Jingswap V2

Jingswap V2 Skill

Limit-price auction for swapping sBTC against STX on Stacks. Two markets:

Key Differences from V1

• Limit prices required on all deposits (in sats/STX)
• 2 phases only: deposit (10 blocks ~20s) then settle (no buffer)
• Bundled settlement: close-and-settle in a single atomic tx (reverts entirely if fails)
• No separate close-deposits — avoids stuck cycles
• Limit updates without re-depositing via set-stx-limit / set-sbtc-limit

Usage

bun run jingswap-v2/jingswap-v2.ts <subcommand> [--market <pair>] [options]

Default market is sbtc-stx-market. All limit prices are in sats/STX.

Subcommands

cycle-state

Get current V2 cycle state (phase, blocks, totals).

bun run jingswap-v2/jingswap-v2.ts cycle-state --market sbtc-stx-20bp-stx-premium

user-deposit

Get deposit amounts and limit prices for a user.

bun run jingswap-v2/jingswap-v2.ts user-deposit --cycle 0 --address SP...

clearing-preview

Simulate settlement at current oracle — shows what will clear vs roll.

bun run jingswap-v2/jingswap-v2.ts clearing-preview

prices

Get oracle prices with default limit suggestions.

bun run jingswap-v2/jingswap-v2.ts prices

deposit-stx

Deposit STX with limit price (sats/STX floor). Omit --limit for 20% in-the-money default.

bun run jingswap-v2/jingswap-v2.ts deposit-stx --amount 10 --limit 240

deposit-sbtc

Deposit sBTC (satoshis) with limit price (sats/STX ceiling). Omit --limit for 20% in-the-money default.

bun run jingswap-v2/jingswap-v2.ts deposit-sbtc --amount 10000 --limit 360

set-stx-limit

Update STX-side limit price without re-depositing. Deposit phase only.

bun run jingswap-v2/jingswap-v2.ts set-stx-limit --limit 250

set-sbtc-limit

Update sBTC-side limit price without re-depositing. Deposit phase only.

bun run jingswap-v2/jingswap-v2.ts set-sbtc-limit --limit 350

cancel-stx

Cancel STX deposit for full refund. Deposit phase only.

bun run jingswap-v2/jingswap-v2.ts cancel-stx

cancel-sbtc

Cancel sBTC deposit for full refund. Deposit phase only.

bun run jingswap-v2/jingswap-v2.ts cancel-sbtc

close-and-settle

Close deposits and settle atomically with fresh Pyth prices. Single tx, reverts entirely if settlement fails.

bun run jingswap-v2/jingswap-v2.ts close-and-settle --market sbtc-stx-20bp-stx-premium

cancel-cycle

Cancel cycle if settlement failed. Callable 42 blocks (~84s) after close. Rolls all deposits forward.

bun run jingswap-v2/jingswap-v2.ts cancel-cycle

Notes

• Limit prices in sats/STX: STX depositors set a floor (min sats/STX they'll accept), sBTC depositors set a ceiling (max sats/STX they'll pay)
• Default limits are 20% in-the-money vs oracle (virtually guaranteed fill)
• Stacks blocks average ~2 seconds (Nakamoto)
• Deposit phase: 10 blocks (~20s) before close-and-settle is callable
• Cancel threshold: 42 blocks (~84s) after close
• If limits wipe a side below minimum, bundled tx reverts — no stuck cycle
• Post conditions: deposits use Deny mode; cancel/settle/cancel-cycle use Allow mode