Nyxbid

Trade · maker

Quote sealed flow.

You’re a maker if you hold inventory and want to quote private RFQs on demand. Every RFQ is one taker, one window, and one winner — first reveal in-band wins.

Before you start#

  • A wallet with inventory in the assets you intend to quote.
  • A small SOL balance for fees and a maker bond — typically a few cents per intent you commit to.
  • A way to receive open intents in real time. The dashboard works for manual quoting; bots should connect over WebSocket.

1. Watch open RFQs#

Open the maker inbox or stream ws://<host>/ws. You’ll see every open intent: side, pair, size, deadline. The taker’s limit price is hidden, so quote conservatively.

What you see

Side, pair, size, deadline, and the running list of committed maker counts. Nothing else leaks until reveal.

2. Commit a sealed quote#

Pick a price you’d be happy to fill at and a random nonce. Hash it locally:

commitment = SHA-256( price ‖ size ‖ nonce )

Sign one transaction posting { intent_id, commitment, bond }to the program. Your commitment is now locked. You can’t change the price; you can only choose to reveal it or to forfeit the bond.

3. Reveal during the window#

Once the reveal window opens, post the original (price, size, nonce) on-chain. The program verifies the SHA-256 matches your commitment and ranks all revealed quotes.

  • Best valid price wins.Best meaning best-for-the-taker — lowest ask if they’re buying, highest bid if they’re selling.
  • Ties break on commitment timestamp. Earlier commitments rank ahead.
  • Stale or out-of-band quotesare dropped and don’t cost you the bond — you only forfeit if you fail to reveal.

4. Fund & settle#

If you win, the program emits an award event and waits for you to fund the maker leg. One last signed transaction moves your inventory into escrow; both legs swap atomically; the receipt drops on-chain.

Don't ghost a win

Winning and not funding the leg before the settle deadline is the worst thing a maker can do — the bond goes to the taker, the slot is replaced by the next-best valid quote, and your reputation score on the venue takes a hit.

Economics#

  • Fees. Currently zero protocol fee on devnet. Mainnet launch fee is a flat 0.05% on the maker leg, paid in the quote asset.
  • Bonds. A small SOL bond is locked when you commit and refunded on either reveal or expiry. Forfeits go to the counter-party that took the drop-off, not the protocol.
  • Inventory. The protocol never custodies your inventory between trades. You hold what you hold, and you fund the leg only if your quote wins.