Four recorded outcomes, one clear rule.
- 1
Set the order
The holder approved a capped amount and set the largest gap they would accept.
0.5 raw SPACEX (2.5 shares), max haircut 35%, fallback 2027-03-01 at 50%, approval to order PDA
Confirmed on devnet
Inspect transaction - 2
Fill above the minimum
The keeper swapped a portion only when the pool paid more than the order's minimum.
keeper filled 0.1 raw SPACEX, holder received 0.35396549 SPCXx, 29.2% gap incl. fees, minimum was 0.325
Confirmed on devnet
Inspect transaction - 3
Reject a lower payout
A tighter order failed on chain when the pool would have paid less than its minimum. No fill occurred.
10% limit needs at least 0.45 SPCXx for 0.1 raw; the pool pays about 0.354
Rejected on chain
Inspect transaction - 4
Revoke the approval
The holder closed the order and removed the token approval in one transaction.
order closed and token approval revoked in one transaction
Confirmed on devnet
Inspect transaction
A later fill attempt after revocation was also refused on chain. These are historical proof transactions; the live app uses devnet replicas, while market prices shown elsewhere come from mainnet.
Other PreStocks: sell at a price, or arm for the IPO
Tokens without an issuer event can sell into USDC at a price the holder sets, or wait armed until the issuer names a successor. Both paths are recorded below.
Price orders into USDC
Devnet replicaReplica Anthropic sold into replica USDC on a devnet pool priced like the mainnet Meteora pool.
- Order at 800 USDC per token3tWU...guak
0.3 replica ANTHROPIC, at least 800 USDC per token, expires in 180 days, approval to order PDA
- Filled above the holder's price53Gq...6KFZ
keeper sold 0.3 replica ANTHROPIC for about 277.93 replica USDC (926.42 per token, minimum 800)
- Order at 2,000 USDC, refused on chain5vmj...S6o2
a 2,000 USDC per token order; the pool pays about 930, so the program refuses the swap
Arm for the IPO
Devnet replicaA demo token armed before any issuer event, then a simulated event. No real issuer announced it.
- Armed with no event yet2dxa...tmkY
0.5 demo token armed before any issuer event: largest gap 30%, fallback 30 days before the deadline at 50%
- Simulated issuer event3nwF...fRB2
SIMULATED issuer event for the demo token: 1 DEMOx per token, deadline 2027-03-12T23:59Z
- Keeper activates the order24Bt...F4EX
keeper copied the event terms into the armed order; the holder's 30% limit is unchanged
- Filled at the armed limit5MA8...hNqk
keeper sold 0.5 demo token for about 0.3780 DEMOx, 24.4% under entitlement, limit 30%