Open dealer network · Solana mainnet

The on-chain platform for transparent and quality liquidity.

Qualiq is a multi-dealer RFQ for tokenized assets. Makers compete on signed quotes, every fill is scored publicly per dealer in real time, and sponsors fund the quality budgets that pay for measurable execution. Atomic settlement, every block.

For partners For investors
v1 surface · Tokenized RWAs Settlement · Atomic, on-chain Chain · Solana
Qualiq vs Solana AMMs · 90 days

What our dealers would have saved.

Historical replay against every tokenized-stock and tokenized-gold swap on Solana mainnet over the last 90 days. Real swaps, real fair-value references, real signed quotes from our reference dealer bot — measured against what users actually paid. Including the swaps where we'd have lost.

Solana mainnet · 90-day backtest Historical replay
Real swaps observed
—
across RWA pairs
Savings vs AMM
$0
sampled · net of gas
Avg spread saved
0.0 bps
tighter than AMM
Worse than AMM
0.0%
we publish those too
Method emavol_v2 Methodology →   Where we lost →   Full research →
01 · Sponsor
Fund a USDC
quality budget
Issuers, perp DEX deployers, exchange operators. Sponsor economics →
02 · Dealers
Compete on
signed quotes
Public per-dealer execution scoring on chain. Every block, every fill, every signature auditable.
03 · Protocol
Pay top performers
by Merkle proof
Atomic, non-custodial, no human in the loop. Settled every epoch in USDC.
The problem

The market is real. The liquidity isn't.

Tokenized real-world assets crossed $19.3B in market cap in Q1 2026, up 256% YoY. Tokenized gold spot did $90B in a single quarter. RWA perp volume hit $524.8B in the same window.

The liquidity to support that flow has not arrived with it. Lighter pays $250k a week to attract market makers for RWA perps. HIP-3 deployers each bond ~$25M to operate markets they have no liquidity for. At Paris Blockchain Week 2026, executives from Tether and Ondo said the quiet part out loud:

"It's not that if you put an asset on-chain, it will be liquid." — Tokenization panel, Paris Blockchain Week 2026

Existing solutions take one of two shapes. Centralized: closed-loop integrated stacks where one issuer, one market maker, and one distribution surface are pre-negotiated together. Decentralized: incentive-driven AMM emissions that reward LPs for chasing rewards, not flow. Tokenization as an act has been solved. The dealer network underneath has not.

The product

A multi-dealer RFQ, with execution priced in public.

Issuers and venues codify their KPIs and rewards on-chain and sponsor liquidity directly. Dealers compete on signed quotes. Every fill is scored publicly per dealer in real time. The protocol is asset and chain-agnostic; v1 is on Solana, starting with tokenized RWAs.

  1. 01
    Inventory

    Dealers deposit on-chain or self-custody. Inventory shortfall is reflected as a hit to the public score.

  2. 02
    Quotes

    Continuous, signed quotes against each dealer's canonical fair-value reference, per block.

  3. 03
    Match

    Qualiq aggregates and routes each incoming order to the best available quote.

  4. 04
    Score

    Every fill is scored publicly, per dealer, in real time — fill rate, slippage versus reference, uptime.

  5. 05
    Settle

    Atomic on-chain settlement. Sponsor budgets distribute weekly via Merkle proof on measured quality.

Why this works

Proven architecture. Open network. New economics.

Qualiq's structural shape is not new. Multi-dealer RFQ is the architecture of MarketAxess ($3.4B market cap, corporate bonds) and Tradeweb ($24B, Treasuries and FX). What's new is what the on-chain context allows that TradFi RFQ cannot: public per-dealer scoring and sponsor-funded quality budgets. TradFi can't expose dealer scores publicly because the underlying NBBO isn't canonical and dealers would be exposed to front-running. Tokenized RWAs don't have that asymmetry.

MarketAxess / Tradeweb Securitize × Jump × Jupiter Qualiq
Multi-dealer RFQ Yes No · single PropAMM Yes
Atomic settlement No · T+1 bilateral Yes · on-chain Yes · on-chain
Public per-dealer scoring No · private TCA No · vertically integrated Yes · real-time public
Sponsor-funded quality budgetsNo No Yes
Open to any maker / issuer Qualified-only Pre-negotiated counterparties Any maker, any issuer, any aggregator
Asset class Bonds, Treasuries, FX Tokenized US equities Tokenized RWAs + crypto-native

Closed-loop integrated stacks like Securitize × Jump × Jupiter validate the architecture and the demand. Both architectures will exist; they cover different surfaces. Qualiq is the open-network counterpart — the dealer network that compounds across stacks.

Public scoring

Every dealer. Every fill. In public.

The dashboard answers the question every block: is the maker doing a good job? Below is an illustrative version of the public score panel — fill rate, slippage versus reference, uptime, composite score, with rank movement marked as it happens.

Synthetic data. No live dealer is named. Real public scores ship with the protocol's mainnet release.

Who we are

Someone who knows how the bad pattern works, and someone who has been the first to fix one before.

Founder

Built one side of the market structure that needs fixing.

Led the buildout of market making strategies at a top crypto prop trading firm through the AMM evolution and the TMM meta — became one of the top makers by volume.

The work directly engaged the dynamics 0x identified in their March 2026 research on PropAMM incentives: structures that rewarded sophisticated execution but didn't reward sustained quality. That experience is what makes him qualified to build the venue that aligns those incentives properly.

Co-founder

Co-founded one of crypto's largest market makers and exchanges.

Scaled it through multiple cycles to over $1 trillion in cumulative trading volume across CEX, OTC, and DeFi venues. Developed the playbook for cold-starting liquidity at institutional scale.

Anchor dealer for v1 — day-one liquidity for 5–10 tokenized RWAs.

Contact

Building the dealer network for tokenized assets.

Devnet alpha live end-to-end. Replay report shipping in 8 weeks. First perp DEX integration in conversation.

For dealers, sponsors, and venues: write to us about onboarding, integration, or sponsor budgets. For investors: see the raise page or track the milestones in the replay report.

hello@qualiq.xyz · @qualiq