Market making where your funds never leave your account
You hold the keys. We can trade, but we can never withdraw. Watch every order live, and pay only when we hit the targets we agreed.
OVERVIEW
Our mission
DO YOU NEED A MARKET MAKER?
Six things to check in your own order book
A market maker keeps buy and sell orders on the book at all hours so holders can trade at a fair price. If two or more of these apply to your token, your holders are already paying for the gap.
Your spread is wider than your peers’
Open your pair on the exchange. If the gap between the best bid and ask is 1% or more while tokens of similar volume sit at 0.2–0.5%, every holder pays that gap twice: once to buy, once to sell.
The book goes one-sided
Look at the order book late at night in your main market’s time zone. If one side is empty for hours, a single market order can move the price by several percent, and exchanges notice.
The top of the book is thin
Add up the orders within a few ticks of the mid price. If a $500 trade would eat through them, traders and funds will not touch the pair.
Exchanges are asking questions
Liquidity warnings, “ST” tags or a delisting review are the exchange telling you the pair no longer meets its spread, depth or volume rules.
Small trades gap the price
If a few thousand dollars prints a 5% candle, the chart looks manipulated even when nobody is manipulating it, and that keeps new buyers away.
You lost your previous market maker
When a token-loan deal ends or a desk walks away, the quotes vanish overnight. The order book usually shows it before the team does.
Not sure how your pair compares? Tell us the token in the form below and we will reply with its spread, depth and uptime next to similar tokens on the same exchanges, from our own market data. No commitment.
YOU STAY IN CONTROL
You hold the keys
Larger mandates can choose a regulated custodian instead: the funds sit in a segregated account in your name, you keep full oversight and access, and we still only trade.
What our key can do
- Place and cancel orders on the pairs you choose
- Read your balances and order history, so we can report to you
What our key can never do
- Withdraw your funds, to any address
- Move funds to another account, including ours
- Use the key from anywhere except our own fixed servers
- Borrow, hold or lend your tokens
What you can do, any time
- Deposit or withdraw whenever you like
- Pause us, or delete our key in your exchange settings
- Check every trade in your own exchange account
HOW IT WORKS
Four steps, and your funds never move
- 01
You open the account
Create an exchange account or sub-account in your name and deposit the tokens and stablecoins you want us to work with. On OKX and Bybit this can be the exchange’s own managed sub-account, where the exchange itself stops the trading team from withdrawing.
- 02
You give us trade-only access
On exchanges with managed sub-accounts, you enter our ID and the exchange links us: we trade, and the exchange itself blocks us from withdrawing. Elsewhere you create an API key with trading and read access only, locked to our fixed servers, and we check its permissions before we place a single order.
- 03
We agree the targets
Together we set the goals for each pair: how much of the time we keep both buy and sell orders on the book, and how tight the spread should be. We also agree limits on how much inventory we can use.
- 04
We trade, you watch
Our systems quote both sides of your market around the clock. You see every order and fill as it happens, and you can pause us or delete the key at any time.
CEX OR DEX
Same promise, two setups
On an exchange, your account and our trade-only key. On chain, your wallet and our trade-only signer. In both cases we can trade and you can stop us in one step.
| Topic | Centralised exchange KuCoin, Gate, MEXC, Bybit, OKX and others | On-chain order book Hyperliquid today; other venues on request |
|---|---|---|
| Where your funds sit | Your own exchange account, or a managed sub-account under it | Your own wallet |
| What you give us | An API key with trading on, withdrawals off, locked to our servers | A trade-only signing key, such as a Hyperliquid agent wallet, that can place and cancel orders but cannot withdraw |
| How you cut us off | Delete the key or unbind the sub-account in your exchange settings | Revoke the agent from your wallet |
| What we do | Quote both sides of the order book around the clock | Quote both sides of the on-chain order book |
| What you can see | Our live read-only dashboard, plus the exchange’s own order history | Our live read-only dashboard, plus every transaction on the block explorer |
| Extra costs | Exchange trading fees | Trading fees, plus gas where the chain charges it |
We do not manage AMM pool liquidity or run vaults today; if your token only trades in a pool, ask and we will tell you plainly whether we can help.
FULL TRANSPARENCY
Nothing happens out of sight
A live dashboard of your market
Log in to see every order we place, every fill and the spread on your pairs, in real time. You only see your own pairs, and the dashboard is read-only.
Targets you can check yourself
Our targets are measured from public exchange order books, not from numbers we report. You can check them against the exchange, and against your own account, at any time.
On your phone (coming soon)
An iOS and Android app is in development, so you can follow your market and get alerts wherever you are. Until it launches, the dashboard works in your phone’s browser.
FAIR FEES
We get paid when your market gets better
Paid after the work, not before
Our monthly fee is invoiced at the end of the month, once you have seen the results.
Tied to targets you can check
The fee depends on how much of the time we quote both sides of your market and how tight the spread is. If we miss the targets we agreed, the fee goes down.
No fake volume, no token loans
We never set volume targets and never wash trade. We don’t ask you to lend us tokens or give us options on them. We quote real buy and sell orders, and that’s all.
QUESTIONS
Common questions
Do I have to send you my tokens?
No. Your tokens and stablecoins stay in an exchange account that you own. We connect to it with a key that can only trade.
What stops you from withdrawing my funds?
The exchange does. When you create our API key, you leave withdrawals and transfers switched off. The exchange then refuses any withdrawal or transfer made with that key, and the key only works from our fixed server addresses.
Can I take my funds out while you are trading?
Yes, at any time. Funds sitting in open orders are locked by the exchange until those orders are cancelled. Ask us and we cancel them first, or cancel them yourself on the exchange.
How do I stop working with you?
Delete our API key in your exchange settings. Our access ends immediately, and everything in the account stays yours.
Can a third party hold the funds instead?
Yes, for larger mandates. A regulated custodian can hold the funds in a segregated account in your name, and the exchange mirrors them as trading balance. You keep full oversight and access, and we still only trade.
Does this mean my funds carry no risk?
No. We can’t move your funds out, but market making means buying and selling, so the mix of tokens and stablecoins in your account changes and prices can move against it. We agree inventory limits with you before we start. Your funds also sit on an exchange, so the usual exchange risks still apply.
Which exchanges do you support?
We work on the major centralised exchanges. Tell us where your token trades and we will confirm which venues we can cover.
MANAGEMENT
Who we are
Joseph Haggenmiller
Founder and CEO
Joe has led teams at multiple trading firms which included quant researchers, developers, and traders; as well as maintained responsibility for developing/deploying strategies and trading. The algos and strategies employed state-of-the-art sophisticated quant finance methodologies.
Before XBTO Joe was Founder/CEO of a high/medium frequency, quantitative trading firm, Presagium BVI Ltd. He started his career in equity derivatives structuring and trading at Credit Suisse and UBS.
He has an MBA from Harvard University, BA from Macalester College, and was in the General Course Program at the London School of Economics Read more
Mervyn Zly
Engineering
Since his first Bitcoin trade in 2016, gearing him towards the dynamic world of cryptocurrencies, he has delved deep into crypto markets, NFTs, and blockchain technology, developing unique practical tools to his programming. As a trader in crypto derivatives, he brings a personal understanding of markets and risk management. His approach to data science and programming is not just theoretical but deeply rooted in practical, real-world application.
Mervyn has a Master of Data Science from Monash University, BBus in Banking & Finance from Victoria University. Read more
Adrian Baschuk
Partnership Advisor
Adrian is a Miami Beach native, graduate of Tufts University with a B.A. in International Relations and Communications/Media Studies. Read more