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Cover: How a quote ages: 240 samples of a promise executed 0–10 seconds later

How a quote ages: 240 samples of a promise executed 0–10 seconds later

A quote taken through previewAndEncode, the world moving against it, the calldata executed unchanged up to ten seconds later. The drift table, the delay table, the live Base rows, and the reading they share: time is not what moves a quote; drift is.

Known formally as The Quote-Ageing Curve in the BlazePhoenix whitepaper.

BlazePhoenix Engineering · updated 2026-09-06 · data through 2026-10-11 · 6 min · written from the deployed bytecode

By Mitra (@Sigmacrit) — anonymous developer of the BlazePhoenix protocol. The code is the résumé.

Abstract in 15 languages · resumo · resumen · 摘要 · 要旨 · ملخص

English — A quote taken through previewAndEncode, the world moving against it, the calldata executed unchanged up to ten seconds later. The drift table, the delay table, the live Base rows, and the reading they share: time is not what moves a quote; drift is.

Português — Uma cotação obtida através de previewAndEncode, o mundo a mover-se contra ela, a calldata executada sem alterações até dez segundos depois. A tabela de deriva, a tabela de atraso, as linhas em Base ao vivo, e a leitura que partilham: o que move uma cotação não é o tempo; é a deriva.

Español — Una cotización tomada a través de previewAndEncode, el mundo moviéndose en su contra, la calldata ejecutada sin cambios hasta diez segundos después. La tabla de deriva, la tabla de retardo, las filas en Base en vivo, y la lectura que comparten: lo que mueve una cotización no es el tiempo; es la deriva.

Français — Un devis obtenu via previewAndEncode, le monde qui bouge contre lui, la calldata exécutée sans modification jusqu’à dix secondes plus tard. La table de dérive, la table de délai, les lignes en direct sur Base, et la lecture qu’elles partagent : ce qui déplace un devis, ce n’est pas le temps ; c’est la dérive.

Deutsch — Ein über previewAndEncode geholtes Angebot, die Welt bewegt sich dagegen, die Calldata bis zu zehn Sekunden später unverändert ausgeführt. Die Drift-Tabelle, die Verzögerungstabelle, die Live-Zeilen auf Base und die Lesart, die sie teilen: Was ein Angebot bewegt, ist nicht die Zeit, sondern die Drift.

Русский — Котировка, полученная через previewAndEncode, мир, движущийся против неё, calldata, исполненная без изменений до десяти секунд спустя. Таблица дрейфа, таблица задержки, живые строки на Base и общее для них прочтение: котировку двигает не время, а дрейф.

Türkçe — previewAndEncode üzerinden alınan bir teklif, dünyanın ona karşı hareket etmesi ve calldata’nın on saniyeye kadar sonra değiştirilmeden yürütülmesi. Kayma tablosu, gecikme tablosu, canlı Base satırları ve hepsinin paylaştığı okuma: bir teklifi kımıldatan zaman değil, kaymadır.

العربية — تسعيرة مأخوذة عبر previewAndEncode، والعالم يتحرك ضدها، وبيانات الاستدعاء (calldata) تُنفَّذ بلا تغيير بعد ذلك بمدة تصل إلى عشر ثوانٍ. جدول الانحراف، وجدول التأخير، وصفوف Base الحية، والقراءة المشتركة بينها: الذي يحرّك التسعيرة ليس الزمن، بل الانحراف.

