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

# Is there a minimum trade size?

> Yes — the schedule primitive is cents-quantized with a $0.01 floor and a ~$42.9M per-schedule ceiling. Out-of-scope retail is excluded by design.

> **CONFIDENTIAL & PROPRIETARY © 2026 Inkwell Finance, Inc. All Rights Reserved.**
>
> This document is for informational purposes only and does not constitute legal, tax, or investment advice, nor an offer to sell or a solicitation to buy any security or other financial instrument. Any examples, structures, or flows described here are design intent only and may change.

## The structural answer

Dagon's submission primitive is a six-parameter *schedule*, not a
point order. Schedule amounts are quantized to cents, which gives:

* **Floor:** \$0.01 per schedule. This is the smallest representable
  amount in the primitive.
* **Ceiling:** \~\$42.9M per schedule. This is the largest amount that
  fits the schedule's fixed-width integer representation.

Per-schedule, not per-user. A single user can submit multiple schedules
per batch; anonymous credential rotation preserves the `1/N`
lane-anonymity bound across schedules from the same submitter.

## Why a floor at all

Dagon is not a retail venue. Retail-sized micro-transactions are out of
scope by design because:

* The batch-clearing mechanism amortizes per-epoch cost across
  participants. Below a certain notional the batch economics don't work.
* The institutional posture (Reg ATS / MiCA / MiFID II compliance claims)
  depends on not being a retail gateway.
* Swapping to a lit AMM is the right tool for small trades; sub-cent
  execution isn't what this venue is for.

## What this means per audience

* **Institutional MMs / block desks:** the primitive is designed for
  you. A full six-parameter inventory schedule fits a single
  submission; curve shapes can cover depth ranging from a few thousand
  dollars up to \~\$42.9M per schedule. Multi-schedule submission scales
  deeper.
* **Sophisticated individual traders (seven-figure+ portfolios):**
  welcome. There is no gated whitelist beyond the credential. Your
  execution economics depend on how you size relative to other
  participants in the same batch.
* **Mass retail:** use an AMM. Dagon accepts submissions down to the
  cent floor, but at that scale the per-batch mechanics don't give
  you a better outcome than lit liquidity.

## Credential requirement

Every participant, regardless of size, must hold a valid BBS+ or
Coconut credential from a credential issuer. Credentials are issued
after KYC (per the issuer's policy). There is no anonymous deposit.

This is the compliance surface that makes
[selective disclosure](/dagon/concepts/selective-disclosure) possible.
It is also the reason Dagon is
[not a mixer](/dagon/faq/is-this-a-mixer).

## Further reading

* [Batch clearing](/dagon/concepts/batch-clearing)
* [Is this a mixer?](/dagon/faq/is-this-a-mixer)