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, six monthly prize pools worth 250,000 USDT each will be available for the taking. That's a whopping total of 1,500,000 USDT to be won!

The maximum spreads allowed for BTC, ETH and SOL are 15 bps, 20 bps and 30 bps respectively.

Cover at least 60% of delta 0.1 – 0.6 strikes across at least two expiries daily for any underlying asset. Only quotes within the maximum allowed spread will count.

Snapshots will be taken every minute to check for your coverage. Here's how your total daily coverage is calculated:

If your coverage for T is 60% and 40% for T+1, the total coverage for the day is (60% + 40%)/2 = 50%. This does not meet the minimum delta coverage of 60%.

If your coverage for T is 70% and 50% for T+1, the total coverage for the day is (70% + 50%)/2 = 60%. This meets the minimum delta coverage of 60%.

The monthly prize pool will be split into smaller, daily prize pools, where 90% will be allocated to weekdays, and the remaining 10% to weekends. Thus, your rewards will be calculated on a daily and pro-rata basis, depending on the eligibility of your trades. Here's how the daily prize pools are calculated:

Weekday Rewards: 90% × 250,000/(No. of weekdays in calendar month)

Weekend Rewards 10% × 250,000/(No. of weekends in calendar month)

For example, there are 22 weekdays and eight (8) weekends in November. Therefore, the total amount of rewards to be earned on a weekday and weekend day in November are as follows:

To be eligible for the daily prize pool, your Maker volume should be above 10% of the total Maker volume for the day. For Market Makers on Paradigm, there are no quoting obligations for blockading, and the blockading Maker volume will count toward the market share of the total Maker volume.

Please contact your Account Manager or our Institutional Services team via 

Merry Market Makers Program (Options Edition): Grab a Share of the 1,500,000 USDT Prize Pool!

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