VelvetMesh by VelvetSwap

No shared pools. No leaked intent. Verified private fills.

VelvetMesh is the product evolution of VelvetSwap.

VelvetSwap started as the confidential AMM and settlement foundation on Solana. VelvetMesh adds a private intent and RFQ layer on top of that foundation so the user flow becomes:

1. Create a private trade intent.
2. Collect private maker/filler quotes.
3. Request a private match boundary through Arcium.
4. Accept the selected quote once it is verified.
5. Settle privately through MagicBlock and shield the payout through Umbra.

The repo keeps the original confidential AMM path intact. VelvetMesh is not a rewrite of VelvetSwap. It is the private product layer beside it.

Product Thesis

VelvetMesh is a private P2P intent/RFQ network for Solana. Users express hidden trade intent and the system routes the accepted fill through the most suitable private settlement path.

• Arcium is the private match boundary.
• MagicBlock is the private payment execution rail.
• Umbra is the shielded payout/balance rail.
• Jupiter remains the public quote reference and fallback comparison rail.
• VelvetSwap remains the confidential AMM fallback and settlement base.

This is the product boundary the repo now communicates everywhere:

• private intent creation
• private quote collection
• verifier-gated match recording
• settlement handoff preparation
• confirmed settlement readiness

What Exists In This Repo

There are two main on-chain layers:

• programs/light_swap_psp: the existing VelvetSwap confidential AMM scaffold.
• programs/velvet_mesh: the VelvetMesh private intent/RFQ state machine.

The current implementation favors honest product boundaries over fake completeness:

• Arcium-backed intents cannot be accepted until the verified match path is recorded.
• Sponsor settlement is gated by explicit settlement handoff state.
• Missing payloads or verifier mismatches fail closed.
• The confidential AMM path is still treated as the fallback foundation, not a replacement for the private intent layer.

Current Flow

create_intent
  -> submit_quote
  -> request_private_match
  -> record_private_match
  -> accept_quote
  -> prepare_settlement_handoff
  -> mark_settlement_ready

The important trust boundary is record_private_match. It is the point where an Arcium computation result becomes an accepted private match. Until that happens, settlement should remain blocked.

Program Surface

light_swap_psp

This is the existing confidential AMM and settlement foundation. It uses Light Protocol compressed state, Inco encrypted values, Inco Token confidential transfers, and the existing Solana settlement path.

velvet_mesh

This is the new private intent/RFQ state machine. It stores:

• encrypted intent parameters
• maker quote commitments
• match verifier authority
• Arcium computation request/result fields
• settlement provider and handoff state
• accepted match and settlement readiness metadata

Sponsor Rails

The repo also includes sponsor adapter boundaries for:

• Arcium matcher integration
• MagicBlock private payment handoff
• Umbra shielded payout handoff

Those adapters are part of the real product path. They are not decorative badges.

On-Chain Program IDs

VelvetSwap / AMM Foundation

Field	Value
Program ID	4b8jCufu7b4WKXdxFRQHWSks4QdskW62qF7tApSNXuZD
Network	Solana Devnet
Inco Token Program	CYVSeUyVzHGVcrxsJt3E8tbaPCQT8ASdRR45g5WxUEW7
Inco Lightning Program	5sjEbPiqgZrYwR31ahR6Uk9wf5awoX61YGg7jExQSwaj
Pool Authority PDA	DSM8WDdZ5s3xkKbjtmzxpd59J42cuTZ1AJtFJTzLMkFS

VelvetMesh

Field	Value
Program	programs/velvet_mesh
Match flow	create_intent -> request_private_match -> record_private_match -> accept_quote
Settlement flow	prepare_settlement_handoff -> mark_settlement_ready

Repo Structure

programs/
  light_swap_psp/     # existing VelvetSwap confidential AMM
  velvet_mesh/        # private intent/RFQ program

arcium/
  velvet_mesh_matcher/ # isolated Arcium matcher workspace

src/
  sponsors/           # MagicBlock / Umbra sponsor adapters
  tests/              # devnet verification scripts

README.md
ARCHITECTURE.md

Development Notes

• The repo is intentionally strict about not claiming production-complete encrypted AMM math until the fallback path is actually implemented and verified.
• Ika is parked in the current product story. The repo should not overstate it as an active sponsor path.
• The product direction is private intents first, then private settlement, then fallback AMM behavior when needed.

Local Validation

Typical validation commands:

cargo test
cargo check
npm test

If you are working on the Arcium workspace, validate that workspace separately from the main Anchor program.

Related Frontend

The matching frontend lives in the separate VelvetMesh frontend repo:

• https://github.com/N-45div/Velvet_frontend.git

That frontend shows the private intent lifecycle, market reference, and settlement receipts for the connected wallet.