> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rialto.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# How Rialto Works

> How Rialto quotes every source onchain and routes each order to best execution.

## Overview

Rialto routes each order to the best available execution across its supported
liquidity sources. Quoting, routing, and settlement all occur onchain in a single
transaction.

## Execution lifecycle

1. **Quote:** Rialto requests a live price for the exact order size from every
   candidate source, including propAMMs and conventional DEX pools.
2. **Rank:** Quotes are compared by output net of network costs.
3. **Settle:** The selected route executes onchain atomically. The order either fills
   in full at the agreed terms or reverts.

## Onchain quoting

Sources are quoted at request time against live onchain state, not cached prices.
Each source is sampled for the specific order, so the comparison reflects
executable terms. A single order may be split across multiple sources when doing
so improves the net result.

## Pricing and quote validity

propAMM sources refresh their quotes continuously from their own reference prices,
so routing reflects current market conditions. Quotes are therefore short-lived
and represent executable terms only for a brief window, after which an order must
be requoted.

## Rialto as a liquidity source

Rialto also operates its own propAMM, Rivo Altus, which competes as one of the
sources quoted on each order. Rivo Altus quotes Stock Tokens and crypto. Like any
other source, it only wins a route when it returns the best execution for that
order.