diff --git a/src/audio/limiter.rs b/src/audio/limiter.rs
new file mode 100644
index 0000000..3039f57
--- /dev/null
+++ b/src/audio/limiter.rs
@@ -0,0 +1,166 @@
+//! Mix-bus soft peak limiter.
+//!
+//! The mixer sums every peer's frame into one output bus. Two or three people
+//! talking loudly at once can sum well past full scale; the old path hard-clamped
+//! each summed sample to the `i16` range, which is audible as harsh clipping
+//! exactly when the room is liveliest. This limiter sits on the mix bus instead:
+//! below the ceiling it is transparent (unity gain, sample-exact), and above it
+//! it smoothly pulls the whole bus down so peaks ride the ceiling instead of
+//! shattering against it.
+//!
+//! Design: a feed-forward peak limiter with **instant attack** and a smoothed
+//! **release**. For each sample we compute the gain that would just hold it at
+//! the ceiling; if that's less than the current gain we drop to it immediately
+//! (so no sample is ever output above the ceiling — no overshoot, no reliance on
+//! the final clamp to hide clipping), and when the loud passage passes we ease
+//! the gain back toward unity over the release time. State (the current gain)
+//! carries across frames so a sustained-loud stretch doesn't re-attack every
+//! 20ms frame. There is no look-ahead (it would add latency to a real-time voice
+//! path), so a transient's first sample is caught by the instant attack rather
+//! than anticipated — fine for a voice mix, where the goal is graceful loud-room
+//! behaviour rather than mastering-grade brick-walling.
+
+/// Output ceiling as a fraction of full scale. A hair below 1.0 leaves a little
+/// headroom against the per-sample rounding on the way back to `i16` (and the
+/// odd inter-sample peak), so the final clamp is effectively never the thing
+/// doing the limiting.
+const CEILING_FRAC: f32 = 0.97;
+
+/// Release time constant: how quickly the gain eases back toward unity after a
+/// loud passage. ~120ms is slow enough to avoid audible "pumping" on speech yet
+/// fast enough that the mix doesn't stay ducked long after the peak.
+const RELEASE_MS: f32 = 120.0;
+
+/// A stateful mix-bus peak limiter. One instance per playout mixer; call
+/// [`SoftLimiter::process`] once per mixed frame.
+pub struct SoftLimiter {
+    /// Linear amplitude ceiling in `i16` units (e.g. ~31784 for 0.97 full scale).
+    ceiling: f32,
+    /// Current gain, `0.0..=1.0`. 1.0 = transparent; drops under load, eases back.
+    gain: f32,
+    /// Per-sample release smoothing coefficient (one-pole), in `0.0..1.0`.
+    /// Larger = slower release.
+    release_coef: f32,
+}
+
+impl SoftLimiter {
+    /// Build a limiter for the given sample rate (e.g. 48000).
+    pub fn new(sample_rate: u32) -> Self {
+        let sr = sample_rate.max(1) as f32;
+        // One-pole coefficient for the release time constant: exp(-1 / (t * sr)).
+        let release_coef = (-1.0 / (RELEASE_MS * 0.001 * sr)).exp();
+        Self {
+            ceiling: CEILING_FRAC * i16::MAX as f32,
+            gain: 1.0,
+            release_coef,
+        }
+    }
+
+    /// The current ceiling in `i16` units. Exposed for tests/inspection.
+    pub fn ceiling(&self) -> f32 {
+        self.ceiling
+    }
+
+    /// Limit one mixed frame.
+    ///
+    /// `mixed` is the **lossless** per-peer sum (i32, never pre-clamped, so the
+    /// true peak is visible to the limiter). `out_gain` is the master output
+    /// gain applied here in f32 so it's part of what the limiter sees (a boost
+    /// past the ceiling is limited too). Returns peak-limited `i16` samples that
+    /// never exceed full scale.
+    pub fn process(&mut self, mixed: &[i32], out_gain: f32) -> Vec<i16> {
+        let mut out = Vec::with_capacity(mixed.len());
+        for &sample in mixed {
+            let x = sample as f32 * out_gain;
+            let mag = x.abs();
+
+            // Gain that would hold this sample exactly at the ceiling. Unity when
+            // the sample already fits — that's the transparent, below-threshold case.
+            let target = if mag > self.ceiling {
+                self.ceiling / mag
+            } else {
+                1.0
+            };
+
+            if target < self.gain {
+                // Instant attack: drop to the needed gain now so this very sample
+                // can't exceed the ceiling.
+                self.gain = target;
+            } else {
+                // Release: ease gain back up toward the (less restrictive) target.
+                self.gain = target + (self.gain - target) * self.release_coef;
+            }
+
+            let y = x * self.gain;
+            out.push(y.round().clamp(i16::MIN as f32, i16::MAX as f32) as i16);
+        }
+        out
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+
+    const SR: u32 = 48_000;
+
+    /// Below the ceiling the limiter is transparent: unity gain, sample-exact.
+    #[test]
+    fn transparent_below_ceiling() {
+        let mut lim = SoftLimiter::new(SR);
+        let quiet: Vec<i32> = vec![100, -200, 5000, -5000, 0, 12345];
+        let out = lim.process(&quiet, 1.0);
+        let expected: Vec<i16> = quiet.iter().map(|&s| s as i16).collect();
+        assert_eq!(out, expected);
+    }
+
+    /// A loud sum that would clip is brought to (about) the ceiling, never wrapping.
+    #[test]
+    fn loud_sum_rides_the_ceiling_not_wraps() {
+        let mut lim = SoftLimiter::new(SR);
+        // Three near-full-scale peers summed ~= 90000, far past i16::MAX.
+        let loud: Vec<i32> = vec![90_000; 64];
+        let out = lim.process(&loud, 1.0);
+        let ceiling = lim.ceiling().ceil() as i16;
+        for &s in &out {
+            assert!(s > 0, "positive loud input stays positive (no wrap), got {s}");
+            assert!(s <= ceiling, "sample {s} exceeded ceiling {ceiling}");
+        }
+    }
+
+    /// Output never wraps the i16 range for either polarity, even at extreme input.
+    #[test]
+    fn never_wraps_either_polarity() {
+        let mut lim = SoftLimiter::new(SR);
+        let extreme: Vec<i32> = vec![300_000, -300_000, 300_000, -300_000];
+        let out = lim.process(&extreme, 1.0);
+        assert!(out[0] > 0 && out[2] > 0, "positive stays positive");
+        assert!(out[1] < 0 && out[3] < 0, "negative stays negative");
+    }
+
+    /// After a loud passage the gain releases back toward unity, so a later quiet
+    /// passage is (close to) transparent again rather than stuck ducked.
+    #[test]
+    fn gain_releases_after_loud_passage() {
+        let mut lim = SoftLimiter::new(SR);
+        // Hammer it loud to pull the gain down.
+        lim.process(&vec![200_000; 4800], 1.0);
+        // Then ~1s of a mid-level signal well under the ceiling; by the end the
+        // gain should have eased back so the sample is ~transparent.
+        let mid = 10_000i32;
+        let out = lim.process(&vec![mid; 48_000], 1.0);
+        let last = *out.last().unwrap();
+        assert!(
+            (last - mid as i16).abs() <= 100,
+            "gain should release toward unity; last sample {last} vs {mid}"
+        );
+    }
+
+    /// Silence in, silence out.
+    #[test]
+    fn silence_is_silence() {
+        let mut lim = SoftLimiter::new(SR);
+        let out = lim.process(&vec![0i32; 32], 1.0);
+        assert!(out.iter().all(|&s| s == 0));
+    }
+}
diff --git a/src/audio/mod.rs b/src/audio/mod.rs
index 935a990..5074cf2 100644
--- a/src/audio/mod.rs
+++ b/src/audio/mod.rs
@@ -53,5 +53,6 @@ pub trait AudioBackend: Send + Sync {
 
