diff --git a/indexer/api.ts b/indexer/api.ts
index 3db7066..6da8f4e 100644
--- a/indexer/api.ts
+++ b/indexer/api.ts
@@ -3,8 +3,8 @@
 // strings). Served same-origin in production (nginx /api → this) and through
 // the vite dev/preview proxy locally.
 import { createServer, type IncomingMessage, type ServerResponse } from 'node:http'
-import { PORT, log, now } from './config'
-import { db, kvGet, poolCounts } from './store'
+import { PORT, TUNE, log } from './config'
+import { db, kvGet, notePoolsHit, poolCounts } from './store'
 
 const JSONH = { 'content-type': 'application/json; charset=utf-8' }
 
@@ -54,8 +54,13 @@ function poolsWhere(params: Params): { where: string; args: (string | number)[]
   return { where: clauses.length ? 'WHERE ' + clauses.join(' AND ') : '', args }
 }
 
+// TVL ranking sinks corrupt figures to the bottom instead of filtering them:
+// this chain's whole TVL is ~8 orders under maxPoolTvlUsd, so anything above it
+// is a pricing artefact, not a whale — but it must stay reachable by address or
+// symbol search so it can still be diagnosed. (2026-07-22: without this guard
+// 120 of the 120 rows the POOLS tab fetches were fabricated.)
 const ORDER: Record<string, string> = {
-  tvl: 'ORDER BY (s.tvl_usd IS NULL), s.tvl_usd DESC',
+  tvl: `ORDER BY (s.tvl_usd IS NULL OR s.tvl_usd >= ${TUNE.maxPoolTvlUsd}), s.tvl_usd DESC`,
   vol: 'ORDER BY (st.vol24h_usd IS NULL), st.vol24h_usd DESC',
   created: 'ORDER BY (p.created_block IS NULL), p.created_block DESC, p.pair_index DESC',
 }
@@ -118,7 +123,7 @@ function getPools(params: Params) {
   }
 
   const totals = Object.fromEntries(poolCounts().map((c) => [c.proto, c.n]))
-  return { ready: kvGet('ready') === '1', asof: now(), totals, count, pools, tokens }
+  return { ready: kvGet('ready') === '1', asof: Number(kvGet('snapshot_asof')) || null, totals, count, pools, tokens }
 }
 
 function getTokens(params: Params) {
@@ -141,13 +146,23 @@ function getHealth() {
   const tokens = (db.prepare('SELECT COUNT(*) AS n FROM tokens').get() as { n: number }).n
   const priced = (db.prepare('SELECT COUNT(*) AS n FROM tokens WHERE price_usd > 0').get() as { n: number }).n
   const tvl = (db.prepare('SELECT COUNT(*) AS n FROM pool_state WHERE tvl_usd IS NOT NULL').get() as { n: number }).n
+  // pricing-health canary: a healthy chain has zero of these
+  const corrupt = (
+    db.prepare('SELECT COUNT(*) AS n FROM pool_state WHERE tvl_usd >= ?').get(TUNE.maxPoolTvlUsd) as { n: number }
+  ).n
+  const stateFreshness = db.prepare('SELECT MIN(updated) AS oldest, MAX(updated) AS newest FROM pool_state').get()
+  const statsFreshness = db.prepare('SELECT MAX(updated) AS newest FROM pool_stats').get()
   return {
     ready: kvGet('ready') === '1',
-    asof: now(),
+    asof: Number(kvGet('snapshot_asof')) || null,
+    lastBootError: kvGet('boot_error') || null,
     pools: totals,
     tokens,
     pricedTokens: priced,
     tvlPools: tvl,
+    corruptTvlPools: corrupt,
+    stateFreshness,
+    statsFreshness,
     v3Cursor: Number(kvGet('v3_cursor') ?? 0),
     v2Count: Number(kvGet('v2_count') ?? 0),
     rssMb: Math.round(process.memoryUsage.rss() / 1e6),
@@ -166,7 +181,10 @@ export function startApi(): void {
       }
       let body: unknown
       let cache = 'public, max-age=10'
-      if (url.pathname === '/api/pools') body = getPools(url.searchParams)
+      if (url.pathname === '/api/pools') {
+        notePoolsHit() // open the frontpage-sweep demand gate
+        body = getPools(url.searchParams)
+      }
       else if (url.pathname === '/api/tokens') body = getTokens(url.searchParams)
       else if (url.pathname === '/api/health') {
         body = getHealth()
diff --git a/indexer/config.ts b/indexer/config.ts
index e16fc03..485864a 100644
--- a/indexer/config.ts
+++ b/indexer/config.ts
@@ -15,18 +15,47 @@ export const PORT = Number(process.env.INDEXER_PORT || 8787)
 export const DB_PATH =
   process.env.INDEXER_DB || fileURLToPath(new URL('./data/index.db', import.meta.url))
 
