For every $1 reward, ~$4412 in trading volume was generated in Oct 2025 on @Polymarket. Some context: Polymarket rewards LP who place limit orders close to the market price with USDC. On average, the platform has distributed ~$449K per month to incentivize LPs to tighten spreads and support order matching on the platform. Interesting enough, the decline in monthly LP rewards does not result in a drop in volume. Instead, the ratio has steadily climbing since 2024 election cliff. This means that LPs are now less driven by incentives and more by organic adoption from recent growth (Like hype build up from ICE , Founderfund investment, airdrop speculation etc) Definitely a good sign for PM as the incentive-volume ratio become ~7x more efficient compares to 1 year ago. Credit to @Mikey0x_ , @datadashboards and @filippoarman for the data.