The maker and taker model is a way to differentiate fees between trade orders that provide liquidity ("maker orders") and take away liquidity ("taker orders"). As a result, maker and taker trade orders are charged different fees.
- Maker Orders; A trade order gets the maker fee if the trade order is not matched immediately against an order already on the order book, which adds liquidity.
- Taker Orders; A trade order gets the taker fee if the trade order is matched immediately against an order already on the order book, which removes liquidity.