Price impact and limit orders

Your own trade moves the price. Every TAO you sell into a pool makes the next bit of alpha a little more expensive, so a large stake gets a worse average price than a small one. This is called price impact.

Other trades can move the price too, between the moment you check it and the moment your trade lands in a block. This is called slippage.

Two habits help. First, look at a quote before you trade. A quote runs the real pool maths, so it shows what you will actually get, not just the current price.

Second, for larger amounts, use a limit. A limit order sets the worst price you will accept. The chain fills your order up to that price and either stops there or rejects the whole order, depending on how you set it.

Small pools move more than large ones, so the same amount has more impact on a young subnet.