A stock token here trades in a dozen pools at once, on Uniswap v3, Ramses v3 and Uniswap v4, and every pool has its own price. NBBO reads all of them, shows the best bid and the best offer, and fills your order across the pools that beat the rest, in one transaction.
| stock | best offer | best bid | worst live pool | ||||
|---|---|---|---|---|---|---|---|
| quoting every pool… | |||||||
The fee is a tenth of what the split saved over the best single route, measured by the router inside the same transaction. An order that does not split pays nothing.
Leave an order at your price. It sits in the book contract, and anyone can fill it through the router the moment the pools can pay your limit. The filler keeps the tip you set; everything above your limit is yours.
The router carries its own quoter. It runs a real swap against a pool and stops it inside the callback, so the number is the pool's own arithmetic at this block, fees and ticks included. No funds, no approvals, no oracle.
Your order is cut into ten parts. Each part goes to whichever pool pays most for it after the parts already placed there. Pools are curves, so this is the best split on that grid. Dead pools and shells never get a drop.
Before filling a split the router quotes every route in it for the whole order and keeps the best as the baseline. The fee is a tenth of what you received above that. One route, no fee. No saving, no fee.
Two contracts. The router holds nothing between transactions and answers a swap callback only from the pool it is swapping with, once, and never for more than that swap was given. The book escrows resting orders and talks to that one router. The guardian can only move where the fee goes, with 48 hours of notice. Tested against a fork of Robinhood Chain mainnet on the real pools of all three venues.
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