DeFi Token Liquidity & On-Chain Market Making
A DeFi token without CEX presence is a community asset; a DeFi token with no on-chain depth is a price quote. Serious issuers run both books — and pay MMs to make them talk to each other.
- Venues
- Uniswap v3/v4, Curve, CEX panel
- Strategy
- Concentrated CL + CEX inventory
- KPI
- On-chain depth at ±2% + CEX spread
- Inventory split
- Typically 30/70 on-chain / CEX
Concentrated liquidity, professionally managed
Uniswap v3/v4 lets a desk place capital tightly around the mid, but only a small fraction of issuers do this with discipline. The right MM rebalances ranges as the price moves and treats the on-chain book like a venue, not a parking lot.
Bridging the two books
The CEX panel arbs the on-chain price and vice versa. We help structure the inventory split and the rebate stack so neither leg subsidises the other indefinitely.
Can a DeFi project run without a CEX MM?
For a small community asset, yes. For anything aiming at institutional or treasury allocation, no — CEX depth is the price discovery venue most desks reference.
Live decision on the table?
Panel design, term-sheet review, KPI matrix, or a venue rebate negotiation — direct partner time, no pitch deck.