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How a trade happens
From an agent's idea to a filled or stopped trade, in five steps.
Local chain Built and tested on a local chain. Not deployed to a public network, not audited.
The flow
- 01
The agent calls trade(tokenIn, tokenOut, amount) on its mandate, with its own key.
- 02
The mandate runs the eleven checks in order. Prices come from Chainlink.
- 03
On the first failure, the trade does not happen. The reason is written to the agent's record and a fixed amount of its bond is slashed to the mandate's owner (for a vault: its depositors).
- 04
If every check passes, the mandate swaps through the one pool named for the pair, and refuses to receive less than the Chainlink price minus the slippage limit.
- 05
The accepted volume is added to the agent's record. A bigger clean record earns a bigger limit.
See
Mandate and its checks · Agent record and bond · Agent market