Price Discovery

Once an intent is submitted, Orion must determine current prices to translate target weights into executable trades.

Price discovery is handled through dedicated price adapters, which provide the value of each asset in terms of the vault’s underlying asset. This is particularly important when dealing with yield-bearing instruments or vault shares, where the price is not simply a spot market quote.

By isolating pricing logic into adapters, Orion avoids embedding assumptions directly into execution. This makes pricing transparent, auditable, and easier to evolve over time.