Expected output describes the quote at the observed state. Minimum output describes a receiving constraint the transaction must satisfy. They belong in separate columns because one estimates the outcome and the other limits an accepted result.
Two rankings can disagree
Consider hypothetical exact-input alternatives for the same amount:
| Measure | Route A | Route B |
|---|---|---|
| Quoted output | 1,000 tokens | 998 tokens |
| Encoded minimum output | 990 tokens | 995 tokens |
| Separate cost in output-equivalent units | 2 tokens | 1 token |
A has the better quoted net output: 998 versus 997. B has the higher output floor after the stated separate-cost estimates: 994 versus 988. Calling either simply “best” conceals which criterion was used.
Read the encoded amount
The minimum-output guard rejects an exact-input swap that would return less than the required amount. It does not promise a fill at the quoted amount, and it does not require execution at the minimum.
Use the actual amount shown in the transaction review rather than guessing it from a percentage. Interfaces and execution methods can differ in calculation conventions, rounding and which deductions the protection covers.
Separate token protection from total economic cost
The output floor may not cap a separate gas payment. If gas changes, the estimated net floor in the table changes too. An executed revert can also consume network fees without delivering the output.
For a fair comparison, record both guards using consistent output tokens and describe any different tolerances. A looser receiving constraint can make an option appear easier to execute, but it also permits a worse result. Treat that as a condition of the offer, not as a fee that is automatically paid.
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- Understanding Swaps on Uniswap
Exact-input minimum output, exact-output maximum input, quote-size price impact and swap execution distinctions.
https://developers.uniswap.org/docs/get-started/concepts/traders/swaps