Public numbers are scarce. One market maker, EchoTrade, publishes retainers of USD 2,500 to 10,000 a month; TreasureDAO’s public proposals show Flowdesk at USD 3,500 a month, raised to USD 12,500 for unlimited venues plus treasury services (2022); and token-loan deals usually charge no cash fee but grant the market maker call options on 0.25% to 2.5% of supply (Forgd Academy’s range), with public examples such as 500,000 CTX at a USD 9.75 strike. The real cost depends on venues, depth targets, who funds inventory, and the option value if your token rises.
Public price points
| Source | Structure | Price |
|---|---|---|
| EchoTrade (own published pricing) | Retainer | USD 2,500–10,000 / month |
| TreasureDAO TIP-17 / TIP-21 (Flowdesk, 2022) | Retainer | USD 3,500 / month, then USD 12,500 / month |
| Blockstack SEC filing (GSR, 2019) | Setup fee + 6-month retainer + USD 1M BTC/ETH loan | Fee amounts not disclosed |
| Cryptex CIP-5 (Wintermute, 2021) | Token loan + call option | 500,000 CTX, 12 months, USD 9.75 strike |
| TrueFi TFIP-25 (2025) | Token loan + call options | 9,000,000 TRU, 24 months, strikes +5% and +15% |
| Forgd Academy | Token loans to all market makers | 0.25%–2.5% of total supply |
How to compare quotes
Put every offer on the same scope (venues, pairs, depth at ±2%, uptime, term) and estimate total cost over the term under falling, flat and rising prices. A “free” token loan can be the most expensive option if the token rallies past the strikes. Use the market making cost calculator.
Deeper guides: market making cost, cost for small tokens, 13 public deals.
Sources
- EchoTrade: How much does a crypto market maker cost? (firm's own pricing)
- Treasure forum: TIP-21 Expanding market making partnership with Flowdesk (2022)
- Blockstack PBC, SEC Form 1-K (2020): Binance Services Agreement and GSR agreement
- Cryptex forum: CIP-5 Market Making Proposal (2021)
- TrueFi forum: TFIP-25, Bastion Trading as additional MM for TRU (2025)
- Forgd Academy: How are loan plus call option engagements typically structured?
Last reviewed 12 November 2026. Exchange and platform policies change; always confirm on the official page before acting.
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