Proof of Liquidity and DEX Management

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Your protocol treasury has three buckets

• Raised Capital: Fiat & stablecoins from your raise
• CEX liquidity: Tokens with market makers
• Protocol-owned liquidity

The 1st two are largely decided at TGE.

The 3rd, your token, onchain, in your own pools, is where you have the most control. 

And it's where most protocols leave serious value on the table.

When you hand everything to a CEX market maker, you're giving someone with misaligned incentives full visibility into your exit schedule. 

They profit from your volatility, not your stability.

But when you manage DEX liquidity actively with concentrated positions, the pool does the work for you, converting tokens to stables on up moves, accumulating at a discount during unlocks, and generating LP fee revenue on every trade in between.

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Agenda

• The market maker trap
• The DEX opportunity
• Three liquidity playbooks: up moves, token unlocks, and rangebound markets
• Coordination: Aligning protocol, founders, VCs, and market makers.