Crypto market makers: public deal terms and records
Market-making contracts are almost never published. These are the ones that became public through DAO governance votes, project disclosures, court dockets and prosecutions: token loans, call options, retainers and what happened next. 19 firms, every term linked to its source.
| Firm | Public deals | Record |
|---|---|---|
| 3 | No legal action found | |
| 2 | No legal action found | |
| 1 | No legal action found | |
| 0 | No legal action found | |
| 0 | No legal action found | |
| 1 | Press reports, no finding | |
| 1 | Lawsuit dismissed, merits not decided | |
| 0 | No legal action found | |
| 0 | No legal action found | |
| 1 | Press reports, no finding | |
| 1 | No legal action found | |
| 1 | No legal action found | |
| 1 | No legal action found | |
| 1 | No legal action found | |
| 1 | Convicted | |
| 1 | Convicted | |
| 0 | Convicted | |
| 1 | Charged by the SEC | |
| 1 | No legal action found |
How market-maker deals usually look
The industry default is a token loan plus a call option. Across about 40 public DAO deals, loans ran at 1% to 5% of circulating supply for 12 to 24 months, with the strike set 25% to 100% above the TGE price, median 50% (WuBlockchain and the Wallfacer deal tracker, grade 4). A second source puts loans at 0.5% to 2% of supply; we show both, because the market has no agreed norm.
Want to see what an option is worth to the desk? Try the option calculator, or read our sample term sheet review. How rarely launches disclose these deals at all: 4 of 57.
We review your market-maker term sheet against these deals, in writing within 48 hours. No calls, no names needed.
We take no money from market makers, exchanges or agents. Convictions and charges come from US Department of Justice and SEC releases; lawsuits are reported as allegations with their outcome.