(How Much Volume Each $ Incentive Buys)

🎯 Goal

Optimize:

Incentives Paid → Sustainable Volume Generated

Not:

Incentives → Temporary Wash Volume

Efficiency Bands

Incentive Efficiency Meaning
$1 → $50 Volume Weak
$1 → $100 Volume Normal
$1 → $200 Volume Strong
$1 → $300+ Volume Elite MM Engagement

Jenex Target MM Efficiency

Phase Target
Early $1 → $120 volume
Growth $1 → $180 volume
Dominance $1 → $250+ volume

Incentive Curve Visualization

Volume Generated

300 |                     █ Elite Zone
250 |                 █
200 |             █
150 |         █  ← Target Growth Zone
100 |     █
 50 |  █
    +-------------------------
      Incentive Spend →

Why Efficiency Improves Over Time

Because once liquidity depth + organic flow exists:

MMs arbitrage real flow

→ need less subsidy

→ produce higher net volume

🧬 Combined System View (All Together)

Flywheel Stack