The surplus doctrine: when execution beats the quote, the user keeps the difference

BlazePhoenix Engineering · updated 2026-07-17 · 5 min · written from the deployed bytecode

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

EnglishWhen execution lands better than the quote, the difference goes to the trader, fee-exempt — enforced in immutable Router bytecode, and verifiable per fill by replaying quotes at historical blocks.

PortuguêsQuando a execução sai melhor que a cotação, a diferença vai para o trader, isenta de fee — imposto no bytecode imutável do Router e verificável fill a fill reproduzindo cotações em blocos históricos.

EspañolCuando la ejecución resulta mejor que la cotización, la diferencia va al trader, exenta de comisión — impuesto en el bytecode inmutable del Router y verificable por operación reproduciendo cotizaciones en bloques históricos.

FrançaisQuand l'exécution dépasse la cotation, la différence revient au trader, hors frais — inscrit dans le bytecode immuable du Router et vérifiable ordre par ordre en rejouant les cotations aux blocs historiques.

DeutschFällt die Ausführung besser aus als der Kurs, geht die Differenz gebührenfrei an den Trader — verankert im unveränderlichen Router-Bytecode und pro Fill nachprüfbar durch Replay der Kurse an historischen Blöcken.

РусскийЕсли исполнение оказывается лучше котировки, разница достаётся трейдеру без комиссии — это зашито в неизменяемом байткоде Роутера и проверяется по каждой сделке повтором котировок на исторических блоках.

TürkçeYürütme fiyat teklifinden iyi sonuçlanırsa fark, komisyonsuz olarak yatırımcıya gider — değişmez Router bytecode'unda zorunlu kılınır ve tarihi bloklarda teklifler yeniden oynatılarak işlem başına doğrulanabilir.

العربيةعندما يأتي التنفيذ أفضل من السعر المعروض، يذهب الفارق إلى المتداول معفى من الرسوم — مفروض في بايتكود الموجّه غير القابل للتغيير وقابل للتحقق لكل صفقة بإعادة تشغيل الأسعار عند الكتل التاريخية.

हिन्दीजब निष्पादन कोट से बेहतर होता है, अंतर ट्रेडर को मिलता है, बिना शुल्क — अपरिवर्तनीय Router बाइटकोड में लागू, और ऐतिहासिक ब्लॉकों पर कोट दोहराकर हर फिल के लिए सत्यापन योग्य।

日本語約定が見積もりを上回った場合、その差額は手数料なしでトレーダーのものになります。不変のRouterバイトコードで強制され、過去ブロックで見積もりを再実行すれば約定ごとに検証できます。

中文当执行结果优于报价时,差额归交易者所有且免手续费——由不可变的 Router 字节码强制执行,并可通过在历史区块重放报价逐笔验证。

한국어체결이 견적보다 좋게 나오면 그 차액은 수수료 없이 트레이더에게 돌아갑니다. 불변 Router 바이트코드로 강제되며, 과거 블록에서 견적을 재실행해 체결 건별로 검증할 수 있습니다.

Bahasa IndonesiaSaat eksekusi lebih baik dari kuotasi, selisihnya menjadi milik trader, bebas biaya — dipaksakan dalam bytecode Router yang tak dapat diubah dan dapat diverifikasi per transaksi dengan memutar ulang kuotasi di blok historis.

বাংলাযখন সম্পাদন কোটের চেয়ে ভালো হয়, পার্থক্যটি ফি ছাড়াই ট্রেডারের কাছে যায় — অপরিবর্তনীয় Router বাইটকোডে প্রয়োগকৃত, এবং ঐতিহাসিক ব্লকে কোট পুনঃচালনা করে প্রতিটি ফিল যাচাইযোগ্য।

FilipinoKapag mas maganda ang execution kaysa sa quote, ang diperensya ay mapupunta sa trader, walang bayad — ipinatutupad sa hindi nababagong Router bytecode at nabe-verify bawat fill sa pamamagitan ng pag-replay ng quotes sa mga historical block.

Markets move both ways inside a block. When execution lands BETTER than the quoted plan, most venues quietly keep the difference — positive slippage becomes house revenue. In the BlazePhoenix Router, the surplus path is explicit bytecode: output above the quoted netOut is forwarded to the recipient, and the 0.28% protocol fee (PROTOCOL_FEE = 28 bps) is charged on the QUOTED output only — the surplus rides free.

This is a doctrine, not a feature flag: an immutable contract cannot be quietly reconfigured to keep the upside later. The fee is on what we promised, never on your luck.

Verify it per fill

Every fill emits a public Swap event. Re-run the fill's quote at its block (eth_call is free at any historical block) and compare quoted netOut against the executed amount in the event. Any fill where executed > quoted shows the surplus delivered to the recipient. Our quoted-vs-executed record is reproducible by anyone with an RPC — no permission, no trust.

Do not trust this page — reproduce it

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

topic0 0xd6d34547c69c5ee3d2667625c188acf1006abb93e0ee7cf03925c67cf7760413 — pull Swap events from the Router and replay quotes at their blocks

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

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