What is a price limit in a swap?
A price limit is the least amount of a coin you accept back from a swap, written into the memo. If the swap would pay less than that, THORChain refunds your coins instead of filling the swap below the limit.
Also called swap limit, trade limit or minimum output.
How the limit works
The limit is the LIM field of the memo, and the memo counts amounts in units where one whole coin is 100000000 units. A limit of 100000000 asks for at least one whole coin, and if the swap would return less, it is refunded.
A limit of 50000000 asks for at least half a coin, so set the limit to the least you would accept. It protects you if the price moves against you before the swap settles.
Limit swaps and streams
A limit swap is written with =< instead of =, and it runs only once the price meets the limit. It waits for that price, and when it expires, the funds still in it are refunded.
A streaming swap keeps the same limit. If its sub-swaps cannot reach that price during the stream, the inbound amount is refunded, in whole or in part.
In Redacted
Redacted’s public swap app at app.redacted.gg writes the limit from the tolerance you pick into the memo of a plain THORChain swap.
Related terms
Sources: Transaction memos, THORChain developer docs · Continuous liquidity pools, THORChain documentation
Updated November 1, 2026. All terms