How it works
Recorded 2026-11-11.
The fill
A holder who wants out of a large position, or a buyer who wants in, trades at a fixed price through an on-chain escrow. The pool never sees the order, so its price does not move. One instruction moves tokens to the buyer, SOL to the seller, and the fee to the fee wallet. Every leg settles or the transaction fails.
Fees
Fill fee is 1.00% of the SOL leg, paid by the token seller. A seller holding at least 1,000,000 HUSH is specified at 0.50%. The written cap is 2.00%. Half of the fee is specified to buy back and burn HUSH in the same transaction. Half is specified for the treasury.
HUSH supply is 1,000,000,000. All 1,000,000,000 are circulating. Lockup is 0. There is no transfer tax and no extra mint in these terms. Fee SOL is not a yield promise.
Buyer locks
An offer can require a lock on what the buyer of that other token receives: a cliff up to 365 days and a linear release after it. That lock is on the traded coin, not a lock on HUSH. HUSH itself stays fully circulating.
What the program refuses
Only classic SPL or Token-2022 mints without freeze authority. Transfer fee, transfer hook, permanent delegate, non-transferable, default account state, confidential transfers, and mint close authority are refused. Pausing stops new offers, bids, and fills. Cancel, close expired, and claim still return funds.