> ## Documentation Index
> Fetch the complete documentation index at: https://docs.boltliquidity.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading Firms

> Arbitrage desks and market makers: execute inside the convergence rail, not against it.

## The convergence rail is open

Trading firms, whether running arbitrage strategies or making markets, operate on the same edge: the gap between where venues price an asset and where it should be priced. Bolt does not compete with that edge. It structures it.

The <Tooltip tip="Builds a fair price from a cross-venue composite, forecasts its near-term path, and posts one executable convergence price onchain.">Convergence Engine</Tooltip> forecasts the near-term fair price the market is converging toward and posts it onchain. Firms that route through Bolt execute against that price instead of chasing it. The convergence rail turns fragmented venue-by-venue execution into a single synchronized price surface.

<Tabs>
  <Tab title="Arbitrage">
    ## Inside the rail, not chasing it

    Cross-venue arbitrage depends on spotting divergences and executing before they close. The challenge is speed, fragmentation, and competition from other searchers.

    Bolt changes the structure of the opportunity. The Convergence Engine already forecasts where venues are converging. Firms that route through Bolt access that <Tooltip tip="The near-future fair price Bolt may lean toward when short-horizon signal is strong enough. Falls back to the composite when it is not.">convergence price</Tooltip> directly, executing against the price lagging venues are moving toward rather than racing to capture a single divergence before it closes.

    <AccordionGroup>
      <Accordion title="Forecasted convergence, not reactive capture" icon="bullseye" defaultOpen={true}>
        Traditional arb is reactive: spot a divergence, race to fill. Bolt's convergence price is the forecast itself. Executing against it means the firm is positioned where the market is going, not where it was.
      </Accordion>

      <Accordion title="Every divergence recorded" icon="database">
        The <Tooltip tip="A proprietary record of every cross-venue divergence: which venue lagged, by how much, how fast it closed. Accumulated over time, not purchased.">convergence dataset</Tooltip> logs every divergence the engine prices. Firms operating inside the rail benefit from the engine growing sharper over time: tighter spreads, faster convergence identification, more consistent execution.
      </Accordion>

      <Accordion title="No gatekeeper dependency" icon="lock-open">
        Bolt is onchain-native. No exclusive block-builder deals, no offchain signing queues, no priority access tiers. The convergence price is public and executable.
      </Accordion>
    </AccordionGroup>
  </Tab>

  <Tab title="Market Making">
    ## Capital that works harder

    Market makers on traditional AMMs face a structural problem: passive liquidity bleeds to adverse selection. The pool quotes a stale price, informed flow picks it off, and LPs absorb the loss. Bolt separates pricing from the pool entirely.

    <AccordionGroup>
      <Accordion title="Convergence pricing eliminates stale quotes" icon="shield-halved" defaultOpen={true}>
        The Convergence Engine sets the price upstream from real-time cross-venue data. The pool settles against a fresh price, not a lagging bonding curve. Adverse selection drops because the price informed flow executes against is already current.
      </Accordion>

      <Accordion title="Capital turnover, not capital depth" icon="arrows-rotate">
        Bolt's architecture decouples execution quality from how much capital sits in the pool. Capital turnover rates of up to 100x mean a smaller capital commitment produces outsized volume. One dollar recycled many times a day.
      </Accordion>

      <Accordion title="Single-sided deposits, no IL" icon="coins">
        Deposit a single asset. No paired exposure, no range management. Directional risk is hedged externally. Capital reflects deposits plus accrued fees.
      </Accordion>
    </AccordionGroup>
  </Tab>
</Tabs>

## Get started

<Tabs>
  <Tab title="Arb traders">
    Everything you need is onchain. No partnership required to start.

    <Steps>
      <Step title="Read the convergence price">
        Query Bolt's onchain executable quote for supported pairs. The price is public, verifiable, and updated continuously by the Convergence Engine.
      </Step>

      <Step title="Identify divergences">
        Compare the convergence price against other venue prices. When a lagging venue has not yet converged, the spread is your opportunity.
      </Step>

      <Step title="Execute against the Execution Rail">
        Swap onchain against the committed convergence price. Atomic settlement, single transaction, no RFQ latency.
      </Step>
    </Steps>

    <CardGroup cols={2}>
      <Card title="5-Minute Integration" icon="rocket" href="/5-minute-integration">
        Install the SDK and execute your first swap.
      </Card>

      <Card title="How Bolt Works" icon="cog" href="/how-bolt-works">
        The four-step pipeline from market data to settlement.
      </Card>
    </CardGroup>
  </Tab>

  <Tab title="Market makers">
    Market-making partnerships are structured around capital deployment, fee arrangements, and liquidity management. Start with a conversation.

    <Steps>
      <Step title="Talk to the team">
        Discuss asset coverage, capital requirements, fee structure, and hedging infrastructure with the Bolt team.
      </Step>

      <Step title="Deploy capital">
        Deposit into the Execution Rail under agreed terms. Single-sided, hedged inventory, no impermanent loss.
      </Step>

      <Step title="Earn on every settled swap">
        Fees accrue on every trade your capital settles. Capital turnover rates of up to 100x mean a smaller commitment produces outsized volume.
      </Step>
    </Steps>

    <CardGroup cols={2}>
      <Card title="Earn Fees" icon="money-bill" href="/earn-fees">
        How the LP model works within the Execution Rail.
      </Card>

      <Card title="Talk to the Team" icon="envelope" href="/contact">
        Liquidity partnerships, capital strategy, and integration support.
      </Card>
    </CardGroup>
  </Tab>
</Tabs>