What a quote contains
Every quote from a liquidity provider includes: Price. The exact price the maker is willing to trade at. This becomes your fill price if the quote is selected and settled before expiry. Quantity. The amount available at this price, usually matching your request. If only a partial fill is available, TrueCurrent chooses the best price/quantity offer and may fill across one or more makers. Expiry. How long the quote remains valid. Makers must submit quotes with at least 1500 ms of validity; many use longer expiries to increase the chance their quote can be selected and settled. If a quote expires before settlement, it is skipped; short expiries help makers avoid stale prices and keep spreads tighter. Maker address. The Injective wallet address of the maker offering the quote. This is visible onchain after settlement. Signature. A cryptographic signature from the maker’s private key covering all the above fields. The smart contract verifies this signature as part of settlement, ensuring the maker cannot deny or change their quoted terms.How the best quote is selected
TrueCurrent currently evaluates quotes received during a 500 ms collection window and selects the best executable quote automatically. This window can vary by frontend and protocol configuration; API takers can configure their own collection timeout.- For long positions: the quote with the lowest price (you’re buying, so lower is better)
- For short positions: the quote with the highest price (you’re selling, so higher is better)
Partial fills and fill-or-kill
TrueCurrent allows partial fills and multi-maker fills by design. If you request 10 BTC and one maker quotes 5 BTC at 61,740 — both under your worst price — you will be filled for 9 BTC across both makers at their respective prices. The remaining 1 BTC is unfilled; your margin for that portion is returned. Fill-or-kill (FOK) — where a trade only executes if your full requested size can be filled in a single quote — is not currently supported. If you require a guaranteed full fill, size your request to what a single maker is likely to cover, or expect that a partial fill is possible.What happens if no quotes are received?
If no maker responds within the collection window, the request is cancelled and no margin is debited from your wallet – nothing settles onchain, and you pay nothing. Prices update continuously, so you can submit a new request immediately. This is uncommon on liquid markets, where multiple makers compete on every request. It mostly happens during extreme volatility, in deep illiquid markets, or when yourworst_price is tight enough that no maker is willing to fill at it.