What Handoff is
Handoff is a place to sell a bag of any Solana coin straight to a buyer, or buy one straight from a holder. One side posts an offer. When the other side takes it, the coins and the SOL swap in one transaction: both move, or nothing does.
No pool is involved, so the coin's price on the charts doesn't move.
Why not the pool
A pool prices each trade on a curve, so a sale that's large next to the pool fills worse and worse the bigger it gets, and leaves the price lower for everyone. We model a pool as constant product with half its liquidity on each side. Selling D dollars into a side holding R gets an average of R / (R + D) of the market price, and leaves the price at the square of that.
| Sale into a $2M pool | Seller gets | Chart moves | On Handoff |
|---|
Those are two different costs. "Seller gets" is what the seller loses to slippage. "Chart moves" is what every other holder sees. Real liquidity is spread across several pools and curves, so treat both as estimates. The offers page shows the same comparison for each real bag.
Offers, buy offers, private offers
Offers stay open for an hour, a day, three days or seven days, and you can cancel any time before then. A split offer always takes everything that's left, or leaves at least one smallest split behind, so nobody gets stuck with a crumb.
Pricing an offer
You set a price per coin. The page shows the live market price next to it and how far yours sits from it, with quick buttons for market, −2%, −5% and −10%. If your price is more than 30% off the market, the page warns you before you post.
A good deal beats the pool for both sides. A seller pricing a little under market still gets more than dumping would pay, and a buyer still pays less than buying up the pool would cost. The "Against the pool" panel shows both numbers for your exact size.
What you approve
Posting an offer is one transaction. Your wallet shows what it does before you sign. For selling 40,000,000 PENGU, it looks like this:
The approval is the key part. It lets one Handoff program address move up to that many of your coins, and the program only does that inside a trade that pays you your price in the same transaction. The approval always equals the total of your open offers on that coin. Cancel and it shrinks or disappears. You can also revoke it from your wallet any time.
Where funds sit
- Sellers' coins stay in the seller's own wallet until the moment of the trade.
- Buyers' SOL for a buy offer is wrapped into wSOL and stays in the buyer's own wallet until a holder sells into it.
- The only thing Handoff stores is the offer record: the terms, what's left, and when it ends. It holds no coins and no SOL.
Fees and deposits
| Taking an offer (buying a bag, or selling into a buy offer) | 0.5% |
| Posting an offer | 0 |
| Offer deposit, returned when it fills, is cancelled or expires | ~0.0018 SOL |
| Approval record, once per coin you sell | ~0.0011 SOL |
| Solana network fees | <0.0001 SOL |
The 0.5% is taken from the SOL side of each trade and goes to Handoff's fee wallet. The address is built into the program and can't be changed without a new program.
Who you're trusting
- The program. Every rule is enforced by code on Solana: the price, the size, the expiry, who can take a private offer, and that both sides move together. There's no admin key that can touch offers or redirect fees.
- Whoever holds the upgrade key. The program can still be upgraded, or closed, by its upgrade key. That key is held by the Handoff team and isn't locked yet. We'll say here if it moves to a multisig or gets locked for good.
- Solana and your wallet. Same as any app on Solana.
Program address:
Risks
Live on mainnet
Handoff runs on Solana mainnet with real coins and real SOL. Program address: E4kATn1WoPj1BNm9GTwbhs4R2hSNJLZqEGX4GN1B2Wqv. Every trade is public and can be checked on any Solana explorer.
Make sure Phantom is on mainnet (Testnet Mode off) before you connect.
FAQ
Does Handoff hold my coins or SOL?
No. Both stay in their owners' wallets until the moment of the trade.
Can Handoff take my coins?
No. The program only moves approved coins inside a trade that pays you your price in the same transaction.
What if the price changes while I'm buying?
Your transaction carries the exact amount you agreed to pay. If the offer changed, the trade fails and nothing moves.
Which coins work?
Any coin on Solana's standard token programs, including pump.fun coins. Coins with transfer fees, transfer hooks or a permanent delegate are refused.
Why not just sell on the pool?
For small amounts, do. For a bag that's big next to the pool, the sale pushes the price down hard, so you get less and everyone holding watches the chart drop.