Exit to USDC
Swap PUSD for USDC, and how big a swap the pool can take.
The Swap page swaps PUSD for other tokens, and other tokens for PUSD, at the market rate. One side is always PUSD; the other can be USDC, USDT, SOL, the main LSTs (JitoSOL, mSOL, bSOL, JupSOL), or wrapped ETH and BTC. Swaps go through Jupiter, routed through the PUSD–USDC pool on Meteora, so PUSD’s rate sits near $1 but isn’t fixed at it.
Choose a direction and a token
You pay is on top and You receive below. Select ⇅ between them to flip direction. Select the token on the side that isn’t PUSD to pick another; tokens you hold are listed first.
Enter an amount
Type what you’ll pay, or select Max. On SOL, Max keeps a little back for network fees. The app fetches a quote and shows the rate under You receive.
Check the quote
Select the route line under the fields for the route, price impact, max slippage, minimum received and fees.
Confirm and sign
The button reads Get and the amount you’ll receive. The tokens arrive in the same transaction.
If the swap can’t go through
| The button says | What it means |
|---|---|
| Not enough … | You’re paying more than this wallet holds. |
| Not enough liquidity | The pool can’t fill that amount. The hint says roughly how much it can; try a smaller one. |
| No route available | Jupiter has no route for this pair right now. |
| Couldn’t get a quote | The quote didn’t load. Try again in a moment. |
How big a swap the pool can take
The PUSD–USDC pool is small during the alpha, so a large swap moves the price against you. Before you confirm, check the price impact in the quote: it turns amber from 0.3% and red at 1%. Above 1% is a sign the pool can’t absorb that amount: swap less, or split it into smaller swaps.
The same goes for Top up the missing PUSD when you close a loan: it buys PUSD through the same pool.
The pool
The Reserve panel shows how much USDC and PUSD sit in the Meteora pool, and the last peg reading. The pool’s accounts are on Solana for anyone to inspect. Market price at the top of the page is PUSD’s current price; the chart beside the reserve, and Stats, show the peg over time.
How PUSD holds near $1
- Overcollateralised. Every loan is worth more than its debt, and liquidation keeps it that way.
- Below $1, borrowers buy. Debt is counted in PUSD, so cheap PUSD makes repaying cheaper.
- Above $1, borrowers mint and sell. Selling PUSD for more than a dollar is profitable, which adds supply.