Market making for NAV-priced tokens

Tight books around your NAV. On every exchange.

Tightbook quotes two-sided order books anchored to your token's net asset value, keeps each exchange's liquidity obligations met, and tells you the moment one slips. No wash trading. Your keys never leave your servers.

ORDER BOOK · ILLUSTRATIVE quoting around NAV
88.4240.37
88.3630.53
88.3010.43
88.2400.46
88.1780.50
88.1170.40
88.0560.56
87.9940.35
87.9330.60
NAV87.670spread 0.60%
87.4070.60
87.3460.35
87.2840.56
87.2230.40
87.1620.50
87.1000.46
87.0390.43
86.9770.53
86.9160.37
Levels / side
9
Exchange rules
all met
Self-trades
0
The problem

Listing is the easy part. Keeping the book alive is not.

Every exchange listing comes with liquidity obligations: minimum depth, maximum spread, a book on both sides around the clock. Miss them and the pair is hidden or delisted.

Opaque market makers

Third-party firms quote what they like, report what they like, and too often fill the gaps with volume that isn't real.

Books that drift from value

Without an anchor, a thin book trades away from NAV and invites arbitrage against your own primary market.

You find out last

Compliance warnings arrive by email days after the book went thin. By then the pair is already in a hidden zone.

How it works

One node per exchange. One console for all of them.

01
Anchor to NAV

Every few seconds the node reads your token's net asset value from your own price feed. Quotes are built around NAV, not around whatever the last trade printed — so the exchange price tracks the asset, not the noise.

02
Quote to each exchange's rules

One ladder per venue, shaped to that listing agreement: number of price levels, maximum spread, depth inside ±2% of mid. Quotes always sit inside your own primary-market spread, so nobody can arbitrage you against your own issuance.

03
Watch, alert, act

The console scores every book against the exchange's obligations in real time and pages you before the exchange's compliance team does. Halt, resume or retune any market from the browser — the node applies it within seconds.

Features

Built for the people who answer to the exchange.

Exchange obligations, monitored

Levels per side, spread, depth in band, two-sided presence — written down per venue and checked continuously. A breach that lasts two minutes becomes an alert.

Alerts that escalate

Critical alerts go to Telegram and email and repeat every 10 minutes until someone acknowledges them. Warnings arrive once, and again when they resolve.

Active / standby failover

Two nodes share one exchange account through a leader lease. Only one ever quotes; if it stops renewing, it fences itself and the standby takes over cleanly.

Live parameters, with a preview

Change spread, levels, size per level, inventory skew, weekend behaviour or risk limits. See the resulting ladder and every rule it would break before you send it.

Versioned and auditable

Every change carries an author, a note and a version. Roll back from history in one click. Every halt, resume and acknowledgement is logged.

Inventory-aware quoting

As inventory tilts to one side the ladder skews to rebalance, the heavy side shrinks, and you're told when to top up or withdraw.

Weekend and market-closed modes

When the underlying market is closed and NAV is frozen, quotes widen and shrink automatically, by the multipliers you set — and the preview shows whether the weekend book still meets each exchange's rules.

Observe third-party makers

Already have a market maker somewhere? Point Tightbook at that book and measure the depth and spread you're actually getting, minute by minute.

Roles and two-factor sign-in

Viewer, operator and admin roles. Invite links instead of shared passwords; every account uses an authenticator app.

Principles

What Tightbook will never do.

No wash trading

Our bids are always below our asks. There is no self-trade mode, no volume target, no K-line shaping.

No custody

Funds stay in your exchange accounts. Nodes use trade-only keys with withdrawals disabled, on servers you control.

No arbitrage against you

Exchange quotes always sit inside your own buy/sell spread, so nobody can buy from you on one side and sell to you on the other.

Architecture

Your servers quote. The console watches.

Your servers

Two quoting nodes, active and standby. Trade-only exchange keys live here and nowhere else.

Tightbook console

Receives each node's state every few seconds; scores books against exchange rules; sends halt, resume and parameter changes.

You and your team

Browser console with two-factor sign-in and roles. Alerts on Telegram and email.

Exchanges

Venues

Pionex
integrated
Hotcoin
integrated
LBANK
observe mode
Your venue
on request
FAQ

Questions

Who is Tightbook for?+

Issuers of tokens that have a reference price — tokenized commodities, funds, baskets and other NAV-priced assets — who list on centralized exchanges and need dependable two-sided books without hiring a market-making firm.

Do you hold our funds or exchange keys?+

No. The quoting node runs on your servers with trade-only API keys (withdrawals off). The console never receives exchange keys; it only sees the state the node reports and sends it halt, resume and parameter commands.

Do you generate trading volume?+

No. Tightbook never trades with itself: our bids always sit below our asks, and there is no self-trading or wash-trading mode. If an exchange asks for artificial volume, that's a conversation to have before you list there.

Which exchanges are supported?+

Pionex and Hotcoin are integrated today, with LBANK available in observe mode. Adding a venue means writing one adapter against its REST API; tell us which ones you need.

What does it cost?+

We're onboarding a small number of issuers during early access. Request a slot and we'll come back with terms that fit the number of venues you run.

Early access

Run your books with Tightbook.

We're onboarding a small number of token issuers. Tell us about your token and the exchanges you're on.

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