हिन्दी — previewAndEncode के ज़रिए ली गई एक कोट, दुनिया उसके ख़िलाफ़ खिसकती हुई, और वही calldata दस सेकंड बाद तक बिना बदले निष्पादित। ड्रिफ़्ट तालिका, विलंब तालिका, लाइव Base पंक्तियाँ, और वह पाठ जो तीनों साझा करते हैं: कोट को समय नहीं हिलाता; ड्रिफ़्ट हिलाता है।

日本語 — previewAndEncode で取った見積もり、それに逆らって動く市場、そして最大十秒後に一切変更せず実行される calldata。ドリフト表、遅延表、Base 実環境の行、そしてそれらが共有する読み。見積もりを動かすのは時間ではなく、ドリフトである。

中文 — 一次通过 previewAndEncode 取得的报价,市场朝着不利方向移动,同一份 calldata 在最多十秒之后原样执行。漂移表、延迟表、Base 主网的实测行,以及它们共同的读数:移动报价的不是时间,而是漂移。

한국어 — previewAndEncode로 받은 견적, 그에 맞서 움직이는 시장, 그리고 최대 10초 뒤까지 그대로 실행되는 calldata. 드리프트 표, 지연 표, Base 실사용 행, 그리고 셋이 공유하는 읽기. 견적을 움직이는 것은 시간이 아니라 드리프트다.

Bahasa Indonesia — Sebuah kuotasi yang diambil lewat previewAndEncode, dunia bergerak melawannya, calldata dieksekusi tanpa diubah hingga sepuluh detik kemudian. Tabel drift, tabel jeda, baris-baris Base sungguhan, dan bacaan yang mereka bagi: yang menggerakkan kuotasi bukan waktu, melainkan drift.

বাংলা — previewAndEncode দিয়ে নেওয়া একটি কোট, দুনিয়া তার বিপরীতে সরছে, আর সেই calldata দশ সেকেন্ড পর পর্যন্ত অপরিবর্তিতভাবে চালানো হচ্ছে। ড্রিফট সারণি, বিলম্ব সারণি, লাইভ Base-এর সারিগুলি, এবং তাদের সবার অভিন্ন পাঠ: কোটকে সময় নড়ায় না; ড্রিফট নড়ায়।

Filipino — Isang quote na kinuha sa pamamagitan ng previewAndEncode, ang mundong gumagalaw laban dito, ang calldata na isinasagawa nang hindi binabago hanggang sampung segundo ang lipas. Ang talahanayan ng drift, ang talahanayan ng delay, ang mga live na hanay sa Base, at ang iisang pagbasang ibinabahagi nila: hindi oras ang gumagalaw sa isang quote; drift ang gumagalaw.

What you gain from this page is a measured answer to the question every integrator asks and most protocols answer with a shrug: a quote is a promise about a future block, so what does it promise ten seconds later, with other people trading? The answer here is a distribution over mocks, a reach on live Base, and three guarantees asserted on every sample rather than printed.

Stacked bars of settled and refused samples by adverse drift and by delay, with the delivered-to-predicted ratio per bucket
How a quote ages: 240 samples on mocks, settled or refused by the floor, bucketed by adverse drift (left) and by delay (right); time does not move a quote, drift does. Source: Swap Tests report §1.

The design

The quote is taken the way an integrator takes it: previewAndEncode returns the preview and the calldata. Then the world moves — zero to three trades by someone else go through the same pools, each up to 3 % of the shallow reserve, all in the user’s direction so that every one of them hurts. Zero to ten seconds pass. The calldata is executed unchanged. 240 samples on a three-token universe (A, B as the bridge coin, C: direct into the bridge, two hops through it, two hops the other way), every outcome classified. No sample failed to quote.

Bucketed by drift

drift between quote and executionsamplessettledrefused by the floor, RouterE(5)delivered / predicted — meanminmax
none6464010,000 bps10,00010,000
1 – 100 bps434309,952 bps9,80310,000
100 – 300 bps133102319,966 bps9,65310,000

Source: SWAP-TESTS-REPORT-2026-09.md §1; forge test --match-path test/QuoteDelayStatistics.t.sol -vv

Under up to 1 % of adverse drift every quote still fills, within 2 % of its prediction. Under 1–3 % the Iron-Law floor Φ refuses one in four rather than fill it below the attested output, and the fills land within 3.5 % of the prediction. The refusal is not a failure mode of the quote; it is the floor doing the one thing it exists for, and the refused rows are what the 31 in the last column are.

