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Connect your pricing system to Joyride and quote daily crypto options. Traders request one option or a package of up to 13 legs. You price the package, sign a quote, and receive fill updates when a trader accepts it. Each package fills in one on-chain transaction against both parties’ collateral. A spread fills with all its legs together. Maker trading fees are zero on the standard tier; Fees and Limits covers account terms and settlement charges. To begin, review the commitments below and email support@joyride.exchange for onboarding. You can test your client in the Devnet sandbox before quoting on Mainnet.

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Summary

A sandbox with the same protocol and payloads runs on Solana Devnet at devnet.joyride.exchange.

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How an RFQ works

  1. A taker sends a request naming its legs. Each leg is one instrument, one side, and one quantity. All legs share one underlying and one expiry.
  2. The venue publishes the request as an open event on the rfq_maker channel of the trading WebSocket. Every quoter subscribed to that channel receives it on its own connection and prices the package inside the request window.
  3. Quoters respond with a signed package quote. A directional request asks for one side; a two-way request allows a bid, an ask, or both. The quote stays firm until the expiry the maker sets, at most one hour later. Several makers may answer a request, with one quote each inside its window.
  4. The taker is shown the best price per side and accepts one side of one quote for the whole package.
  5. The fill executes on-chain in one transaction against both parties’ collateral. Every leg lands or none does. The resulting positions settle at expiry against the settlement price.
A spread or a butterfly is never legged: the fill moves collateral and positions for every leg atomically.

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Who quotes

Any user can request quotes. Quoting them requires the exchange’s approval: Joyride designates an approved account as a market maker by granting the quoter role and provisioning its on-chain subaccount. Once the subaccount is funded, the maker authenticates with its wallet and starts receiving requests.

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Timing

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What is not supported

Signed quote payloads include both parties’ subaccount addresses. Quote competition does not provide on-chain identity anonymity. Sessions authenticate with a wallet signature or an existing session token. API Connectivity covers the protocol.

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Next steps

Onboarding starts by email to support@joyride.exchange. Maker onboarding covers account setup. Collateral and margin explains the portfolio calculation. Then choose the maker client or integrate directly using API Connectivity.