Slippage and price impact
What does the 1% slippage limit protect?
The web app sets minimum output = floor(quoted output × 0.99) in token base units for buys or lamports for sells. The program rejects execution below that amount. For a sell, both quoted and minimum SOL output are after the platform fee.
If a quote is 1,000 tokens, the minimum is 990 tokens. If the market changes enough to return only 989, the trade fails. A lower minimum does not reduce the 1% platform fee.
Why is price impact different?
Price impact compares the expected average execution with the pre-trade spot price, excluding the platform fee. Your own order changes the reserve ratio, so a large order can have significant impact even if nothing changes between quote and execution.
A first 10 SOL buy on a new curve pays 0.1 SOL in fees and has approximately 24.81% quoted price impact. Slippage tolerance is an additional execution bound; it does not mean the trade itself moves the market by only 1%.
Does a live quote reserve my price?
No. Live reserve updates let the app refresh its quote, but the transaction executes against reserves available when Solana processes it. The signed minimum output is the protection that applies on chain.
Integrations can request 0–500 basis points of slippage through the transaction API. The web app uses 100 basis points. The initial developer buy uses the exact fresh-curve output instead.