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

# Order Execution

> What happens when a project deploys their token?

<Steps>
  <Step title="AutoBoy detects the launch">
    AutoBoy’s realtime indexer picks up the launch using information the project shared in advance.

    See: [How fast is AutoBoy?](/speed)
  </Step>

  <Step title="AutoBoy checks token price">
    AutoBoy continuously tracks the token’s market cap to see which orders are ready to fill.

    See: [Market Cap Calculation](/mcap-calculation)
  </Step>

  <Step title="AutoBoy executes the buy">
    When an order’s conditions are met, AutoBoy swaps the user’s USDC for the token via its Uniswap pool.
  </Step>

  <Step title="Tokens land in the user's wallet">
    The tokens sit in the user’s AutoBoy wallet, ready to withdraw anytime.

    See: [Wallets & Funds](/wallets-and-funds)
  </Step>
</Steps>

***

## Order Prioritization

For auto-buys on the open market, AutoBoy prioritises transaction submission based on the order's parameters:

1. **Market cap descending**: i.e. execution is attempted for orders willing to buy at the highest market cap first (where ‘No limit’ is the highest).
2. **Spend amount descending**: i.e. bigger orders fill first.

So, somebody who is willing to spend 100 USDC at a 500K MCap will have their buy transaction prioritised over someone who’s willing to spend 200 USDC at a max 100K MCap.