of 3000 BTC in the preceding 30 days through either spot or contract trading, said the firm, adding that users with a VIP membership between Level 8 and Level 15 are invited to participate in the campaign.
Gate.io Institutional Services covers VIP clients from around the world ranging from hedge fund firms, professional trading firms, and market makers. Nibbio, Tower Research, Banxa are already collaborating with Gate.io in the space.
The exchange offers spot, margin, futures and contract trading in addition to DeFi products through Hipo DeFi, custodial services through Wallet.io, investments through Gate Labs and its dedicated GateChain platform.
The company also offers a wholly integrated suite of products such as its Startup IEO platform, NFT Magic Box marketplace, crypto loans and more.
In late 2021, Italy’s financial watchdog CONSOB dropped the hammer on several financial websites it says were illegally promoting trading products in the country.
The long list of blocked websites, which included Gate Technology Corp (internet domains www.gate.io, www.gateio.rocks, www.gateio.ws), belong to entities that are not allowed to offer financial services in Italy but continue to solicit investments from locals.
