Choosing a market maker is not only about algorithms, exchange coverage, or pricing. It is also about trust.
In this article, Maxim Moris, CEO and co-founder of Cicada, explains why founders need both transparency and professionalism when choosing a long-term market-making partner.
A market maker works directly with a project’s liquidity, market structure, trading environment, and reputation. Founders cannot see every order or algorithmic decision, which makes trust and clear communication essential.
One Cicada client spent months believing the market maker was responsible for pressure on the token price. The real issue turned out to be internal: one of the project’s own co-founders had been minting and selling tokens into the market. The case shows why founders need to understand the full market picture before drawing conclusions.
Five red flags when choosing a market makerFounders should be cautious if a provider:
Promises guaranteed price growth, “10x” returns, or Tier-1 listings;
Offers “free” market making without explaining how it earns;provides no real-time dashboard or transparent trading data;gives access only to BD teams, not traders or leadership;
Has no visible team, regulatory structure, or identifiable people behind the company.
A professional market maker should clearly explain its infrastructure, strategy, exchange-specific approach, and who will actually manage the project after signing.
What founders should askBefore choosing a provider, founders should ask about experience, algorithms, exchange requirements, account management, access to traders, and previous cases where something went wrong.
A strong market maker should also ask questions in return about tokenomics, unlocks, liquidity distribution, marketing plans, and listing strategy.
For Cicada, the strongest partnerships combine technical capability with transparency, honesty, and aligned incentives. Founders should understand the contract, verify the team, and make sure the market maker’s interests support the project’s long-term growth.
Watch the full video on YouTube
