Market Making

Long.xyz

2026-10-02 08:50:03

Long.xyz rolls out community treasury LP upgrade for stock-token market making

Long.xyz, an RWA liquidity and token launch platform on Robinhood Chain, has introduced a community treasury LP upgrade that lets treasuries deploy stock-token liquidity directly into the USDG/STOCK pool. Fees generated from those LP positions will flow back to the treasury. The platform said the proceeds can be used to compound the same USDG/STOCK LP position and help fund modules that are still being prepared for launch. The feature will first be opened to treasuries tied to high-value OG trading pairs, with a broader rollout planned later for all LONG pairs. The update adds a new treasury management option inside the Long.xyz ecosystem and ties stock-token liquidity provision more closely to treasury operations on Robinhood Chain.

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South Korea

2026-09-28 22:16:05

South Korea Weighs Legalizing Crypto Market Making as FSC Eyes Stronger Oversight of Exchanges

South Korea’s Financial Services Commission is reviewing whether to permit crypto market making, while also considering a broader shift in how digital asset exchanges are supervised. Yoo Young-joon, director general for digital finance policy at the FSC, said the regulator will examine whether market making and similar mechanisms are needed to improve efficiency and stability in digital asset markets. Under the current Virtual Asset User Protection Act, there is no exemption for market making, meaning the practice can fall under the law’s ban on unfair trading, including price manipulation. Yoo also outlined items under review for the proposed Digital Asset Basic Act, which would form the second phase of South Korea’s crypto legislation. He said core exchange functions such as order matching, token listings, and surveillance for abnormal trades may need to move from self-regulation to public oversight. As an example, he pointed to criticism surrounding the recent listing of yen stablecoin JPYC on Upbit. The token briefly surged to 37.60 won after trading opened on Sept. 17, far above the roughly 8.85 won value of one Japanese yen at the time, before falling back after additional deposit routes were opened. Data released by lawmaker Park Min-gyu showed that 21,219 investors bought JPYC at prices at least 10% above the won-yen rate between Sept. 17 and Sept. 21, spending about 259.9 billion won.

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South Korea

2026-09-28 02:57:51

South Korea’s FSC studies market-making framework for digital assets

South Korea’s Financial Services Commission is studying whether to introduce a formal market-making regime for virtual assets, according to a report by Digital Asset cited by BlockBeats on Sept. 28. The discussion matters because the country’s current Virtual Asset User Protection Act does not provide an exception for market-making, leaving such activity at risk of being treated as unfair trading or even market manipulation under existing rules. Ryu Young-jun, a digital finance policy official at the FSC, said the regulator will examine systems including market making in an effort to improve the efficiency and stability of the digital asset market. His comments were interpreted as a sign that South Korea could consider allowing market making in the second phase of its digital asset legislation. Ryu also said a future Digital Asset Basic Act may tighten oversight of trading platforms, fair trading, corporate governance and conflicts of interest. The broader policy direction under review also covers expanding custody, trading, brokerage, asset management and investment advisory businesses, setting up issuance and disclosure rules for digital assets, advancing a won-denominated stablecoin, strengthening user protection, and potentially shifting key exchange functions such as trade matching, listing and abnormal transaction monitoring from self-regulation toward a public regulatory framework.

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Robinhood Cha

2026-09-21 13:01:04

On Robinhood Chain, tokenized stock LP profits depend heavily on pair selection and timing

Providing liquidity for tokenized stocks on Robinhood Chain is not a simple yield trade, according to on-chain analysis from Blockworks Research. The data shows that fee income varies sharply by pool type and by time of day. Stock-ETH and stock-stablecoin pools generally generate enough fees to cover losses to arbitrage, while stock-stock pools are roughly breakeven on average. Stock-Meme pools, by contrast, cover only a small fraction of those costs and appear, statistically, to function more like a channel for arbitrageurs than a durable source of LP income. The report centers on LVR, or loss-versus-rebalancing, which measures the adverse-selection cost LPs face when their quotes lag behind the market and are picked off by faster traders. It also challenges the idea that the main damage happens after U.S. equities close. During regular market hours, both fees and arbitrage costs rise by about 60%, leaving the ratio largely unchanged. The real stress point is the opening window: at 9:30 a.m. Eastern Time, arbitrage cost per pool jumps to $95.08 from a pre-open baseline of about $7, while fee coverage falls to 1.05x. For LPs allocating capital on Robinhood Chain, the report points to two practical questions: what the stock token is paired against, and whether liquidity is actively managed around the open.