+/** positive-number env override for a tuning knob; unset/0/garbage → default */
+const envMs = (key: string, def: number): number => {
+  const v = Number(process.env[key])
+  return Number.isFinite(v) && v > 0 ? v : def
+}
+
+// Cadence philosophy: DISCOVERY and the dust sweeps are slow — they only keep
+// the long tail honest, and none of it reaches a user until it ranks onto the
+// POOLS tab. The `frontpage` tier is the fast one: it sweeps just the top-N
+// pools by TVL (exactly what /api/pools?sort=tvl serves) so the on-screen data
+// is timely — and only while someone is actually polling (gated on the last
+// /api/pools hit) so an idle site costs nothing. All knobs take env overrides
+// (docker-compose env) so cadence can be tuned without a code rebuild.
 export const TUNE = {
-  tailMs: 10_000, // factory tail + v2 allPairsLength poll
-  hotSweepMs: 60_000, // state refresh for hot pools
-  fullSweepMs: 3_600_000, // state refresh for ACTIVE pools (≥$100 TVL or <48h old)
-  censusMs: 21_600_000, // 6h full-catalog dust census (~114k pools and growing)
-  statsMs: 300_000, // GeckoTerminal enrichment cycle
+  // --- discovery + background sweeps (slow) ---
+  tailMs: envMs('TAIL_MS', 1_800_000), // factory tail + v2 allPairsLength poll (new pools may lag up to 30min)
+  hotSweepMs: envMs('HOT_SWEEP_MS', 600_000), // "might rise onto the homepage" set (≥$10k TVL / GT-active / <1h)
+  fullSweepMs: envMs('ACTIVE_SWEEP_MS', 14_400_000), // ACTIVE pools (≥$100 TVL or <48h old), every 4h
+  censusMs: envMs('CENSUS_MS', 86_400_000), // full-catalog dust census (~114k pools and growing), daily
+  statsMs: envMs('STATS_MS', 300_000), // GeckoTerminal enrichment cycle (external HTTP, off the RPC queue)
+  // --- frontpage tier: the pools the POOLS tab actually shows, swept fast ---
+  frontpageMs: envMs('FRONTPAGE_MS', 15_000), // sweep cadence for the on-screen top-N
+  frontpageN: envMs('FRONTPAGE_N', 64), // how many top-TVL pools count as "on the homepage"
+  frontpageGateMs: envMs('FRONTPAGE_GATE_MS', 90_000), // skip the sweep if /api/pools has been idle this long
+  // --- event tail: reread only the pools that emitted a swap/liquidity event ---
+  logtailMs: envMs('LOGTAIL_MS', 12_000), // how often to pull new logs and reread the pools that changed
+  logtailMaxBlocks: envMs('LOGTAIL_MAX_BLOCKS', 5_000), // cap the span per pull so a backlog catches up in bounded chunks
+  // --- fixed knobs ---
   gtPaceMs: 2_600, // ≥2.6s between GT calls (free tier: 30/min)
   batch: 400, // calls per multicall aggregate
   batchGapMs: 40, // pause between aggregates (gentle on the RPC)
-  hotTvlUsd: 10_000, // pools at/above this TVL refresh every hotSweepMs
-  minDepthUsd: 300, // min priced-side USD depth to propagate a price through a pool
-  gtFreshSecs: 1_800, // GT prices younger than this are never overwritten by propagation
+  hotTvlUsd: 10_000, // pools at/above this TVL are always in the hot set
+  minDepthUsd: 300, // min CREDIBLE-side USD depth to propagate a price through a pool
+  maxUncredibleRatio: 25, // a pool-priced side may claim at most this × the credible side before TVL clamps to 2× credible
+  // --- pricing safety rails (see state.ts header) ---
+  maxPriceHops: 3, // how far a price may travel from its GT/anchor seed
+  maxAbsTick: 700_000, // |tick| past this is a broken init, not a market (v3 MAX_TICK = 887272)
+  minTokenUsd: 1e-18, // plausibility band for any price we store, serve or propagate
+  maxTokenUsd: 1e9,
+  maxSideOverDepth: 100, // a pool-priced side may claim at most this × the credible depth behind its price
+  maxPoolTvlUsd: 1e9, // above this a TVL figure is corrupt, not a whale: never ranked, never swept fast
 }
 
 /** repo-root .env `RPC` (SECRET — never log/print it). Fallback: key-free public RPC. */
@@ -34,7 +63,7 @@ export function rpcUrl(): string {
   const env = process.env.RPC?.trim()
   if (env) return env
   try {
-    const text = readFileSync(new URL('../.env', import.meta.url), 'utf8')
+    const text = readFileSync(new URL('../../.env', import.meta.url), 'utf8')
     const m = text.match(/^\s*RPC\s*=\s*(\S+)\s*$/m)
     if (m) return m[1]
   } catch {
@@ -43,6 +72,16 @@ export function rpcUrl(): string {
   return PUBLIC_RPC
 }
 
