**Short Description: **This submission proposes to appoint Enflux as Market Makers for iBTC & PHA on Polkadex Orderbook. The requested treasury funds will be used to cover the monthly market making fee for these pairs.

**Duration: **The requested funds will cover 3 months of market making services.

**Program details and logistics: **
Polkadex on-chain treasury agrees to enter into a 3 months engagement with Enflux for market making services on Polkadex orderbook, for the following pairs: iBTC/USDT and PHA/USDT

Enflux will further develop a cross exchange market making strategy to provide a tight spread and deep orderbook while trading delta neutral and therefore reduce the price volatility risk of market making for the pairs listed above. 

Enflux will provide dashboards to the Polkadex community. The dashboards will at least show: 
- spread %
- 2% orderbook depth
- 5% orderbook depth
- 10% orderbook depth
- balance information

in an easy to understand interface, which allows the Polkadex community to verify the performance of Enflux's market making operation at any time over any period.

Total requested amount of PDEX is the equivalent of $1500 in PDEX per pair per month. For two pair, for 3 months, this would be a total of $9000 worth of PDEX.

**Problem Statement:**
- The problem is the lack of liquidity and price volatility risk in the iBTC/USDT and PHA/USDT pairs on Polkadex Orderbook.

**Significance:**
- By appointing Enflux as Market Makers, the liquidity and price volatility risk of the iBTC/USDT and PHA/USDT pairs will be improved.

**Proposed Solution:**
- Enflux will provide market making services for the iBTC/USDT and PHA/USDT pairs on Polkadex Orderbook, using a cross exchange market making strategy to reduce price volatility risk.

**Expected Outcomes:**
- The expected outcome is improved liquidity and reduced price volatility risk for the iBTC/USDT and PHA/USDT pairs on Polkadex Orderbook.

#2381 Appoint Enflux as Market Makers for iBTC & PHA on Polkadex Orderbook for a duration of 3 months for each pair

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