A market maker is someone that places a buy or sell order that is not immediately matched with any other order on an exchange. They must wait for another market participant to match their buy or sell price. As a result, market makers increase liquidity on an exchange platform, giving options for market takers to execute a trade immediately and therefore create a thriving market place.
We depend on market makers to increase liquidity on our bitcoin-rand, ether-rand and xrp-rand order books, and we think it’s only fair that they get incentivized and rewarded for providing this service.
We're excited to be the first in South Africa, the continent, and most of the world to pay market makers a percentage of their trade value whenever their orders get matched. This is one of the ways VALR shares its value with its customers.