+/** Extra Alchemy key is indexer-only; shared paid/public RPC remains fallback. */
+export function rpcUrls(): string[] {
+  const extraKey = process.env.EXTRA_ALCHEMY_RPC_KEY?.trim()
+  const dedicated = extraKey
+    ? `https://robinhood-mainnet.g.alchemy.com/v2/${extraKey}`
+    : undefined
+  const shared = rpcUrl()
+  return dedicated && dedicated !== shared ? [dedicated, shared] : [shared]
+}
+
 export const now = () => Math.floor(Date.now() / 1000)
 
 /** terminal-style timestamped log line */
diff --git a/indexer/logtail.ts b/indexer/logtail.ts
new file mode 100644
index 0000000..968df05
--- /dev/null
+++ b/indexer/logtail.ts
@@ -0,0 +1,49 @@
+// Event-driven state refresh. A pool's reserves change only when it emits an
+// event, so we don't reread on a timer — we ask the chain which pools changed.
+// One eth_getLogs (v2 Sync, v3 Swap/Mint/Burn, any address) since the last block
+// we processed yields exactly the pools that traded; we reread only those. Cost
+// tracks trading activity, not catalog size — this is what lets the 6-hourly
+// census over 100k+ dust pools, and the timed hot/active sweeps, go away.
+//
+// Two deliberate choices:
+//  - reread state, don't apply the logs' own deltas: whatever the chain returns
+//    now is the truth, so a reorg needs no unwinding and a missed log self-heals
+//    on the pool's next event (the daily census is the longstop).
+//  - gated on the same POOLS-tab demand signal as the frontpage sweep — the only
+//    consumer of fresh state is a watching user, and a getLogs every 12s costs
+//    75 CU. Idle → no polling. On resume we jump the cursor to head instead of
+//    replaying the idle backlog: freshness wants the current state, not history.
+import { numberToHex, toEventSelector } from 'viem'
+import { TUNE, log } from './config'
+import { pc } from './rpc'
+import { computeTvlFor, sweepState } from './state'
+import { kvGet, kvSet, poolsHitAgeMs } from './store'
+
+export const TOPICS = [
+  toEventSelector('Sync(uint112,uint112)'), // univ2 reserves (fires on every mint/burn/swap)
+  toEventSelector('Swap(address,address,int256,int256,uint160,uint128,int24)'), // univ3 price + liquidity
+  toEventSelector('Mint(address,address,int24,int24,uint128,uint256,uint256)'), // univ3 liquidity add
+  toEventSelector('Burn(address,int24,int24,uint128,uint256,uint256)'), // univ3 liquidity remove
+]
+
+/** reread every catalog pool that emitted a tracked event since the last run */
+export async function logtail(): Promise<void> {
+  if (poolsHitAgeMs() > TUNE.frontpageGateMs) return // nobody watching — don't spend getLogs
+  const head = Number(await pc.getBlockNumber())
+  const cursor = Number(kvGet('logtail_block') ?? 0)
+  const from = cursor && head - cursor <= TUNE.logtailMaxBlocks ? cursor + 1 : head // skip idle backlog
+  if (from > head) return
+
+  const logs = (await pc.request({
+    method: 'eth_getLogs',
+    params: [{ fromBlock: numberToHex(from), toBlock: numberToHex(head), topics: [TOPICS] }],
+  })) as { address: string }[]
+
+  const dirty = [...new Set(logs.map((l) => l.address.toLowerCase()))]
+  if (dirty.length) {
+    const swept = await sweepState(dirty) // sweepState ignores addresses not in the catalog
+    computeTvlFor(dirty)
+    log(`[logtail] blocks ${from}-${head}: ${dirty.length} pools emitted, ${swept} in catalog`)
+  }
+  kvSet('logtail_block', String(head))
+}
diff --git a/indexer/main.ts b/indexer/main.ts
index 0c30ec8..3e4d642 100644
--- a/indexer/main.ts
+++ b/indexer/main.ts
@@ -3,24 +3,42 @@
 // Run: `npm run indexer` (tsx). Data lives in indexer/data/index.db (SQLite).
 //
 // Boot: backfill → token meta → full state sweep → GT cycle → reprice → ready.
-// Loops: tail 10s · hot sweep 60s · full sweep 60min · GT stats 5min.
+// Loops: logtail 12s (reread only pools that emitted events) · frontpage 15s
+//        (on-screen top-N by TVL, gated on API demand) · tail 30min · hot 10min
+//        · active 4h · census 24h · GT stats 5min (off the RPC queue).
 // The API starts listening immediately; `ready:false` in responses tells the
 // frontend to keep using its client-side fallback until the first pass lands.
-import { log, PORT, TUNE } from './config'
-import { usingPrivateRpc } from './rpc'
+import { log, now, PORT, sleep, TUNE } from './config'
+import { safeError, usingPrivateRpc } from './rpc'
 import { backfillV3, syncV2, tailV3 } from './catalog'
 import { computeTvlFor, ensureTokenMeta, reprice, sweepState } from './state'
 import { gtCycle } from './stats'
-import { activeAddrs, allPoolAddrs, db, hotAddrs, kvGet, kvSet, poolCounts } from './store'
+import { logtail } from './logtail'
+import { activeAddrs, allPoolAddrs, db, frontpageAddrs, hotAddrs, kvGet, kvSet, poolCounts, poolsHitAgeMs } from './store'
 import { startApi } from './api'
 
