Exchange operators are often looking for people who can generate extra liquidity on their platform. Rewarding those users for doing so ensures there is a mutually beneficial relationship, The new offer by Bitfinex may prove to be of great interest to stablecoin traders.
Rewarding Bitfinex Traders Providing Liquidity
Ensuring an exchange remains at the top of the industry is not an easy task. Many factors contribute to the success of a trading platform. Core aspects include having a reliable trading engine, catering to new users, offering ample markets, and ensuring there is sufficient liquidity. This latter aspect can often be a lot trickier than initially expected.
Bitfinex acknowledges that liquidity providers deserve to be rewarded. As such, the company now offers zero-fee trading on USDt/USD trading. This offer applies to users who generate over $15 million in monthly volume on the platform.
The zero fees offer applies to both maker and taker orders. Reaching the $15 million threshold will trigger the reward automatically. Given the popularity of Tether’s USDT stablecoin, there has always been ample liquidity in this segment already. Bitfinex deems it time to take this market to the next level.
Bitfinex CTO Paolo Ardoino adds:
“As a growing hub for professional traders in the digital asset space, Bitfinex is an exchange that is always listening to our user base. This zero fees offering on the USDt/USD pair makes arbitrage and market making across USD and USDt pairs more effective and also represents a way of rewarding our active, high volume customers for their loyalty.”
Adding this offer to the list of existing products and services is an interesting decision by Bitfinex. The company’s margin trading with up to 5x leverage has proven to be successful.
Derivatives trading is also available on the platform. Providing this service is iFinex Financial Technologies Limited.
Overall, the industry-wide derivatives trading volume has picked up during the first half of 2020. Competition in this space will make crypto assets more appealing to institutional traders.
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