@useMonarch

ZAMA/USDC $2500 USDC REWARDS EPOCH 5 NOW LIVE! https://t.co/5D1fJdvZzs

Epoch 1 rewards for @tradeparagon are now claimable: https://t.co/9a6IiZosLQ 66 maker wallets earned a total of $15K USDC rewards Marina MMs filled: - $BTC.D: 28.5% of all maker volume - $OTHERS: 47.8% of all maker volume - $TOTAL2: 24.5% of all maker volume Top community MM per market this epoch: - $BTC.D: $1,319 earned, 21 bps avg spread, $36K maker fills - $OTHERS: $763 earned, 8 bps avg spread, $124K maker fills - $TOTAL2: $570 earned, 10 bps avg spread, $216K maker fills Follow @useMonarch and turn on notifs for the next epoch Want to earn USDC quoting HIP-3 markets? @useMonarch

Epoch 1 of Marina on @tradeparagon HIP-3 markets just wrapped via @HyperliquidX $BTC.D - Avg spread -63% to 2.4 bps - 1% Depth +20% to $1.09M - Worst-hour depth: 7x to $258K $OTHERS - Avg spread -89% to 3.5 bps - 1% Depth +19% to $491K - Worst-hour depth: 8x to $82K $TOTAL2 - Avg spread held at ~3 bps - 1% Depth +8% to $551K - Active makers +28% to 114 Reliability across all 3 markets: - 0 Hours with spread < 50 bps This is what HIP-3 markets look like with Marina rewarding community MMs

Epoch 4 of our Marina Liquidity Module rewards wrapped on $ZAMA/USDC Claims are now live: https://t.co/9a6IiZosLQ Top community market maker earned $1.5K! $2,500 USDC reward pool, distributed by uptime & spread quality, fully on-chain. Want to earn USDC rewards? @useMonarch

Campaign Rewards are disbursed at the end of every epoch on https://t.co/9a6IiZosLQ Rewards are calculated based on: - 50% Maker Fill Volume - 50% Depth Quality Score Depth Quality Score = Avg Depth × Spread Multiplier Spread Multiplier = ((100 − Avg Spread) / 40)² 10bps : 5x 20bps : 4x 30bps : 3x 40bps : 2.2x 50bps : 1.5x