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Kalshi

2026-09-21 03:41:28

Kalshi’s crypto volume faces wash trading questions as executive defends market structure

Kalshi’s crypto trading activity has come under scrutiny after Stealth Neolab co-founder Beni questioned the platform’s reported volume figures. He pointed to roughly $539 million in 24-hour trading volume for ETH-PERP against only about $3.1 million in open interest, and said the platform’s method of calculating and displaying volume deserved closer examination. Kalshi crypto lead IcoBeast pushed back, saying Beni was conflating crypto prediction markets with perpetual futures. According to IcoBeast, Kalshi does not offer rebates for its crypto prediction markets, while the market-making incentives used for its perpetual futures are similar to those seen on CME, Hyperliquid, and Binance. He also rejected the claim that Kalshi selects its self-clearing members. Beni later said he had obtained new non-public information and would share more after consulting legal counsel.

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Lido DAO

2026-09-19 22:46:12

Lido DAO reviews proposal to set aside 7.5 million LDO for emergency market making

Lido DAO is considering an emergency liquidity authorization that would reserve up to 7.5 million LDO, worth about $1.5 million, along with 480,000 USDC as recallable market-making inventory. The proposal says the reserve would be deployed only if liquidity on centralized exchanges deteriorates sharply, while the assets would remain in the DAO treasury until the Lido Growth Committee decides intervention is needed. The stated goal is to reduce the risk of delisting if LDO trading volume declines. The plan has not gone unquestioned inside the DAO. Some members have challenged the need to use treasury funds to pay market makers and argued that improving the token’s organic utility should come first. Techub carried the item and cited Bitcoinist as the source.

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Fables

2026-09-03 07:02:44

Fables nears end of points campaign as Robinhood Chain market-maker faces token and timing questions

Fables, a dynamic-fee market-making protocol built on Robinhood Chain with a Uniswap v4 Hook architecture, is approaching the end of its six-week points campaign. The program runs from Aug. 24 to Oct. 5, 2026, and the project previously said on X that Oct. 5 would bring the close of the points program alongside the Fables token generation event, gauge launch, voting and staking. Yet documentation on fables.fi labels that date as unconfirmed, leaving a visible discrepancy between two official channels. The protocol offers liquidity provision for tokenized U.S. equity markets quoted in USDG, including ETH, GLD, SPY, AAPL and NVDA pairs. Fables says fees are assigned through three proprietary models, with a limited offchain keeper able to make temporary adjustments within pre-set bounds. As of publication, the protocol had roughly $8.4 million in deposits and about $75.3 million in cumulative trading volume. The article also lays out the project’s team background, current security disclosures, the mechanics of the points campaign, and the proposed token structure for FABLES and PROLOGUE. It notes that no independent third-party audit report with named auditors, commit hashes, scope and findings has been published so far, and that key token details, redemption contracts and eligibility snapshots remain unsettled.

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Binance

2026-08-29 10:19:27

WuBlockchain repost says Binance may chase after-hours stock pricing power with Perps, while bStocks serve as inventory and correction rails

A reposted WuBlockchain article argues that Binance’s stock-product strategy is not about building a better Nasdaq. The thesis is narrower and more structural: if the exchange wants influence over post-close stock pricing, the front line is perpetual futures, not tokenized spot stocks. In this framework, Perps absorb directional views, leverage and rapid trading during market closures, while bStocks act as the inventory layer that can be held, transferred, converted, posted as collateral and used for hedging. The article compares weekend and reopening data for NVDA, TSLA, SNDK, SPCX and SKHY-related contracts, and repeatedly returns to one point: heavy trading alone does not prove price discovery. In a 25-sample set covering U.S. market close-to-reopen windows, Sunday direction matched the next cash open only 13 times, or 52%. SNDK and SPCX posted large weekend turnover and high fill rates, yet those figures, the author says, likely reflect market making, arbitrage and systematic flow as much as independent investor conviction. The piece also argues that bStocks should not be judged mainly by ticker count, AUM or headline volume. Their strategic role lies in inventory, borrowing, conversion and balance-sheet mobility. Perps can produce a candidate price, but bStocks are meant to turn that price into an asset that can be financed, transported, hedged and, if wrong, arbitraged back into line.

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