Exchange Protocol

Litany is the bid-first NFT exchange.

Most NFT marketplaces start with listings. Litany starts with demand. The protocol is designed around active bids near the floor: visible liquidity that supports collections, creates better exits for sellers, and earns from marketplace activity.

Bid the floor. Earn fees. The bid-first NFT exchange.

Core Loop

01 / DiscoverFind markets

Browse collections by floor, bid depth, volume, listings, activity, and native Litany support.

02 / BidPark ETH near floor

Allocate ETH into bid ladders. The system spreads capital across rungs so liquidity is useful instead of decorative.

03 / EarnFees and points

Active bids can earn from marketplace fees and points while they remain valid, executable, and close enough to the market.

04 / ManageTrack rewards

Monitor points, ranks, positions, fee pool state, and future rewards from the marketplace UI.

System Model

Litany Exchange
├── Markets
│   ├── Native Litany collections
│   ├── Curated collections
│   └── On-demand collections
├── Orders
│   ├── Listings
│   ├── Token offers
│   ├── Collection offers
│   └── Criteria offers
├── Liquidity
│   ├── Bid ladders
│   ├── Multi-collection baskets
│   └── Position management
├── Rewards
│   ├── Marketplace fee pool
│   ├── Bidder points
│   ├── Leaderboards
│   └── Referrals
└── Settlement
    ├── Signed intents
    ├── Execution checks
    └── Fill tracking

Product Principles

Principle	Meaning
Demand first	The primary primitive is an executable bid, not a passive listing wall.
Floor-aware	Capital matters most when it is close enough to the floor to be useful.
Composable orders	Listings and offers use portable signed intents with standard execution paths.
Visible incentives	Points, ranks, fee pool stats, and bid depth make liquidity competition legible.

Primary Concepts

Bid depth

Bid depth is the visible demand sitting under a collection. Litany highlights this because bid depth is what makes markets feel alive: sellers can exit, buyers can compete, and collections can measure real demand instead of only listed supply.

Bid ladders

A bid ladder splits a budget into rungs below the floor. Aggressive ladders crowd the floor. Balanced ladders sit a few ticks back. Patient ladders leave room for volatility. See Bid Liquidity.

Signed intents

Litany turns marketplace intent into signed, indexable orders. The exchange checks ownership, balances, approvals, expiration, and cancellation state so the visible book stays useful. See Orders & Settlement.

Rewards

Marketplace fees and points are used to make active liquidity visible and competitive. The live UI tracks points now; claimable rewards open later when the rewards system is enabled. See Fees & Rewards.

Games and Inventory

Litany's games and inventory systems connect back to the same exchange surface: collections need liquidity, players need markets, and agent tooling needs readable state. For Mesh, Homestead, Hollows, Litany Cards, and skills, start with Games.