Lull

Docs

How Lull seals an order while the market is closed and crosses it once at the open, and how to place one yourself.

Introduction

What Lull does, and how an order goes from a sealed commitment to a fill at the open.

  • Then Quick start

    Place your first sealed order, from connecting a wallet to withdrawing the fill.

Concepts

  • Lulls

    What a lull is, how the calendar comes from Pyth's market-hours schedule, and the phases each lull goes through.

  • Sealed orders

    How commit and reveal keep the order queue hidden during the lull, what a commitment binds, and what becomes public when.

  • Order types

    Market-on-open and limit-on-open orders, how buys and sells are sized, minimums, and partial fills.

  • Balances

    Your per-market balance, the difference between free and locked, and when amounts move between them.

  • Bonds and forfeits

    The SOL bond every sealed ticket posts, when it comes back, and when it is forfeited.

  • Popen

    How the open price is taken from Pyth, what happens when it is uncertain, and when a lull is cancelled instead.

How-to

  • Connect a wallet

    Connect a Solana wallet to Lull, and what the wallet is asked to sign.

  • Deposit and withdraw

    Move USDC or AAPLx between your wallet and your balance in a market.

  • Place a sealed order

    Seal a market-on-open or limit-on-open order on the order ticket.

  • Back up sealed orders

    Export and import the salts that let you reveal your orders, and what happens if you lose them.

  • Reveal

    Reveal your sealed orders in the window before the open, and what the program checks.

  • After the open

    Follow a lull through pricing and the cross, read your fills, claim, and withdraw.

  • Provide liquidity

    Post a sealed LP quote that absorbs the imbalance at Popen plus or minus your spread.

Mechanism

  • The cross

    How revealed orders and LP quotes are matched at Popen, step by step, with a worked example.

  • Units

    The units Lull uses for amounts and prices, and how the xStock Scaled UI multiplier enters exactly once.

Risks

  • Risks

    What can go wrong with a Lull order, and what each party can and cannot do.

Reference

  • FAQ

    Short answers to common questions about sealed orders, prices, timing and costs.

  • Glossary

    Definitions of the terms used across the Lull docs.

  • Errors

    What each program error means when a transaction fails, and what to do about it.

Connect a wallet

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Lull asks the wallet to sign each transaction. Hardware wallets that connect over USB are not offered.