Introduction
Roles in Fiet
Learn about the key participants in the Fiet Protocol and how they drive DeFi markets.
The Fiet Protocol brings together various participants to create efficient, liquid DeFi markets. Each role—market makers, traders, settlement guarantors, provers, and integration partners—plays a vital part in bridging traditional finance (TradFi) and decentralised finance (DeFi) using verified liquidity. Below, explore how these roles contribute to Fiet’s ecosystem.
Fiet’s open design allows anyone to participate as a market maker, trader, or future governance member.
Market Makers
Market makers (MMs) are the backbone of Fiet’s liquidity. They commit verified reserve liquidity (e.g., funds in banks or exchanges) to automated market makers (AMMs) without locking capital. Using zkTLS proofs, MMs ensure their reserves are authentic, earning trading fees while maintaining flexibility to manage funds dynamically.Traders
Traders use Fiet’s decentralised exchange (DEX) to swap assets, such as local stablecoins or cryptocurrencies, with low slippage and costs. They interact with Liquidity Commitment Certificates (LCCs) to access deep liquidity, benefiting from markets powered by MMs’ verified reserves.Traders can engage in cost-efficient foreign exchange or trade real-world assets in Fiet’s markets. See Use Cases.
Settlement Guarantors
Settlement guarantors ensure market stability by stepping in if MMs fail to deliver liquidity. They settle obligations on behalf of failing MMs, seizing their collateral or liquidity positions as profit. This role incentivises reliability and protects traders.Provers
Provers generate zkTLS proofs to verify MMs’ reserve liquidity, ensuring trust and privacy. Currently managed by Usher Labs, this role will decentralise in the future, allowing others to participate and earn rewards via the planned FIET token.The FIET token and Fiet DAO, set for future launch, will enable community governance and rewards for provers and MMs.
Integration Partners
Integration partners, such as fintechs, wallets, or DeFi platforms, simplify trader access to Fiet’s markets. They use Fiet’s libraries to handle LCCs, enabling seamless swaps or fiat-to-crypto conversions, enhancing user experience across ecosystems.Get Involved
Join Fiet’s ecosystem in a role that suits you:- Markets: Learn how MMs and traders interact with AMM pools.
- Verified Reserve Liquidity: Understand how provers verify liquidity.
- Rewards: Explore future incentives via the FIET token.
- Technical Specification: Dive into detailed role mechanics.
- Join the Community: Connect on Discord to start participating.
Fiet’s Participant Ecosystem