Just-in-time estimates
An indicative estimate helps prepare a trade. It does not lock a price or authorize execution.
The target quote flow is an indicative, just-in-time estimate:
- Request exact-sell or exact-buy estimates with
POST /v1/quotes. - Inspect amounts, fee denominations and snapshot freshness. Quote creation does not reserve funds or inventory.
- Confirm executable terms through the execution contract once its confirmation and slippage rules are specified. The estimate alone is not authorization to trade.
- Reconcile the accepted operation and resulting execution record separately from settlement.
A reservation call is not a specified mandatory step for JIT estimates; its role in execution is unresolved.
A quote request must choose exactly one amount basis: exact sell or exact buy. The response must label whether it is indicative or tradable, bind any recipient, identify fee denomination and amount, identify collateral denomination when applicable, and carry typed signing data only when the acceptance design requires it. Funding remains separate from trade acceptance, and accepted or successfully submitted work is not proof of final settlement.
Quote validity and settlement#
The V1 quote flow provides an indicative, just-in-time price estimate. Request a fresh estimate when preparing a trade. The estimate does not commit a price, reserve inventory or guarantee execution. No fixed quote lifetime is specified for this offering. This is the target quote behavior.
Observation time and freshness describe an indicative snapshot; they do not create a right to a fill. The final quote response schema, execution-confirmation and slippage-protection details remain unresolved in this specification.
| Timing concept | Target contract / client behavior |
|---|---|
| Estimate freshness | Request a fresh estimate when preparing a trade. Freshness does not guarantee an executable price. |
| Executable-term expiry | The execution-confirmation contract must establish any applicable expiry and its representation; no field name or fixed lifetime is specified here. |
| Funding deadline | Funding timing is separate from estimate freshness and executable terms. Its contract remains unresolved. |
| Settlement deadline | Settlement has separate status observations; do not infer a deadline from quote creation or freshness. |
| External delivery estimate | A provider's delivery estimate or cutoff is separate from trade settlement and must be established by the applicable delivery contract. |
Funding arrival or a longer settlement window does not extend quote validity. If terms expire, request a fresh quote and new acceptance; do not silently execute at a changed price. An accepted or successfully submitted request is not proof of final settlement. Use returned terms and operation status for reconciliation.
If a tradable quote supplies typed signing data, acceptance must bind the exact quote, account, signer, message and idempotency identity. Indicative previews do not reserve a price. For order-book partial fills, amendment and cancellation, use the separate orders and fills contract and its stated limitations.