Trading and pricing

Where prices come from

The price you trade at is always a live quote from the market at the moment you press buy or sell. Torch doesn't set prices.

Market cap, volume, holders and charts on token pages come from independent market-data providers. They're for information and can lag a few seconds behind, especially when a coin is moving fast. When the chart and the quote disagree, the quote is what you'll get.

How a trade is routed

The Telegram bot and the Terminal send your trade to the same execution engine. It:

1. Asks several independent aggregators and exchanges for a quote.
2. Picks the best route you can actually execute, not just the best headline number.
3. Adds the Torch fee and your slippage limit.
4. Signs with your wallet (see Security), sends the transaction and waits for confirmation.

Brand-new tokens on a partner launchpad's bonding curve are bought and sold on that curve until they graduate. After that, normal routing takes over.

Slippage and price impact

• Slippage is the worst price you'll accept. The default is a few percent and you can change it per trade or as a default. If the price moves past it before your trade lands, the trade fails and nothing is spent except, sometimes, network gas.
• Price impact is how much your own trade moves the price. Small pools move a lot. When impact is high (above 10%), Torch stops and asks you to confirm with Buy anyway, so you never pay a huge impact by accident.

Torch launchpad tokens

Launchpad tokens trade in a normal Uniswap v4 pool on Robinhood Chain. Anyone can trade them anywhere; Torch has no special access.

• Quotes already include the token's buy tax, so the amount shown is what you receive.
• In the first seconds after a launch, anti-snipe makes the tax much higher. Buying a few seconds later costs the normal rate. See How the launchpad works.

Cross-chain buys

You can buy a token on one chain while your money sits on another. Torch does this in two steps:

1. Bridge: your funds move to the token's chain.
2. Buy: the token is bought there, keeping a small amount back for network gas.

If step 2 can't complete (for example the price moved too much, or impact needs your confirmation), your bridged funds are safe on the destination chain. Tap Buy again and it becomes a normal same-chain buy. The small gas amount kept back stays in your wallet, so you can sell later without topping up.

Selling

Sells use the same routing. A few tokens charge their own tax on sells or transfers, or block selling entirely (honeypots). Torch can't override a token's own rules, so always check a token before buying it.