1
Read the market
We ingest live top-of-book prices and sizes from the venues driving global price discovery and combine them into a cross-venue market composite.
2
Compute the price
The market composite is converted into an executable bid and ask. The quote incorporates current market conditions, risk controls, and may carry a directional view before it is submitted onchain.
3
Commit it onchain
The executable quote is posted onchain. The contract bounds how far each newly posted price can move from the previous posted price. That constraint is enforced and readable onchain.
4
Settle against the quote
Your trade executes against available pool inventory at the posted price and settles atomically in a single transaction. If the requested size exceeds the capacity available to that quote, the trade is rejected rather than walking down a pool-derived pricing curve.
What the pool does and does not do
The pool provides execution capacity. It does not form the reference price.
Price formation and execution capacity are separate. Price formation does not depend on local pool depth. Executable size depends on available inventory and the limits applicable to each quote.
Over 100x Capital Turnover. Each dollar of onchain liquidity supports over a hundred times its value in daily client volume. See how Capital Turnover works
Slippage and price impact
In a curve-based AMM, execution can move through the pool as trade size increases, so the realized execution price can differ from the initial quote. Bolt posts an executable price before the trade. The cost is incorporated into that quote rather than discovered as the trade moves down a local pricing curve. So the price you see at the time of the swap is the price you receive at execution.Where to Trade
Live pairs and live routes.
Offchain Quoting
Quote without submitting a transaction.