Getting started
OpenProp is a SOL/USDC venue on Solana. Liquidity providers deposit into one shared vault, bonded quoters price that vault on their own books, and takers swap against the best live book. Every fill passes the program's checks before it happens.
This guide covers what you need before your first transaction. Each role then has its own page: Providing liquidity, Swapping and Quoting.
What you need
- A Solana wallet that supports the Wallet Standard and version-0 transactions: Phantom, Solflare, Backpack and most current browser wallets do. Hardware wallets connected over USB are not supported in the app.
- SOL for network fees. Each transaction costs a base fee plus a small priority fee; 0.01 SOL covers many transactions. Opening a token account for the first time also takes its rent deposit, about 0.002 SOL, which stays in the account.
- The assets for your role. Liquidity providers deposit SOL and USDC; quoters post a USDC bond; takers swap either asset.
OpenProp uses native SOL and the cluster's official Circle USDC. You never need to wrap SOL yourself: when a transaction takes or returns SOL, it opens a temporary wrapped-SOL account, uses it and closes it again in the same transaction, so the SOL lands back in your wallet.
Connect your wallet
- Open the app at https://openprop.trade/app.
- Select Connect wallet in the top bar and choose your wallet from the list. The list shows the wallets installed in this browser.
- Approve the connection in the wallet. OpenProp asks only for your public address.
The top bar then shows your address and your SOL, USDC and vault share balances. Disconnect from the same menu.
OpenProp runs on Solana mainnet. Make sure your wallet is set to the same network, or it will show different balances and refuse to sign.
How a transaction works
Every action in the app follows the same path:
- You fill in the form. The app shows a preview computed from the live vault, book and reference price.
- The OpenProp API builds the transaction from the current on-chain state — the accounts it touches, any token accounts it needs, the compute budget — and simulates it.
- If the simulation fails, the app shows the program's reason and nothing is sent. If it succeeds, your wallet opens with the transaction to approve.
- Your wallet signs and sends it. The app follows the signature until the cluster confirms it and refreshes your balances.
The API never holds your keys. It returns an unsigned transaction; only your wallet can sign it. Every transaction states its limits — the least you will accept from a swap, the fewest shares you will accept for a deposit — and the program rejects it whole if those limits are not met.
Where things are
| Page | What it shows |
|---|---|
| Vault | Deposit, your position, withdrawal requests and claims |
| Books | Every registered book with its state, tier, bond, allocation, mid, best bid and ask and quote age; open one for its ladder, recent fills and a swap |
| Epochs | Each epoch's settlement: excess per book and how it was split |
| Incidents | Every limit trip and halt, with the slot and the value that crossed the line |
| Quoter | The quoter desk: register, bond, tier and score, quote key, pause and resume, unbond |
Network status
The pair indicator in the top bar shows the reference price and whether the pair is Live or Halted. A halt stops swaps on every book until the reference recovers; deposits, withdrawal requests and claims keep working. The Incidents page records why.
Reading the numbers
- Prices are in USDC per SOL.
- Amounts show in SOL and USDC. Under the hood the program counts SOL in lamports (10⁻⁹ SOL) and USDC in micros (10⁻⁶ USDC), and the API returns those integers as decimal strings.
- Vault shares (OPLP) have 6 decimals.
- Time on chain is counted in slots, about 200 ms each, and OpenProp epochs of 432,000 slots, about 24 hours.