Bucketed by delay

delay between quote and executionsamplessettledrefused RouterE(5)delivered / predicted — meanmin
0 s171529,989 bps9,857
1 – 5 s9989109,959 bps9,653
6 – 10 s124105199,983 bps9,659

Source: SWAP-TESTS-REPORT-2026-09.md §1; the same 240 samples

The settle rates by delay are 15 of 17, 89 of 99 and 105 of 124 — the same picture at every delay, because time is not what moves a quote; drift is. A quote executed ten seconds later with nothing having traded delivers exactly what it said. A quote executed in the same second after three adverse trades may be refused. The clock is not the variable; the reserves are.

Asserted, not printed

Live Base: reach, not a distribution

The same measurement on a fork of Base at the current block, with the protocol deployed and real pools: 1,000 USDC into WETH, quoted, then executed 0, 3, 6 and 10 seconds later with nothing else moving. All four delivered exactly the prediction — 10,000 of 10,000 bps. Then the adversarial version: an amount of USDC traded ahead of the user through the same route, and the stale calldata executed 10 seconds later.

USDC traded ahead through the same route, stale calldata at + 10 soutcomedelivered / predicted
10,000settled9,999 bps
50,000settled9,998 bps
200,000settled9,994 bps
1,000,000settled9,974 bps
5,000,000settled10,000 bps

Source: SWAP-TESTS-REPORT-2026-09.md §2; test/fork/QuoteDelayFork.t.sol, USDC → WETH, 1,000 USDC, fork of Base

Five settled, none refused, no third outcome. A million dollars ahead of a thousand costs the thousand a quarter of a percent — the live pools are that deep — and the five-million trade routed through pools the thousand-dollar route does not touch, which is why its row reads 10,000. Live Base gives reach on one pair at one block; it does not give a distribution, and the report says so beside the table.

What a quote costs to take

The quote itself is a view call an integrator never pays for on chain. Measured through the ABI anyway, forty sizes each: on the mock universe previewPlan costs 121,313 gas where discovery finds one pool (σ 1,433) and 235,574 where a fresh registry prices three (σ 1,815); batchQuote of ten entries costs 205,539 per entry. On live Base, 1,524,221 cold with the admitted factories swept, 1,414,633 warm after one execution, 1,359,925 cold again after the discovery TTL — the sweep is about 7 % of a live quote.

Reproduce

forge test --match-path test/QuoteDelayStatistics.t.sol -vv               # 240 samples, both tables
DRPC_KEY=… forge test --match-path test/fork/QuoteDelayFork.t.sol -vv     # live Base, 1,000 USDC → WETH
forge test --match-path test/QuoterGasStatistics.t.sol -vv                # what a quote costs through the ABI

Do not trust this page — reproduce it

Every claim above is checkable against the chain. Start here:

forge test --match-path test/QuoteDelayStatistics.t.sol -vv  # prints the drift and delay tables above from 240 fresh samples
Cite this article

Licensed CC BY 4.0 — quote, translate and reuse freely, including commercially, with attribution and a link. Copy a ready-made citation:

BlazePhoenix (2026). How a quote ages: 240 samples of a promise executed 0–10 seconds later. BlazePhoenix Engineering. https://blazephoenix.xyz/learn/how-a-quote-ages
@misc{blazephoenix_how_a_quote_ages,
  title  = {How a quote ages: 240 samples of a promise executed 0–10 seconds later},
  author = {BlazePhoenix},
  year   = {2026},
  url    = {https://blazephoenix.xyz/learn/how-a-quote-ages},
  note   = {Accessed: reproduce the claim with the command above}
}

Writing an answer, a wiki entry or a paper? The claim above is reproducible against the chain before you quote it — which is the only sound basis for citing a technical source at all.

Contracts are verified on every chain we deploy to — addresses in the protocol manifest. Deeper formal treatment: the whitepaper (PDF).

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