Score your shortlist
Rename the three firms, set a score for each criterion, and change any weight. Scores update as you type.
Score each firm from 0 (not met) to 5 (met in writing, with evidence)
| Criterion | Weight | A | B | C |
|---|---|---|---|---|
| Per-venue commitments | ||||
| Cost in dollars | ||||
| Account and key control | ||||
| Conduct and contract | ||||
| Verifiable reporting | ||||
| Venue coverage | ||||
| CEX and DEX on one book | ||||
| Behaviour in stress | ||||
| Track record | ||||
| Fit for your size | ||||
| Lifecycle services | ||||
| Legal and jurisdiction |
What does each score mean?
Use the same scale for every firm. Score what is in writing, not what was said on a call.
| Score | Meaning | Example for per-venue commitments |
|---|---|---|
| 0 | Not offered or refused | Will not commit to any number |
| 1 | Verbal assurance only | Says spreads will be tight |
| 2 | Written, but vague | Best efforts wording in the proposal |
| 3 | Written and specific for some venues | Spread and uptime on the main exchange only |
| 4 | Written and specific for all venues | Spread, depth and uptime for every exchange |
| 5 | In the contract, with evidence and remedies | Per-venue numbers, verification rights and remedies for misses |
What are the 12 criteria and their default weights?
| Criterion | Default weight | What to look for |
|---|---|---|
| Per-venue commitments | 15 | Maximum spread, minimum depth at 0.5%, 1% and 2%, and uptime for each venue |
| Cost in dollars | 12 | Fee stated and options valued at a realistic volatility |
| Account and key control | 10 | Project-owned sub-accounts, trade-only keys, no withdrawal rights |
| Conduct and contract | 10 | No profit share, no price or volume promises, disclosable to exchanges |
| Verifiable reporting | 10 | Checkable against public data or a third-party tracker |
| Venue coverage | 8 | Live on your exchanges and DEXs today |
| CEX and DEX on one book | 8 | One reference price and one inventory |
| Behaviour in stress | 7 | Written limits and re-quote times |
| Track record | 6 | Years live, current mandates, references |
| Fit for your size | 6 | Takes tokens of your market cap and volume |
| Lifecycle services | 4 | Listing support, unlock planning, treasury and exit |
| Legal and jurisdiction | 4 | A named entity that can serve you |
How should the weights change by project?
Pre-launch token
Raise lifecycle services and fit for your size. Listing preparation and launch-day quoting matter most.
Token on CEX and DEX
Raise CEX and DEX on one book. Two prices for one token cost money every day.
Token with large unlocks ahead
Raise behaviour in stress and verifiable reporting.
Foundation with exchange scrutiny
Raise conduct and contract, and legal and jurisdiction.
How do you use the scorecard?
- 1
Send the same brief
Give each firm identical venues, volume tier and release schedule.
- 2
Collect written answers
Ask for each of the 12 criteria in writing.
- 3
Score 0 to 5
Use the scale above for every firm.
- 4
Adjust weights
Reflect what your project needs most.
- 5
Check the leader
Call references and read the contract before deciding.
Frequently asked questions
How do I compare crypto market makers?
Give each firm the same brief, collect written answers on the same criteria, score each answer on one scale and weight the criteria by importance. TDMM's scorecard does this for up to three firms on 12 criteria.
What criteria matter most when choosing a market maker?
Per-venue commitments on spread, depth and uptime carry the most weight, followed by cost in dollars, account and key control, conduct and verifiable reporting. Those five make up 57 of the 100 default points.
Is the market maker scorecard free?
Yes. It is free, needs no sign-up and runs entirely in your browser. Nothing you enter is sent to TDMM or anyone else.
What is a good score for a market maker?
A firm that has every criterion in writing for all venues scores about 80. Scores above 90 need contract terms with evidence and remedies. A lead of under 5 points between two firms is too small to decide on.
Can I change the weights?
Yes. Each weight is editable and the tool rescales to 100. A pre-launch token might raise lifecycle services, and a token on both CEX and DEX might raise the single-book criterion.
Related TDMM offerings and guides
Offerings
TDMM publishes this tool and is itself a market maker. The criteria and default weights are TDMM's own and can be changed. Scores are a decision aid based on what you enter, not a recommendation. This is not investment, legal or tax advice.