Compare the final output
For a USDC purchase, two possible paths are:
For the same amount of USDC, compare the net tokens received. Spot prices alone do not include the cost of moving through a pool.
A route with a better initial price can produce a worse result after fees and price impact. A second hop can improve execution, but it also adds another market’s costs.
Read the quote
1
Confirm the assets and amount
Check the input currency, output token, contract identities, and selected network. Token symbols alone are not unique.
2
Inspect the route
Identify every pool used. Each FX token-pool leg pays its own launch fees; an external currency hop pays that pool’s fees.
3
Review deductions and price impact
Check protocol fees, native LP fees, any creator or holder fees, and an opening surcharge when applicable. Network gas is separate.
4
Set execution bounds
An exact-input trade fixes how much you spend and uses a minimum output. An exact-output trade fixes what you receive and uses a maximum input. The deadline limits how long the order can execute.
Price impact and slippage
Price impact is the change in execution price caused by your own trade. It depends on trade size and the liquidity available along the route. Slippage tolerance is the difference you allow between the quoted result and execution. Other trades or changes in liquidity can alter the market before your transaction lands. Raising slippage tolerance does not improve the quote. It allows execution under less favorable conditions.The first seconds of a market
New launches can have a temporary buy surcharge. Its rate follows chain time, and both sides of an FX launch share the same activation clock. Sells pay ordinary trading fees. Read the opening window before interpreting a launch-time quote.When a route cannot execute
A transaction can fail when the deadline expires, the output is below your limit, an input limit is exceeded, or the route cannot fully fill. Refresh the quote and review the changed conditions. The FX router rejects partial fills. Its transaction bounds are checked against the actual settlement, rather than treating a displayed spot price as an execution guarantee.Currency conversions and FX revenue
A direct EURC/USDC conversion that never enters a launched-token pool does not pay FX’s token-market protocol fee. Its costs belong to the underlying currency venue. See fees for a per-leg breakdown and architecture for how quotes and settlement fit together.Worked quote examples
Calculate minimum received and maximum spent.
Troubleshoot a transaction
Understand approvals, pending receipts, and delayed data.