Maker API · v1

Endpoints

{
  "success": true,
  "quote": {
    "quote_id": "b2c98e2c-…",
    "rfq_id": "rfq-…",
    "side": "buy",
    "price": 0.182,
    "size": 100,
    "fairValue": 0.175,
    "spread_bps": 412,
    "greeks": { "delta": 0.62, "gamma": -0.01, "vega": 0.004, "theta": -0.002 },
    "expires_in_ms": 2000
  },
  "meta": {
    "broadcastId": "…",
    "rfqDeadlineMs": 800,
    "makersConnected": 1,
    "quotesReceivedExternal": 1,
    "winningSource": "external",
    "winningMakerId": "mm1-demo"
  }
}

Relay → maker

First frame after connect: {"type":"connected",…}. Each RFQ:

{
  "type": "rfq",
  "broadcastId": "6d2c7b3a-…",
  "deadlineIso": "2026-05-08T14:03:09.881Z",
  "timeoutMs": 800,
  "envelope": {
    "signature": "0x…",
    "signatureEncoding": "eip712",
    "payload": {
      "version": 2,
      "rfqId": "rfq-…",
      "wallet": "0x…",
      "createdAt": "2026-05-08T14:03:09.081Z",
      "market": {
        "conditionId": "0x…",
        "yesTokenId": "12345…",
        "question": "Will …?"
      },
      "option": {
        "optionType": "call",
        "strikeBps": 50,
        "strike": 0.5,
        "expiry": "May 31",
        "expiryMs": 1717189200000,
        "tauDays": 21.5,
        "sigmaL": 2,
        "currentYesPrice": 0.48,
        "isResolutionExpiry": false
      },
      "trade": { "side": "buy", "size": 100 }
    }
  }
}

Maker → relay

{
  "type": "quote",
  "broadcastId": "6d2c7b3a-…",
  "makerId": "your-firm-mm1",
  "quote": {
    "quote_id": "client-generated-uuid",
    "rfq_id": "same-as-envelope.payload.rfqId",
    "side": "buy",
    "price": 0.18,
    "size": 100,
    "fairValue": 0.175,
    "spread_bps": 420,
    "greeks": { "delta": 0.61, "gamma": -0.01, "vega": 0.004, "theta": -0.002 },
    "expires_in_ms": 5000
  }
}

• quote.rfq_id must match the RFQ. quote.side mirrors the wallet's aggressor direction (buy ↔ user lifts the offer, sell ↔ user hits the bid).
• quote.size must be ≥ half of payload trade.size (soft liquidity check until partial fills ship).
• price is quoted per one unit of the option notion in 0–1 probability-dollars, consistent with Convallax's RFQ pane.

Winner selection

Among valid quotes matching rfq_id + side: if the user is buy, the lowest price wins; if sell, the highest wins. Quotes outside (0,1) or mis-sized are rejected.

Environment variables (relay)

MM1 starter (Node)

Drop into a standalone repo pointed at localhost or your staging URL; replace the placeholder pricer with your inventory + model stack.

const WebSocket = require("ws");
const url = process.env.CONVALLAX_WS || "ws://localhost:3001/maker/v1/ws";
const qs = process.env.MAKER_API_KEY ? "?apiKey=" + encodeURIComponent(process.env.MAKER_API_KEY) : "";
const ws = new WebSocket(url + qs);

ws.on("open", () => console.log("maker connected"));
ws.on("message", (raw) => {
  const msg = JSON.parse(raw.toString());
  if (msg.type !== "rfq") return;

  const p = msg.envelope.payload;
  const px = Number(p.option?.currentYesPrice ?? 0.48) + 0.005; // placeholder
  ws.send(JSON.stringify({
    type: "quote",
    broadcastId: msg.broadcastId,
    makerId: "MM1-demo",
    quote: {
      quote_id: crypto.randomUUID(),
      rfq_id: p.rfqId,
      side: p.trade.side === "sell" ? "sell" : "buy",
      price: Math.min(0.99, Math.max(0.01, px)),
      size: Number(p.trade.size) || 1,
      fairValue: px,
      spread_bps: 100,
      greeks: { delta: 0.5, gamma: 0, vega: 0.01, theta: 0 },
      expires_in_ms: 60_000
    }
  }));
});