Launching a token is hard. Managing liquidity in the wild world of crypto is even harder. That’s why most projects rely on Market Makers (MMs) to help stabilize their token, build investor confidence, and ensure healthy trading activity.

But here’s the tough question: how do you really know if your Market Maker is doing their job?

It’s not enough to look at green candles or trust vague promises. What matters is tracking the right indicators, knowing what you can measure in-house, and when it’s time to bring in external validation.

What You Can Track In-House

There are three fundamental metrics every project should monitor:

• Depth of Order Book – Is there enough liquidity on both sides to support trading without wild swings
• Spread Efficiency – How tight are the spreads between bids and asks, especially compared to similar tokens?
• Slippage on Trades – Do regular-sized trades move the market too much? That’s a sign of weak liquidity management.

If these metrics look consistently healthy, your MM is on the right track. If not, it’s time to ask deeper questions.

When to Call in External Auditors

Sometimes, surface-level metrics look good but hide underlying issues. This is where external partners play a key role:

• Fake Volume Suspicion – Are reported volumes real, or just wash trading?
• Fragile Liquidity – Spreads look fine until a bigger trade comes in and the book collapses.
• Key Market Moments – Does liquidity vanish right when you need it most, like around big announcements?

At Vortex, we don’t see audits as finger-pointing. Instead, they’re growth levers. An honest audit uncovers blind spots and shows teams exactly where they can improve.

Closing the Loop: Audit → Analyze → Improve

This is where collaboration matters. By working with partners like Primelink, we’re able to bring transparency into an area that too often runs on opacity. Primelink’s independent audits, combined with Vortex’s liquidity expertise, help teams:

• Audit their current MM setup
• Analyze where strategies are working (or failing)
• Improve liquidity operations with data-driven adjustments

The result? More trust, more confidence, and a stronger foundation for token growth.

Crypto moves fast. Teams don’t just need liquidity, they need the right kind of liquidity. Knowing how to measure and validate your Market Maker’s performance could mean the difference between a stable ecosystem and one that burns out too soon.

With the right checks in place, you don’t just survive the market, you thrive in it.