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Threshold Market Making

A Threshold Market Making campaign sets up a task for market makers to generate a specified amount of trading activity on a chosen trading pair (e.g., HMT/USDT) at a given exchange (e.g., Hyperliquid).

The purpose of this campaign is the same as a Market Making campaign. However, this type uses a different reward mechanism — offering guaranteed fixed rewards for participants who reach the volume threshold.

How it works#

In a Threshold Market Making campaign, participants execute trades on the specified pair to accumulate trading volume toward a volume threshold.

Unlike standard Market Making campaigns, this type features:

  • Fixed reward per participant — determined by campaign budget and maximum participant limit
  • Limited participant slots — the campaign allows a fixed number of participants, ensuring each qualified participant receives their guaranteed reward
  • Volume threshold (Target) — participants must reach this threshold to receive the reward
  • All-or-nothing rewards — either a participant reaches the threshold and gets the reward, or they don't and receive nothing

The system periodically retrieves trade data from the exchange API, aggregates each participant's trading volume, and determines reward eligibility.

Example#

Suppose a campaign specifies:

  • Symbol (Trading Pair): HMT/USDT
  • Exchange: Hyperliquid
  • Volume Threshold: 100,000 USDT
  • Maximum Participants: 5
  • Campaign Duration: 2 days

Participants' trading volume is compared against the volume threshold. Each participant who reaches the threshold receives a fixed reward amount.

Reward Calculation#

Fixed rewards in a Threshold Market Making campaign are determined upfront based on campaign parameters:

Daily Reward Pool = Total Campaign Fund ÷ Campaign Duration (in days)

Fixed Reward Per Participant (per day) = Daily Reward Pool ÷ Max Participants

Distribution Logic#

  • For each participant: If their trading volume ≥ volume threshold → Reward = Fixed Reward
  • Otherwise → Reward = 0

Example Calculation#

  • Total Fund: 120 USDT
  • Campaign Duration: 2 days → Daily Reward Pool = 60 USDT
  • Maximum Participants: 3
  • Fixed Reward Per Participant: 60 ÷ 3 = 20 USDT
  • Volume Threshold: 100,000 USDT

Scenario 1: All 3 participants reach the threshold

  • Participant A generated 150,000 USDT; receives 20 USDT
  • Participant B generated 120,000 USDT; receives 20 USDT
  • Participant C generated 100,000 USDT; receives 20 USDT

Scenario 2: Only 2 participants reach the threshold

  • Participant A generated 150,000 USDT; receives 20 USDT
  • Participant B generated 120,000 USDT; receives 20 USDT
  • Participant C generated 90,000 USDT; receives 0 USDT