Paper · read only · nothing signed

Open the
book.

Connect a wallet, pick a token, and set a paper position around NAV. The book lives in this browser, on that address. Prices come from the desk. No transaction is signed.

Loading the desk…

01Wallet

Connect Phantom, Solflare, or Backpack. The desk reads the public address and balances through its own proxy. It does not ask for a signature.

02Token Token

03Paper size

Paper USDC

Own tokens on the ask, from day one

Own tokens sit on the ask from the start. Paper USDC is not taken from the wallet. It is a number in the book.

04Bid, under NAV

Starts at %

Depth, ends at %

Uniform across the band. Never below 30% under NAV.

05Ask, over NAV

Starts at %

Ends at %

06Bought tokens Stay in place. Round trip: they sell back in the band where they were bought, under NAV. Default. Move half. Half of each fill goes to the ask. Half stays for the round trip. Move all. Every token bought moves to the ask, to sell over NAV.

House rules, always on

No bid below 30% under NAV. A price already under that line does not get bought.
Pool NAV steps down each week by the monthly allowance times 12/52, per token, and snaps to each official 01R NAV.
New bids pause when the last official 01R NAV is more than 45 days old. That pause starts only after a first 01R NAV. USDC waits.
Paper size for all wallets together stays inside 5% of that token's MetaDAO pool liquidity.
Swap fees are marked to a fee-split program as fee owner. The desk cut is 20%. The rest is yours. The program id is empty and real mode is off, so this split is paper accounting.
A pool opens only when MetaDAO liquidity is at least $50,000 and NAV is reliable. Every other token stays read only.

Read only

Shared capacity

Layout at today's NAV

Your paper book

Connect a wallet to see the book stored on its address.

Jupiter quote

Unsigned preview from Swap API v2 build. Platform fee 0.25% (25 bps). Nothing is signed or submitted. The fee account stays empty until the desk fee wallet has a USDC account, so the live route is asked without one and the fee is still shown here.

Direction

Amount