A lavender capsule cut through by a slot, with a pink sphere resting hard against the far right end: the position is at the edge of its band.

The 24/7 market maker for tokenized stocks.

A ±5 % Uniswap v4 band per ticker, recentred the second it breaks.

See the markets How it works

The problem

  1. 01

    Markets close.

    The bell rings. The band stays where it was posed.

  2. 02

    The price does not.

    The XYZ mark quotes all night, all weekend.

  3. 03

    Liquidity sits in the wrong place.

    Price at the edge, position unmoved. You get run over.

How it works

Three states, on a loop, with nobody watching.

One full cycle: drift, break, repose.
  1. 01

    Pose the band

    Concentrated v4 liquidity, ±5 % around the mark. Nothing idle.

  2. 02

    The price drifts

    The mark never stops. Inside the band, both sides quoted.

  3. 03

    Rebuild it

    Break, rebuild on the new price. The fees stay in.

Markets

One capsule per ticker. The sphere is the datum.

Depth first: 6 of 7 books clear the bar, with room to spare.

Open the markets app

Nine states of one band, laid out in a grid: the sphere at a different point along the slot in each, and never in the middle.

Figures

The fees stay in.

Never withdrawn. Reposed straight back in. Auto-compounding.

TVL
— sum of the active positions
Fees collected
— compounded back into the positions
Reposes
— since deployment

Wired, empty until deploy. No estimates.

A lavender capsule resting on a stack of eight yellow discs set slightly out of true: the fees piled up under the position.

Questions

Six things people ask.

Where does the price come from?

Hyperliquid’s XYZ mark. It is the only one still quoting when the equity market is shut.

What happens when the band breaks?

It is destroyed and reposed on the new price. You do not move a concentrated v4 position — you rebuild it.

Why ±5 %?

Dense where the price is, wide enough not to repose on every tick. Efficiency against cost.

Where do the fees go?

Nowhere. They ride into the next band at every repose and compound.

Which markets is DMM deployed on?

Robinhood’s tokenized equities: NVDA, SPY, GOOGL, AAPL, PLTR, SPCX, HIMS. A ticker qualifies once its book can locate the price.

And when the equity market is closed?

That is the moment that counts. The mark moves all night; the band follows.