#SwitcheoGreetings Day 3

Switcheo Exchange — Maker Rebates Program

It’s the season of giving, and there is no better time to introduce our Maker Rebates Program!

Starting from 7 January 2019, market makers will be able to enjoy a rebate when a trade is executed on their orders, giving them an effective trading fee of as low as -0.1%.

This program is meant to encourage an injection of liquidity into our exchange for traders willing to take exposure risk.

What is a maker?

A maker is someone who places an order that is not immediately matched and rests on the order book until it is matched and filled by another order. These orders help to “make the market” by adding liquidity to the order book.

When placed at a competitive price, these orders reduce price slippage when a trade is executed on the exchange, making Switcheo Exchange a more attractive trading venue.

In return for helping to build the liquidity pool, Switcheo Exchange will start to pay makers a rebate when their open order is filled by another trader.

What is a taker?

A taker is someone who places an order that is successfully matched and instantly executed against another existing, open order on the order book. These orders remove liquidity from the order book.

Being a taker eliminates price volatility as it allows for trades to be performed in real-time, without any delay. Trading and network fees are therefore charged to the taker when the order is executed as a taker.

A more detailed explanation of a maker and taker can be found here.

How it works