Cryptsy has changed the way Cryptsy Points are awarded. Previously, points were awarded in proportion to the amounts of fees paid by a user.
The problem was, under the new maker-taker model fee model, Market Makers don't pay any fees and are effectively getting punished for their market making activities.
Cryptsy now awards points based on trading volume, as follows: For every BTC traded, you get 0.1 points. Like Bitcoin , points are divisible down to 8 decimal places. Points can also be earned off the trading volume generated by referred users.
Cryptsy Points can be used for a weekly draw for prizes. They can also be traded under the Points/BTC pair.
Cryptsy also awards fee rebates to users just for holding USD, BTC or LTC balances (the base trading currencies). 2% of the total fees collected are distributed to users at the end of each day. A user receives a portion of this amount equal in proportion to his/her holdings out of total Cryptsy user holdings. If Cryptsy collected 10 BTC in fees on a given day, and a user owns 100 BTC with total Cryptsy accounts equaling 10,000 BTC, he would receive: 10 BTC x 2% x (100/10,000) = 0.002 BTC each day.
Even holdings subject to open orders are eligible.
