The sponsored liquidity layer for tokenized assets.
Qualiq is a protocol to connect tokenized assets to liquidity. Sponsors fund quality budgets that pay for measurable execution that can be measured and paid-out on-chain.
The liquidity gap
Spreads from Qualiq's dealer network are consistently better than existing liquidity sources for tokenized equities.
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.
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.
A platform for multi-dealer RFQ/liquidity, with execution priced in public.
Issuers and venues codify their KPIs and rewards on-chain and sponsor liquidity directly. Dealers compete on signed quotes, and every fill is scored publicly per dealer in real time. The protocol is asset and chain-agnostic; v1 is on Solana, starting with tokenized equities.
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01Inventory
Dealers deposit on-chain or self-custody. Inventory shortfall is reflected as a hit to the public score.
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02Quotes
Continuous, signed quotes against each dealer's canonical fair-value reference, per block.
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03Match
Qualiq aggregates and routes each incoming order to the best available quote.
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04Score
Every fill is scored publicly, per dealer, in real time — fill rate, slippage versus reference, uptime.
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05Settle
Atomic on-chain settlement. Sponsor budgets distribute weekly via Merkle proof on measured quality.
Proven architecture. Open network. New economics.
Qualiq's structural shape is not new. Multi-dealer RFQ is the architecture of TradFi comparables like 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.
| MarketAxess / Tradeweb (TradFi comparables) | Closed-loop stack | 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 budgets | No | 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 that have been announced recently 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.
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.
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.
hello@qualiq.xyz · @qualiq