A retainer is a market-making contract where the project pays a fixed monthly fee and the market maker quotes the project’s markets to agreed KPIs, usually using inventory (tokens and stablecoins) the project supplies, with the project keeping the trading P&L. Public examples: TreasureDAO paid Flowdesk USD 3,500 a month in 2022, raised to USD 12,500 when scope grew to unlimited venues plus treasury services; EchoTrade publishes retainers of USD 2,500 to 10,000 a month.
How a retainer works
- The project deposits tokens and stablecoins in exchange sub-accounts it controls or can see.
- The firm runs quoting algorithms to the KPIs.
- The project pays a monthly fee; P&L on its inventory is usually the project’s.
- Either side can exit after the notice period; inventory comes back.
Pros and cons
| Pros | Cons |
|---|---|
| Predictable cost, no options granted | Cash fee every month |
| Project keeps upside | Project funds inventory and bears its risk |
| Clean exit | Firm’s effort depends on KPI enforcement |
More: market making retainer, retainer vs loan, Flowdesk profile.
Sources
- Treasure forum: TIP-21 Expanding market making partnership with Flowdesk (2022)
- EchoTrade: How much does a crypto market maker cost? (firm's own pricing)
Last reviewed 12 November 2026. Exchange and platform policies change; always confirm on the official page before acting.
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