Liquidity Rewards Program
Earn daily USD rewards by providing high-quality resting liquidity on Gemini Predictions
The Liquidity Rewards Program pays makers daily USD rewards for providing resting liquidity on Gemini Predictions. Unlike maker rebates that require fills, liquidity rewards score resting orders regardless of whether they execute.
View active reward pools on the Liquidity Rewards page.
Or via API
How It Works
Each eligible event features a daily USD reward pool. Gemini distributes this pool proportionally to makers based on order book presence throughout the day.
Scoring favors tight spreads around the midpoint, larger order sizes (up to a cap), two-sided quoting, and high uptime. Quotes outside allowable spreads or below minimum sizes receive zero score.
How Payouts Are Calculated
Gemini calculates scores from per-minute order book snapshots and distributes the pool proportionally:
Snapshot score
Computed every minute for each maker on each contract:
Code
| Variable | Description |
|---|---|
| Spread weight | Quadratic curve based on quote distance from the midpoint. Tighter quotes score disproportionately higher. When the book is one-sided, the best price on your side is used as the reference instead. |
| Size | Order quantity, capped per the size cap. |
| Two-sided multiplier | Applied at any snapshot where the maker has a qualifying bid and ask on the same contract. |
Daily payout
At the end of each day, snapshot scores are summed and the pool is split:
Code
| Variable | Description |
|---|---|
| Pool | The reward pool's daily USD budget. |
| Daily score | Sum of the maker's snapshot scores across all contracts in the event for the day. |
| Total qualifying score | Sum of daily scores across all qualifying makers. |
Reward Pools
Reward pools may be assigned at either the event or contract level:
- Event-level pools apply to a single event (for example, a marquee sports matchup, an election night, or a one-off macro event).
- Contract-level pools apply to a recurring contract type (for example, BTC 15-minute hourlies or ETH end-of-day) and cover all instances of that contract type during the period.
Daily pool sizes typically range from $10 to $1,000 per day. Pool size and duration vary and are subject to change.
Active pools are published daily on the Liquidity Rewards page and available via the API.
Examples
Three makers compete on a Bitcoin event with an event-level pool of $500/day. The current bid-ask is $0.49 to $0.52, so the midpoint is $0.505.
Example 1: A single snapshot
At one minute during the day, the orderbook looks like this:
| Maker | Bid | Ask | Distance from $0.505 mid | Two-sided? | Snapshot share of scores |
|---|---|---|---|---|---|
| Maker A | $0.48 x 50 | $0.52 x 50 | 1.5–2.5¢ | Yes (1.5x bonus) | ~74% |
| Maker B | $0.40 x 200 | $0.60 x 200 | 9.5–10.5¢ | Yes (1.5x bonus) | ~5% |
| Maker C | $0.49 x 30 | (none) | 1.5¢ | No | ~21% |
Maker A dominates this snapshot even though Maker B has 4x the total size on the book. A quote 1.5¢ from the midpoint scores roughly 50x a quote 10¢ away, so tight quoting compounds. Maker B's larger size barely makes up for the wider spread.
Example 2: At end of day
After accumulating snapshot scores across the full day, the pool is split:
| Maker | Uptime during day | Qualifies? | Share of pool | Daily payout |
|---|---|---|---|---|
| Maker A | 96% | Yes | 77% | $386.50 |
| Maker B | 35% | No, below uptime threshold | 0% | $0.00 |
| Maker C | 83% | Yes | 23% | $113.50 |
Maker B's tight-snapshot scores are wasted. Stepping off the book too often disqualifies Maker B for the day. Maker A and Maker C split the full $500 pool.
Qualification Rules
The following parameters apply program-wide to all events with active reward pools. Values may be revised over time as the program evolves. Active values are always reflected on this page and via the API.
| Rule | Value |
|---|---|
| Maximum spread | 10¢ from midpoint |
| Minimum size | 10 contracts |
| Size cap | 250 contracts |
| Two-sided multiplier | 1.5x |
| Uptime threshold | 50% of eligible snapshots |
Reward Precision
The minimum daily payout is $1.00. Daily totals below this threshold are not distributed. Rewards are rounded down to the nearest cent.
Eligibility
For a resting order to count toward your score:
- The order must be on a contract that is actively tradeable at the snapshot.
- The contract must be associated with an event or contract type that has an active reward pool.
- The order must satisfy the qualification rules above.
Contracts in post-only mode are excluded from scoring. House and test accounts are excluded from rewards.
The Maker Rebate Program operates independently. Orders may earn from both programs simultaneously.
Payment
Rewards are paid daily at 5:30pm ET in USD.