Textile FX

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Protocol overview ​

Textile FX is a request-for-quote rail for stablecoin FX. You name a pair and an exact size. Textile asks the market makers online on that corridor to price it right now. You get one firm quote you can execute, or a clear "nobody quoted". Nothing moves until you sign and broadcast the swap yourself.

This section is for anyone evaluating the protocol before moving real volume through it. How to swap is the product walkthrough. The v2 API is the same request, callable from your own stack.

What a firm quote is ​

A real signed order with a hard expiry, about 90 seconds. Execute inside that window or ask for a new one. Nothing auto-refreshes.

The quote is bound to the wallet you named as taker. Nobody else can fill it, and you cannot hand it to another address.

It covers your whole amount. There is no partial fill. If the makers together cannot do the full size, you get no_quote instead of a smaller trade. When no single maker can cover you, Textile bundles several into one swap and returns a single executeBatch transaction. Always broadcast the transaction Textile returns. Executing one maker's order out of a bundle would under-fill.

You can name either side of the trade.

Name a buyAmount and you receive exactly that. The makers price the sell side around it.

Name a sellAmount and it is a spend cap. Makers spend all of it and compete on how much they hand back. The debit is never more than the cap.

A preview is free. It reads published maker levels while the user types, solicits nothing, and promises nothing. The firm request is what reserves inventory and returns signed calldata.

Key principles ​

Non-custodial. The protocol never holds your funds. Makers fund quotes from their own wallets. Your tokens move only when your own signed transaction executes.

Atomic. The reactor settles the whole quote in one transaction or reverts it. There is no half-settled state and nothing to unwind.

No new cryptography. Settlement runs on audited Uniswap contracts, vendored at pinned commits. See Settlement.

Off-chain routing, on-chain truth. Soliciting makers happens off-chain because it has to be fast. That path cannot move money. It only relays signed quotes the reactor verifies before executing.

Who runs the liquidity ​

Makers are independent operators. They fund quotes from their own wallets, set their own spreads, and decide what they price. Textile routes the request and takes no view on their price.

By default every maker on the corridor is asked. Preferred or restricted wallets narrow that list. See Preferred and restricted liquidity.

Stitch, the bot that answers solicitations, is open source at github.com/textile-protocol/textile-stitch. Running one is covered in the filler guide.

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