Create your first market
A market on BATHRON is a pair X/M1 that exists the moment someone brings inventory in X
and in M1 and starts quoting. There is no listing form, no committee and no fee to pay
anyone: the protocol never validates a pair, and Operators cannot approve or refuse one. This
page walks through what you need and the four steps from inventory to a live market.
What you need
| Component | Purpose |
|---|---|
| BATHRON full node | validate and settle the M1 side yourself (Run a node) |
| Inventory in the paired asset | the X side of X/M1 — for a BTC pair, native bitcoin |
| M1 inventory | acquired from an existing holder, or through the burn route (From destroyed BTC to M1) — irreversible, so price it as a cost |
| A Bitcoin wallet | if the pair is BTC: fund and claim the Bitcoin leg of each settlement |
| CP / LP software | quotes, orchestration, inventory and risk limits (see below) |
Provider revenue is explicit fees and spread. Provider risk includes irreversible inventory acquisition, liquidity, pricing, operations and software failure — see Roles.
The prototypes
Two historical prototypes, decommissioned — their state belonged to a superseded network and neither service is running. They are read as illustrations of the two commercial roles, not as software to point at:
pna-lp— a Liquidity Provider service. It holds inventory, prices a pair and exposes quotes over plain HTTP:GET /api/statusfor health, andGET /api/quote?from=…&to=…&amount=…for a price on a given amount and direction.pna-swap— the swap UI. It reads quotes from one or more LP endpoints and drives a settlement from the client's side.
One participant can run both, but a Clearing Provider may aggregate several LPs; the protocol does not care how they are arranged.
The four steps
- Bring inventory. Fund your BATHRON wallet with M1 (Run a wallet) and your Bitcoin (or other) wallet with the paired asset.
- Publish quotes. Run
pna-lp(or your own service) and expose/api/quotefor your pair. Quotes live off-chain (Quotes live off-chain, settlement on-chain); nothing is written to the chain until someone settles. - A counterparty settles. A client accepts a quote; the two legs are locked and settled with the atomic pair or one of the settlement patterns. Consensus enforces the outcome.
- Others join. Anyone else can quote the same pair, aggregate your quotes, or pair a new asset. Nobody approves the pair; competition sets the spread.
The current software demonstrates quoting and individual settlement components; it must not be represented as a generally atomic or risk-free client service — see Status & claims.
Interested in evaluating the economics? Contact us.
See also: How a market appears · Pairing an external asset against M1 · Patterns for providers