One buyer, one seller, no pool
Quietfill is an over-the-counter desk for Solana tokens. Two wallets agree a price and swap directly. Because nothing is sold into a liquidity pool, the market price doesn't move.
Overview
On a thin memecoin pool, a large seller fills each token at a worse price than the last, and everyone else holding watches the chart drop. On the desk, the seller gets a fixed price, the buyer accumulates without chasing candles, and the chart keeps reflecting real demand.
| Through the pool | On the desk | |
|---|---|---|
| Your price | Slides with every token sold | Fixed once agreed |
| The chart | A red candle sized to you | Untouched |
| Who sees it | Every bot watching | Your counterparty |
| Partial exits | Swap after swap | Take any slice of an offer |
Quick start
- Connect a wallet (Phantom, Solflare, Backpack or any Wallet Standard wallet). The wallet is the account.
- Pick a coin from Markets, or start from a bag you hold in Positions.
- Set a size and a price relative to market. The ticket shows what the pool would pay for the same size.
- Sign the terms (free), then approve an allowance for your side in one small transaction.
- Watch it from Positions and cancel whenever you like.
Bids, asks and private offers
A bid is SOL per token for up to some number of tokens. It usually sits a little under market but above what the pool would pay, so a holder is better off taking it.
An ask lists part or all of a bag. The desk checks on-chain that your wallet holds it and has approved it before it goes live. From Positions, Sell OTC fills the coin in for you.
A private offer names one wallet. It stays out of the public lists and only that wallet can accept it. Open Bags, paste an address, and press Offer on this bag.
Offers expire after 1 hour to 30 days. With partial fills on, anyone can take a slice and the rest stays open; with them off, it's all or nothing.
Pricing
You price relative to the live market (from DexScreener), with presets at market and 2, 5, 10 and 20% below, plus one-percent steps. Two numbers matter: the market price, and the pool exit, the average a pool would pay for your size. A bid between the two is good for both sides.
Measuring impact
Each coin's pools are modelled as one constant-product pool with half the liquidity on each side. Selling D dollars into a side holding R fills at an average of R / (R + D) of spot and leaves the price at (R / (R + D))². For a coin with $2.00M of liquidity:
| Sale | Average slippage | Chart moves |
|---|---|---|
| $10.0K | -1.0% | -2.0% |
| $50.0K | -4.8% | -9.3% |
| $100.0K | -9.1% | -17.4% |
| $250.0K | -20.0% | -36.0% |
| $500.0K | -33.3% | -55.6% |
Real liquidity is split across several pools and curves, so these are estimates with the right shape.
Approvals and where funds sit
Posting, cancelling and adding a coin each start with a free signature over a short text that lists every term. It can't move funds; it proves the terms came from you. Each one carries a nonce and a timestamp, expires after ten minutes, and works once.
Your side never leaves your wallet until someone takes it. For an ask you approve a standard token allowance (an SPL delegate) to the desk's key for the total of your open asks on that coin. For a bid your SOL is wrapped and you approve an allowance for the total of your open bids. Cancelling lets you lower the allowance, or revoke it and unwrap your SOL if nothing else is open.
A token account holds one allowance at a time. If another app sets its own allowance on the same account, it replaces the desk's and your offers stop being fillable until you post again.
Filling an offer
The desk checks the offer, reserves the amount so no one else is handed the same tokens, and builds one transaction with two legs: the taker pays the maker, and the maker's approved side moves to the taker. The desk co-signs it, the taker approves it in their wallet, and it lands atomically or not at all. The taker pays the network fee, plus a small one-time rent if the other side needs a new token account.
The desk's key only signs transactions the desk built, each moving at most the reserved amount and paying the maker in the same transaction. The key never holds funds and never pays fees.
Risk
- Memecoins move fast. A generous offer can look expensive an hour later; pick an expiry you're comfortable with.
- Impact figures are estimates from quoted liquidity.
- Anyone can add a coin. Confirm the mint address before trading it.
- A private offer is only an offer; the holder can ignore it.
- The rules above are enforced by the desk's server, not by an on-chain program. While your allowance is open you are trusting the desk's key. Keep allowances no larger than your open offers.