 pub mod echo_cancel;
 pub mod gate;
+pub mod limiter;
 pub mod pipewire_impl;
 pub mod pw_cli;
diff --git a/src/core/mod.rs b/src/core/mod.rs
index 1bfea36..014ce3b 100644
--- a/src/core/mod.rs
+++ b/src/core/mod.rs
@@ -204,21 +204,17 @@ fn stop_mic_monitor(backend: &PipeWireBackend, monitor: Option<MicMonitor>) {
     }
 }
 
-/// Sum per-peer frames sample-by-sample into one `frame_len`-sample output,
-/// saturating each summed sample to the i16 range so a loud mix clips rather than
-/// wrapping. Peers shorter than `frame_len` contribute 0 past their end; an empty
-/// peer set yields a silent frame.
-fn mix_frames(peer_frames: &[Vec<i16>], frame_len: usize) -> Vec<i16> {
-    let mut mixed = vec![0i16; frame_len];
-    if peer_frames.is_empty() {
-        return mixed;
-    }
-    for (i, out) in mixed.iter_mut().enumerate() {
-        let sum: i32 = peer_frames
-            .iter()
-            .map(|f| f.get(i).copied().unwrap_or(0) as i32)
-            .sum();
-        *out = sum.clamp(i16::MIN as i32, i16::MAX as i32) as i16;
+/// Sum per-peer frames sample-by-sample into one `frame_len`-sample bus, **without**
+/// clamping — the lossless `i32` sum preserves the true peak so the mix-bus soft
+/// limiter (see [`crate::audio::limiter`]) can ride it down to the ceiling instead
+/// of the old hard clip shattering loud moments. Peers shorter than `frame_len`
+/// contribute 0 past their end; an empty peer set yields a silent bus.
+fn mix_frames(peer_frames: &[Vec<i16>], frame_len: usize) -> Vec<i32> {
+    let mut mixed = vec![0i32; frame_len];
+    for frame in peer_frames {
+        for (out, &sample) in mixed.iter_mut().zip(frame.iter()) {
+            *out += sample as i32;
+        }
     }
     mixed
 }
@@ -667,6 +663,10 @@ async fn run_core_loop(
                 let ui_tx_mixer = ui_tx.clone();
                 let ring_fill_mixer = ring_fill.clone();
                 let mixer_task = tokio::spawn(async move {
+                    // Mix-bus soft limiter: rides loud multi-peer moments down to
+                    // the ceiling instead of hard-clipping. State carries across
+                    // frames (see audio::limiter).
+                    let mut limiter = crate::audio::limiter::SoftLimiter::new(48_000);
                     // When the ring is at/above target we have nothing to do; nap
                     // briefly and re-check. Short enough (relative to the ~60ms
                     // target and ~21ms device quantum) that we always refill well
@@ -721,9 +721,12 @@ async fn run_core_loop(
                             }
                         }
 
