For everyone
Understand the 12.5% settle fee
Buyers pay 100% SOL. Sellers receive 87.5%. The book keeps 12.5%.
Who pays what
The buyer sends the full quoted SOL. The seller’s net is quoted SOL minus the fee. APU transferred to the buyer is 100% of the order size.
Fee basis points come from the quote (1250 bps by default). The UI prints the API amounts.
Why it is not a surprise
Every live offer and every lock screen shows the fee before you commit.
Treasury cash-out on Econext is a different path with a different clock. Do not mix those settlement stories.