Earndrop : an Early Dive Into the Numbers
48 hours into the first Earndrop we reviewed the numbers, and what we discovered strongly supports our belief that our tools can effectively crowdsource liquidity.
We consider the first Earndrop round a beta and kept the marketing pretty organic. The main goal was to gather information and feedback, to create a powerful and efficient system for our future widely promoted campaigns.
What came out so far
Participants: So far, we've had over 350 registrations, which are growing steady as we speak. From that, 80+ traders are actively market making. And that's where the magic happens.
Volume: Those traders have collectively launched over 800 NIOX Maker sessions. They have generated 193.715 orders around the spread, and a total of 25.929 trades. With an average of 18k USD volume per user, our Earndrop traders generated over 1.5 Million USD in volume on Binance, Kucoin and Nominex.
Liquidity Mining with the right tools
The results from this campaign reflect how easy-to-use market making tools along with the right incentives can significantly boost liquidity. This most importantly is further validating our ideas about the effectiveness of a marketplace based approach for liquidity buying/selling through our upcoming Liquidity Mining Platform - NIOX Swarm.