Token Listing Liquidity Requirements
Listings teams don't ask 'is there an MM?' — they ask 'who, on what model, with what KPI'. The answer determines whether the listing happens, when, and on what pair set.
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- Required evidence
- Signed MM, KPI matrix, inventory plan
- Tier-1 norm
- Two MMs across spot and perp
- Tier-2 norm
- One MM with credible KPI
- Common rejection
- Single MM, no public KPI
What 'liquidity ready' actually means
A signed MM mandate, a KPI matrix the venue can verify post-launch, and an inventory plan that matches the venue's listing model — loan, working capital, or hybrid.
Frequently asked
Will venues accept a planned MM rather than a signed one?
Tier-2 sometimes, tier-1 rarely. The signature is the credibility signal.
Talk to a partner
Live decision on the table?
Panel design, term-sheet review, KPI matrix, or a venue rebate negotiation — direct partner time, no pitch deck.