# Liquidity Rewards Program

**Earn daily USD rewards by providing high-quality resting liquidity on Gemini Predictions**

Gemini Predictions has implemented a Liquidity Rewards Program alongside the Maker Rebate Program. While the Maker Rebate rewards completed fills, Liquidity Rewards pay makers daily for the quality of their resting orders, even when those orders don't fill. The program is designed to deepen books, tighten spreads, and bootstrap activity on selected events.

<div className="exchange-link-callout">
  View active reward pools on the [Liquidity Rewards page](https://exchange.gemini.com/predictions/liquidity-rewards).

  Or via API
  - [Get Config](/rest-api/prediction-markets/rewards/get-liquidity-rewards-config)
  - [List Events](/rest-api/prediction-markets/rewards/list-liquidity-rewards-events)
  - [Get Daily Summary](/rest-api/prediction-markets/rewards/get-liquidity-rewards-daily-summary)
  - [Get Lifetime Summary](/rest-api/prediction-markets/rewards/get-liquidity-rewards-lifetime-summary)
</div>

## How It Works

Each eligible event has a daily pool of USD. The pool is split among makers based on the quality of the resting orders they keep on the book throughout the day. Resting orders score whether or not they fill.

The score rewards quoting close to the midpoint, larger size (up to a cap), two-sided quoting, and continuous presence on the book. Quotes wider than the maximum spread, below the minimum size, or with insufficient uptime do not score.

## How Payouts Are Calculated

Each pool is split daily based on each maker's score. Scores are built up from per-minute snapshots of the orderbook throughout the day, and the accumulated daily score determines the share of the pool.

### Snapshot score

Computed every minute for each maker on each contract:

```
Snapshot score = Spread weight × Size × Two-sided multiplier
```

| Variable | Description |
|----------|-------------|
| Spread weight | Quadratic curve based on quote distance from the midpoint. Tighter quotes score disproportionately higher. |
| 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:

```
Daily payout = Pool × (Daily score / Total qualifying score)
```

| 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.