> ## Documentation Index
> Fetch the complete documentation index at: https://docs.gtfo.vc/llms.txt
> Use this file to discover all available pages before exploring further.

# Price levels

Market makers on 1st are required to quote liquidity across **20 price levels on each side** of the order book.

Liquidity per level typically ranges from **\$500 to \$5,000**, depending on demand in the market and the amount of mirror token supply available from imported allocations.

Price level requirements are not static. Liquidity depth and sizing are adjusted continuously based on:

* The supply of mirror tokens in the market
* Trading activity and demand
* The amount of VC allocations imported

All adjustments are made collaboratively between the market maker and 1st to ensure sufficient depth and orderly trading conditions for each listed pair.