> For the complete documentation index, see [llms.txt](https://docs.native.org/native-dev/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.native.org/native-dev/concepts/market-responsive-pricing.md).

# Market-Responsive Pricing

Native pricing is **Market-Responsive**: market makers price each token accurately and promptly based on market risk, conditions, and inventory exposure. Because of this, quotes reflect liquidity sourced from on-chain DEXs, institutional venues, and/or direct redemption channels — ultimately responding to the real market rather than a static curve.

On [Native Core](/native-dev/modules/native-core.md), this pricing is expressed directly as maker orders on the [CLOB](/native-dev/concepts/central-limit-orderbook.md), where professional market makers connect through [Native Pro](/native-dev/modules/native-pro.md) to post real-time bid/ask. Integrators reach the same liquidity through [Native Relay](/native-dev/modules/native-relay.md):

#### On-chain order book

The Native Core order book returns the best pricing for each pair, with levels representing the available liquidity at each price. Orders match deterministically by price-time priority.

#### Firm quote (RFQ)

For integrators using [RFQ mode](/native-dev/concepts/integration-modes.md), [Native Relay](/native-dev/modules/native-relay.md) returns a [firm quote](/native-dev/concepts/firm-quote.md) with signed, executable calldata for a given swap. If the quote is favourable, the calldata is executed before its expiration to complete the swap.


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