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Four categories, one missing entity

Every approach to onchain execution today does one of three things: operates offchain, works one venue at a time, or routes around the problem. None captures cross-venue inefficiency natively and onchain. Bolt holds four capabilities together. Others hold some.
  1. Synchronizes all venues to one price. Not just prices or executes on a single venue.
  2. No gatekeeper dependency. No reliance on exclusive block-builder or venue relationships.
  3. Prices ahead of every venue. Forecasts convergence rather than reporting or reacting.
  4. Captures the spread across all venues. Paid for the synchronization, not just providing data.

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Capability matrix

Bolt is the only one that is cross-venue and onchain on every row.

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Category-by-category contrast

What they do: Capture cross-venue CEX-DEX arbitrage via exclusive deals with block builders.The structural difference: They run an offchain stack that pays for blockspace and depends on vertical builder integration that regulators are increasingly scrutinizing. They capture one divergence at a time and move on. Bolt is onchain-native with no gatekeeper dependency, forecasts convergence continuously, and records every divergence as data. The mechanism is durable where the builder-deal model is not.

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The three canonical distinctions

Oracles report past prices. Bolt forecasts the near-term fair price and quotes it as an executable convergence price.
Arbitrage executes convergence once and moves on. Bolt forecasts and coordinates convergence continuously, and records every divergence as data.
Market makers optimize execution venue by venue. Bolt synchronizes the whole market to one price.

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Capital efficiency comparison

See Capital Efficiency for the full breakdown of how convergence pricing decouples execution quality from capital depth.

Capital Efficiency

How convergence pricing decouples execution quality from capital depth.

How Bolt Works

The four-step pipeline from market data to settlement.