How it works

Where the maker plugs in

Maker	Biconomy
Signs a price ladder and streams it over one WebSocket	Writes it onchain, refreshes it before it expires, pays every transaction
Holds inventory in a contract it owns	Settles fills from it at the signed prices
Switches on the protections it wants, from the same stream	Enforces them in the contract
	Runs the venue aggregators quote and swap against

The maker’s pricing has no gas line and no infrastructure cost. The maker models spread and inventory.

A ladder is up to 20 steps of size and price for one direction of one pair. Aggregators read it from the chain with no adapter.

Both use the same ladder and the same connection. They differ in what the maker resends when the price moves.

Both modes moved every price. Rewrite also put the 5 WETH already sold back on the market. The mode is set per pair.

Four dials, off by default, enforced by the contract.

Dial	Effect
Block cap	Maximum the maker’s book fills in one block.
Age fade	Price widens with the square root of the quote’s age.
Move premium	Extra margin for the first blocks after a price change.
Auto-dark	Each message has an expiry. After it, the book stops quoting.

Settings are on Risk and inventory.


Quote vs fill	The venue quotes from the stored ladder that fills the trade. A swap that delivers less than the taker’s `minAmountOut` reverts.
Listing fee	None
Routing fee for makers	None. An aggregator’s fee comes out of the taker’s output.
Maker receives	The signed price