Getting started
Introduction
What Chord is, who it’s for, and where to go next.
Chord is a batch exchange on Solana. Instead of filling each swap the moment it lands, Chord collects the orders for one pair over a short window and clears all of them together, at one price. Bonded solvers compete to set that price and to fill whatever the batch can’t match inside itself.
#Why batches
On an AMM, where your swap lands in a block decides your price. Someone who buys just before you and sells just after keeps the difference. In a batch, every fill in the pair gets the same price, so the order of orders stops mattering.
- One price per batch. The first order signed and the last order signed clear at the same price, and the price is committed on chain before any fill lands.
- Opposite orders meet. A buy and a sell in the same batch fill each other directly. Only the net imbalance needs outside liquidity.
- Your limit is enforced on chain. The settlement program refuses any fill that pays you less than the minimum you signed.
- Your tokens stay put. Your input stays in your wallet until the transaction that pays you, and that transaction moves both sides at once.
#How it fits together
Three parts work together on every batch.
| Part | What it does |
|---|---|
| Settlement program | Holds the committed price and the solver’s escrow, verifies your signature, and swaps your input for your output in one instruction. |
| Collector | Opens batches, accepts signed orders and solver quotes, picks the winning quote, and submits the commit and fill transactions. |
| Solvers | Quote one price for the whole batch, escrow every output they owe, and keep whatever net inventory the batch leaves them. |
#Start here
QuickstartConnect a wallet, approve once, and place your first order.How a batch worksCollect, solve, commit and settle, slot by slot.Order statesWhat each status in Your orders means.Run a solverBond, quote, escrow, and fill the net.Collector APIEvery public endpoint, request and response.Security modelWhat the program enforces, and what you trust.
#At a glance
| Settlement | Solana program DosESkyr8zE6V98GyS5VkStkknYkeVJzUxYx6AMKT2od |
| Markets | One classic SPL token pair per market |
| Price | One price per batch, written on chain before the first fill |
| Orders | A free wallet signature each, after one allowance transaction per token account |
| Protocol fee | None |
| Token | CHORD, a fixed supply of 1,000,000,000, fair-launched in full. See The CHORD token |
| Custody | Your tokens leave your wallet only in the transaction that pays you |