Over 100x daily capital turnover
Capital turnover measures how much client volume each dollar of onchain liquidity supports in a day. In pool-based markets, improving price quality and execution often means committing more capital to depth, whether directly from treasury, from LPs, or through incentives. Bolt changes that relationship by separating price formation from local pool depth. The executable price is derived from the broader market. Pool liquidity can therefore be deployed around execution requirements instead of carrying the additional job of creating local price depth. That is what allows the same onchain liquidity to support substantially more trading activity. Execution capacity scales with deployed inventory, can differ by direction, and is determined at quote time. Where an agreement specifies execution limits, those limits govern the deployment.What that looks like in practice
Illustrative only. These figures show the arithmetic of the measure. Actual executable capacity depends on available inventory and the limits applicable to each quote.At 100x daily turnover, $1,000 of onchain liquidity supports $100,000 in daily client volume. $5,000 supports $500,000.What scales with what
The compounding effect
Capital efficiency improves as Bolt operates across more markets and conditions. Broader coverage gives the pricing system more market context, improving calibration and supporting tighter, more competitive quotes over time. As pricing improves, Bolt can attract more flow, expanding the set of conditions the system operates across and strengthening the flywheel.Separating Price from Pool Depth
Why the requirement was removable.
Asset Issuers & Foundations
What it looks like for the party funding the market.