Indonesia Market Maker Program Terms & Conditions

PT Luno Indonesia Ltd (“Luno”), has agreed to offer a Market Maker Program for Luno Customers (“Program”). Without limiting the applicability of Luno’s Terms of Use, Privacy Policy, and the general Rewards and Promotions Rules, you agree to be bound by these terms and conditions when participating in the Market Maker Program (the “Rules”).

1. Market Maker Program details

Customers who meet the Eligibility Criteria outlined in section 4 below may receive cashback (“Rewards”), as Luno may determine at its sole discretion and in accordance with predetermined reward levels. Any reference to a “transaction” or “transactions” eligible for Rewards under this Program refers exclusively to trades that are successfully executed as “Maker” orders on the Luno Exchange (“Exchange”) feature. 

For the avoidance of doubt, transactions that take liquidity from the order book, specifically all “Taker” orders and any trades conducted via the “Instant Buy/Sell” feature, are expressly excluded from this Program and will not qualify for Rewards.

2. Program Period

The Market Maker Program will commence on 10 July 2025 and run until and including 31 December 2025.

3. Program Rewards

For comprehensive details regarding the Reward benefits afforded to participants of the Market Maker Program, please refer to the summary table presented below.

All customer levels, accumulated transaction volumes, and earned cashback are subject to a monthly reset at the beginning of each calendar month.

In the event that the maximum cashback amount (“Limit”) is reached at any point within a calendar month, no further cashback rewards shall accrue or be payable beyond such Limit for the remainder of that month.

4. Eligibility

Participation is limited to: 

4.1. Verified Luno customers who are situated in Indonesia and who are compliant with and meet the eligibility criteria set out in Luno’s Terms of Use (“Customer”).

4.2. Customers who transact in Luno Exchange and meet the minimum monthly maker volume requirements as may be specified and updated from time to time. The Monthly Maker Transaction Volume will be calculated from the first day until and including the last day of each calendar month. 

5. Program Mechanics: Maker vs. Taker Orders

This Program exclusively rewards trading activity classified as "Maker" transactions on the Luno exchange feature.

• Maker Orders: A maker order is a limit order that is placed on the order book and is not immediately matched with an existing order. 

• Taker Orders: A taker order is an order that is executed immediately against an existing order on the order book.

Only volume generated from Maker Orders will be considered for reward calculation under this Program.

6. Ineligible Transactions

The following transaction types are explicitly excluded from reward calculation under this Program:

• Taker Orders: Any transaction executed as a taker is ineligible for rewards.

  • Instant Buy/Sell: Transactions made through Luno's "Instant Buy/Sell" feature are considered taker orders and are therefore not eligible for rewards.

  • Send and Receive Crypto: Send and receive crypto will not be be eligible for rewards.

• Luno Large Cap Bundle: Transactions executed in the Luno Large Cap Bundle will not be eligible for rewards.

• Self-Trading: Any form of market manipulation, including but not limited to, self-trading (executing trades with oneself to create a false impression of market activity), is strictly prohibited and will result in immediate disqualification from the Program and potential account suspension.

7. Reward Calculation and Distribution

Reward Calculation Period: Rewards will be calculated on a monthly basis, commencing on the first calendar day of the month and concluding on the last calendar day of the month. For maker transactions in July, your Maker Transaction Volume and Reward will be calculated from 10 July 2025 until and including 31 July 2025.

Reward Metric: Rewards will be calculated based on the total eligible maker volume transacted by the customer within the Reward Calculation Period. The exact reward structure, including tiers and corresponding cashback percentages or Reward amounts, will be communicated separately to eligible Customers and may be updated at the discretion of Luno.

Reward Payout: Accrued rewards for a given month will be distributed within 15 business days following the end of the reward calculation period. The reward will be sent to the Customer’s registered email address with Luno in the form of a Bitcoin promo code. It is the Customer’s responsibility to ensure their registered email address on Luno is correct and to redeem the promo code.

8. Subject to change

Luno reserves the right to hold, void, cancel, suspend, adjust, or amend the Market Maker Program or its Rules at any time.

9. Governing Law

These Rules shall be governed by and interpreted in accordance with Indonesian law and any disputes arising from the Market Maker Program shall be subject to the exclusive jurisdiction of the courts of Indonesia.

10. OWN RISK

To the extent permitted by law, Luno does not accept any responsibility for any damage, loss, liabilities, injury, costs, expenses or claims (whether in contract, tort or otherwise) suffered by the participants of the Program or any third parties arising out of or in connection with participating in the Program or accepting the Program Rewards.