> ## Documentation Index
> Fetch the complete documentation index at: https://docs.novig.com/llms.txt
> Use this file to discover all available pages before exploring further.

# LP Onboarding

> How to get API access to Novig as a Liquidity Provider (LP)

## What is an LP?

**"Liquidity Provider" (LP) is what we call an account with API access. That's the whole distinction.** API access to Novig is available through the LP program, and we onboard both individuals and entities (LLCs, corporations, etc.).

As an LP, you'll receive a dedicated Novig account—separate from any existing account you may have—with direct API access.

<Note>
  **There are no obligations attached to LP status.** No uptime requirement, no SLA, no minimum quoting time, no two-sided quoting requirement, no minimum spread or size, no market-making agreement, and no volume commitment. You are not a designated market maker. Connect when you want, quote what you want, go dark whenever you like.
</Note>

## Everyone pays the same fees

**How you connect to Novig has no bearing on what you pay.** LPs trading over the API, retail users on the mobile app, and everyone in between trade against the same order book on the same published fee schedule:

* **Takers pay** `P × (1 − P) × 0.03 × Contracts`, on straight contracts matched while the event is live.
* **Makers pay nothing.**
* **Everyone is eligible for the [Live Trading Maker Credit rebate](/maker-credit-program)** — API and app alike, with no opt-in, no application, and no contract. If your make order is matched in-game, you earn back 50% of the taker fee collected on that trade, as cash, within seven calendar days.

<Warning>
  **If you were quoted a make/take fee schedule, it is out of date.** Earlier versions of this page described a market-making agreement with a fee on both makes (`0.0125`) and takes (`0.06`). That schedule no longer exists. There is **no maker fee** — one fee, on the taker side, at a `0.03` coefficient, charged only while the event is live. See [Trading Fees](/fees).
</Warning>

### Fee Structure

```
Taker Fee  =  P  ×  (1 − P)  ×  0.03  ×  Contracts
```

where `P` is the **execution price** of the fill (between \$0.00 and \$1.00) and `Contracts` counts \$1.00-payout contracts.

| Side      | Fee                                                                               |
| --------- | --------------------------------------------------------------------------------- |
| **Taker** | `P × (1 − P) × 0.03 × Contracts`, debited at match time                           |
| **Maker** | **No fee**, and earns a [Maker Credit](/maker-credit-program) on qualifying fills |

<Warning>
  **Watch the units.** The API's `qty` field is in minimal units: **100 `qty` = 1 contract**. Divide `qty` by 100 before putting it in the formula, or you will overstate the fee by 100×.
</Warning>

**Example.** A taker fill of 10 contracts (`qty` 1,000) at a price of 0.4, matched in-game:

```
0.4 × (1 − 0.4) × 0.03 × 10 contracts = 0.072 Novig Cash
```

The maker on the other side of that fill pays nothing and earns a Maker Credit of 50% of the fee actually collected — `0.4 × 0.6 × 0.015 × 10 = 0.036` — credited as cash within seven calendar days.

Fees are charged exactly, including sub-cent amounts — there is no rounding up to the cent and no minimum fee. The only quantization is the ledger's own precision, 5 decimal places (\$0.00001), applied with standard half-up rounding.

### What isn't charged

* **Fills matched outside live play.** Straight-contract fees apply only while the event's status is `OPEN_INGAME`, evaluated at match time. A resting order placed pre-game that fills in the second quarter is charged; a fill during a suspension is not. Non-live fills also generate no Maker Credit.
* **Orders that don't trade.** Placing, resting, amending, and cancelling are free.

### RFQ trades

[RFQ](/api-reference/rfq/overview) executions are combination contracts and price on their own schedule: taker coefficient **0.10**, assessed on execution regardless of liveness. The maker (the LP pricing the RFQ) pays no fee but earns **no Maker Credit** — combination contracts are excluded from the Program. Receiving RFQs is opt-in; registering a pricer is a separate step and is not required to trade the order book.

```
RFQ Taker Fee  =  0.10  ×  wager  ×  collateral  ÷  (wager + collateral)
```

<Note>
  The coefficients above are the current schedule, posted pursuant to Rule 3.6 of the Ludlow Rulebook. Read them from [Trading Fees](/fees) rather than hardcoding a rate you can't update.
</Note>

***

## Onboarding Process

<Steps>
  <Step title="Reach out to us">
    Email **[developers@novig.com](mailto:developers@novig.com)** and tell us whether you're onboarding as an individual or an entity. We'll reply with what we need to open the account — tax information (W-9), and for entities the legal name and EIN.
  </Step>

  <Step title="QA Environment Access">
    Once we have your details, we'll grant you access to our QA environment where you can begin testing against the API. Expect QA access within **2 business days**.
  </Step>

  <Step title="Initial Deposit">
    Before going live, we generally require a minimum deposit of **\$30,000** to your API account.
  </Step>

  <Step title="Production Access">
    You'll be fully onboarded with production API access, trading on the standard fee schedule above.
  </Step>
</Steps>

<Note>
  There is no application form, no market-making contract to negotiate, and no opt-in step for Maker Credits. Your account is governed by the Ludlow Member Agreement and the Rulebook, the same as any other Member.
</Note>

***

## Get Started

<Card title="Email developers@novig.com" icon="envelope" href="mailto:developers@novig.com">
  Tell us whether you're onboarding as an individual or an entity, and we'll send you what we need to open your API account.
</Card>

Questions on fees or the Maker Credit Program: [caleb.henry@novig.co](mailto:caleb.henry@novig.co).