0x Network Volumes Reach Fresh Lows But Open New Monetary Incentive ‘Market Maker Program’
Around a fortnight back, the folks over at 0x announced the launch of an initiative called the “Market Making Program” that was designed to bootstrap liquidity to its network.
To elaborate further on the matter, we can see that the program aims to incentivize market makers to develop “fully automated liquidity solutions” on the 0x protocol. In all, there are rewards of up to USD $15k that are available for accepted applicants— on the condition that they are able to fulfill all of the pre-defined conditions set forth by the firm.
In addition to all this, it is also worth noting that 0x will be providing applicants with a whole host of developer resources and support staff in order to minimize
In closing, it should be pointed out that the aforementioned program is all set to launch at a time when the 0x network is facing annual lows in terms of its network volume— with its current 7-day rolling average (trading volumes) running at a $220k clip (thus indicating a YTD of more than 50%).
Last but not Least, the Market Making Program is one of the many initiatives that have been planned by the 0x team for the year. Not only that, but the firm also plans on releasing many developer tools in the coming months so as to attract more market makers to its ecosystem.