Most engagements fall into one of two categories:

• Loan plus call option market makers: The project lends tokens to the market maker, paired with call options at predefined strike prices. The market maker deploys its own capital and is compensated through the optionality embedded in the call options.
• Retainer and working capital market makers: The project provides both tokens and stablecoins as working capital. The market maker operates as a service provider, executing a defined liquidity mandate in exchange for a monthly retainer and, often, a profit-sharing arrangement.

Each model attracts different counterparties, incentives, risks, and optimal use cases. The right choice depends on your project's capital position, risk tolerance, and strategic priorities.