“To incentivize more users to provide liquidity, we will officially launch the market maker project starting from 2023/12/28,” the exchange wrote.
HashKey, one of the first crypto exchanges to be licensed in Hong Kong, will soon allow individual and enterprise market makers to provide liquidity on the exchange.
According to the Dec. 5 announcement, individuals and entities can apply to be market makers on HashKey, provided that they trade at least $5 million worth of cryptocurrencies per month on the exchange. After a review of their business plans, approved applicants will be invited to sign a contract with the exchange’s due diligence team and begin trading on Dec. 28.
Depending on monthly rankings or trading volume, users and firms will receive between 0.005% and 0.015% of transaction value as commission. That said, users and entities must demonstrate a trading volume of at least $100 million per month to enjoy the highest tier of commission revenue. All market makers are exempt from paying commission fees on trades.
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