-                        let mut mixed = mix_frames(&peer_frames, FRAME_SAMPLES);
-                        // Master output gain on the mixed signal (post per-peer volume).
-                        apply_volume(&mut mixed, f32::from_bits(output_gain_mixer.load(Ordering::Relaxed)));
+                        // Lossless i32 sum, then the limiter applies the master
+                        // output gain (in f32, so a boost past the ceiling is
+                        // limited too) and rides peaks down to the ceiling.
+                        let mixed_sum = mix_frames(&peer_frames, FRAME_SAMPLES);
+                        let out_gain = f32::from_bits(output_gain_mixer.load(Ordering::Relaxed));
+                        let mixed = limiter.process(&mixed_sum, out_gain);
 
                         let frame_to_send = if is_deafened_clone.load(Ordering::Relaxed) {
                             vec![0i16; FRAME_SAMPLES]
@@ -1006,14 +1009,14 @@ mod tests {
     #[test]
     fn mix_of_no_peers_is_silence() {
         let mixed = mix_frames(&[], 4);
-        assert_eq!(mixed, vec![0i16; 4]);
+        assert_eq!(mixed, vec![0i32; 4]);
     }
 
     #[test]
     fn single_peer_passes_through_unchanged() {
         let frame = vec![100, -200, 300, -400];
         let mixed = mix_frames(std::slice::from_ref(&frame), 4);
-        assert_eq!(mixed, frame);
+        assert_eq!(mixed, vec![100i32, -200, 300, -400]);
     }
 
     #[test]
@@ -1021,25 +1024,25 @@ mod tests {
         let a = vec![100, -200, 300, -400];
         let b = vec![50, 200, -100, 400];
         let mixed = mix_frames(&[a, b], 4);
-        assert_eq!(mixed, vec![150, 0, 200, 0]);
+        assert_eq!(mixed, vec![150i32, 0, 200, 0]);
     }
 
     #[test]
-    fn loud_positive_mix_saturates_not_wraps() {
-        // Two near-full-scale positive frames sum to ~2x i16::MAX. A plain i16
-        // cast would wrap to a large negative value; the mixer must clamp to MAX.
+    fn loud_positive_mix_is_lossless_not_clamped() {
+        // The bus is a lossless i32 sum now — the true peak (~2x i16::MAX) is
+        // preserved so the limiter can ride it down. (The old mixer clamped here.)
         let a = vec![30_000; 4];
         let b = vec![30_000; 4];
         let mixed = mix_frames(&[a, b], 4);
-        assert_eq!(mixed, vec![i16::MAX; 4]);
+        assert_eq!(mixed, vec![60_000i32; 4]);
     }
 
     #[test]
-    fn loud_negative_mix_saturates_to_min() {
+    fn loud_negative_mix_is_lossless_not_clamped() {
         let a = vec![i16::MIN; 4];
         let b = vec![i16::MIN; 4];
         let mixed = mix_frames(&[a, b], 4);
-        assert_eq!(mixed, vec![i16::MIN; 4]);
+        assert_eq!(mixed, vec![2 * i16::MIN as i32; 4]);
     }
 
     #[test]
@@ -1047,7 +1050,7 @@ mod tests {
         let full = vec![100, 100, 100, 100];
         let short = vec![10, 20]; // only first two samples
         let mixed = mix_frames(&[full, short], 4);
-        assert_eq!(mixed, vec![110, 120, 100, 100]);
+        assert_eq!(mixed, vec![110i32, 120, 100, 100]);
     }
 
     #[test]
@@ -1113,14 +1116,14 @@ mod tests {
         let b = vec![3, 4];
         let c = vec![100, -50];
         let mixed = mix_frames(&[a, b, c], 2);
-        assert_eq!(mixed, vec![113, -26]);
+        assert_eq!(mixed, vec![113i32, -26]);
     }
 
     #[test]
     fn mix_zero_pads_output_longer_than_peer_frames() {
         let a = vec![100, 200];
         let mixed = mix_frames(&[a], 4);
-        assert_eq!(mixed, vec![100, 200, 0, 0]);
+        assert_eq!(mixed, vec![100i32, 200, 0, 0]);
     }
 
     #[test]