REPYL LIQUIDITY PRACTICE

TWO-SIDED MARKETS.
WRITTEN MANDATES.

Repyl is a Hong Kong liquidity firm. We make markets as principal or under mandate — perpetual futures, prediction markets, and issuer books — and we advise token projects on listings they can actually quote.

REQUEST ACCESS READ THE ENGAGEMENT

MARKET MAKING
PREDICTION MARKETS
ISSUER ADVISORY
KPI-BOUND

WHAT WE DO

Repyl Liquidity is the public surface for Repyl’s market-making and advisory work. The client sees spreads, depth, uptime, and a written mandate — not the model.

PILLAR A MARKET MAKING

Repyl quotes two-sided markets as a principal or under a client mandate. Inventory policy is written into the engagement. The client sees spreads, depth, and uptime — not the model.

A1 PRINCIPAL

Repyl trades from its own book. Capital, inventory, and P&L sit with Repyl. Use when the venue or the firm wants a dealer in the market, not a hired wallet.

The quote is a house quote. Risk stays inside Repyl.

A2 AGENCY / MANDATE

Repyl runs a two-sided book to a written KPI sheet for a venue, protocol, or issuer. Inventory rules, max position, banned flow, and kill conditions are contractual.

Reporting is compliance states (uptime, spread band, depth, absence) — never Repyl’s proprietary P&L. The mandate defines whose inventory is used.

A3 ISSUER LIQUIDITY

Professional market making for token projects around listing and secondary books: spot and perp pairs the project actually lists, CEX and on-chain, hours and inventory caps agreed in advance.

Public deliverables only: two-sided quotes, KPI sheet, coverage windows, inventory caps, kill-switch. We do not promise price, volume, or listing.

BOOKS WE QUOTE · perpetual futures · spot pairs where listed · other order-book markets the mandate names (including collectible or specialty books only when a mandate names that book).

PILLAR B PREDICTION MARKETS

Event contracts need the same thing as perps: a two-sided book that survives news, thin hours, and resolution.

Continuous bid/offer on listed outcome markets
Inventory and exposure caps per event and per cluster
Coverage through the life of the market, including the approach to resolution
Mandate KPIs where a venue or protocol wants a named liquidity partner

We quote outcomes. We do not sell forecasts.

PILLAR C ISSUER ADVISORY

Projects hire Repyl to design a market that can actually be quoted — then to keep the reporting honest after listing. This is consulting adjacent to the MM book, not a second secret strategy.

Listing readiness: tick, lot, impact notionals, hours, what “good depth” means on day one
Mandate design: KPI sheet, inventory policy, principal vs mandate, what the public will see
Venue coverage: which books are quotable, which are not
Reporting hygiene: what a project should publish vs what stays in the portal

We do not sell listings, audiences, or TVL.

WHY TWO-SIDED BOOKS

A thin book taxes every participant: wider spreads, failed hedges, toxic flow, listing risk. Perpetual futures remain a core book. Prediction markets and issuer pairs need the same presence. Repyl’s job is to make the named book boring in the right way — present, two-sided, measurable.

01 Presence Quotes when organic flow is asleep
02 Tightness Spreads that invite real size
03 Continuity The same quality across sessions and listings
04 Accountability Numbers the client can audit against the contract

ENGAGEMENT

01 Scope Instruments, venues, hours, banned flow, inventory caps
02 Mandate KPI sheet: spread, depth, uptime, max absence
03 Deploy Production keys, staging book, go-live window
04 Report Recurring pack + exception alerts

START A MANDATE

OPERATING STANDARD

Systems built for order-book microstructure — named as market structure, not as a model
Coverage across centralized books and on-chain books the mandate names
Transparent reporting, not narrative
Dedicated venue and client owners
Follow-the-sun coverage
Separation of client reporting from proprietary trading

Occasional public notes on market structure. No live book.

CLIENT PORTAL PREVIEW

Dark HUD mock only. Not wired to the operator desk. Illustrative compliance states — not live trading data.

CLIENT SURFACE

FAQ

What does a perp market maker do?

A market maker posts continuous two-sided quotes — a bid and an offer — so a perpetual contract remains tradable. The work is presence, spread, depth, and risk control. The venue and the issuer measure the book against a contract, not against a story.

How is this different from providing liquidity on a spot AMM?

An AMM is a pool. A perp book is an order book with marks, funding, and liquidations. Repyl quotes that book two-sided. Whose inventory is used is written into the mandate.

Principal vs mandate — whose capital is in the book?

Principal: Repyl’s capital, inventory, and P&L. The quote is a house quote. Mandate (agency-style engagement): quoting to a contract the client can audit — inventory rules, max position, banned flow, and kill conditions. The mandate defines whose inventory is used. Reporting on a mandate is compliance states, not Repyl’s proprietary P&L.

Do you market-make for token projects?

Yes, as issuer liquidity: we quote listed pairs to a KPI sheet — two-sided quotes, coverage windows, inventory caps, kill-switch. We do not promise price, volume, or listing.

What is prediction-market making?

Quoting listed outcome markets two-sided, with inventory and exposure caps, through the life of the market. We quote events; we do not sell forecasts. Resolution, oracle, and dispute rules sit with the venue.

Do you run collectible or specialty books?

Only if a mandate names that book. It is not a standalone product on this page.

What gets written into the KPI sheet?

Spread, depth at agreed ticks, uptime, maximum absence, coverage hours, and inventory caps. Those numbers are contractual. Reporting is against the sheet.

Do you take directional views on the client’s token or index?

The mandate is to quote two-sided. Proprietary books are segregated from client reporting.

Will Repyl publish our volumes or inventory?

No. Client reports stay inside the portal. This site publishes no inventory.

Is this a brokerage or an exchange?

No. Repyl is a quantitative trading firm operating a liquidity practice. This site is not an order-entry venue. Operators use a separate private desk.

Where do I log in to trade?

You don’t, from here. Counterparties receive a portal later. Internal desk: trade.repyl.com.

REQUEST ACCESS

Hong Kong desk. Institutional counterparties only. A named owner answers.