-/** setTimeout-chained loop — never overlaps itself, logs failures and keeps going */
-function loop(name: string, ms: number, fn: () => Promise<void>): void {
+let refreshQueue = Promise.resolve()
+
+function enqueueRefresh(fn: () => Promise<void>): Promise<void> {
+  const run = refreshQueue.then(fn, fn)
+  refreshQueue = run
+  return run
+}
+
+/**
+ * setTimeout-chained loop. `queued` (default) routes the tick through the shared
+ * RPC queue so state sweeps neither overlap nor get dropped. Stats runs
+ * off-queue: it hits GeckoTerminal over HTTP (not the RPC) with ~30 calls paced
+ * ≥2.6s apart, so enqueuing it would pin the queue for over a minute and starve
+ * the 15s frontpage sweep. It touches the DB only in synchronous transactions,
+ * which JS's single thread already serializes against the sweeps' writes.
+ */
+function loop(name: string, ms: number, fn: () => Promise<void>, queued = true): void {
   const tick = async () => {
     try {
-      await fn()
+      await (queued ? enqueueRefresh(fn) : fn())
     } catch (e) {
-      log(`[${name}] error:`, String(e).slice(0, 200))
+      log(`[${name}] error:`, safeError(e))
     }
     setTimeout(tick, ms)
   }
@@ -33,10 +51,7 @@ const timed = async <T,>(fn: () => Promise<T>): Promise<[T, number]> => {
   return [r, Date.now() - t0]
 }
 
-async function boot(): Promise<void> {
-  log('up33 lp-indexer starting —', usingPrivateRpc ? 'rpc: private (.env)' : 'rpc: public')
-  startApi()
-
+async function initialRefresh(): Promise<void> {
   const [addedV3, msV3] = await timed(backfillV3)
   if (addedV3 > 0 || !kvGet('v3_boot_logged')) {
     log(`[catalog] univ3 backfill done: +${addedV3} pools (${(msV3 / 1000).toFixed(0)}s)`)
@@ -50,16 +65,32 @@ async function boot(): Promise<void> {
   if (metaN) log(`[tokens] metadata fetched for ${metaN} tokens (${(msMeta / 1000).toFixed(0)}s)`)
 
   const all = allPoolAddrs()
-  const [, msSweep] = await timed(() => sweepState(all))
-  log(`[sweep] full ${all.length} pools (${(msSweep / 1000).toFixed(0)}s)`)
+  const [swept, msSweep] = await timed(() => sweepState(all))
+  log(`[sweep] full ${swept}/${all.length} pools (${(msSweep / 1000).toFixed(0)}s)`)
+  if (all.length && !swept) throw new Error('initial state sweep updated no pools')
 
-  await gtCycle().catch((e) => log('[stats] gt cycle failed:', String(e).slice(0, 120)))
+  await gtCycle().catch((e) => log('[stats] gt cycle failed:', safeError(e)))
   const pr = reprice()
   log(`[price] ${pr.priced} tokens priced · tvl on ${pr.tvlPools} pools`)
 
   kvSet('ready', '1')
+  kvSet('snapshot_asof', String(now()))
+  kvSet('boot_error', '')
   log(`READY — http://localhost:${PORT}/api/health`)
+}
 
+function startLoops(): void {
+  // primary freshness: reread pools the instant a trade touches them.
+  loop('logtail', TUNE.logtailMs, logtail)
+  // keep the pools users are looking at fresh even absent a trade, but only
+  // while they're looking (demand gate) so an idle site spends no RPC.
+  loop('frontpage', TUNE.frontpageMs, async () => {
+    if (poolsHitAgeMs() > TUNE.frontpageGateMs) return
+    const top = frontpageAddrs(TUNE.frontpageN)
+    if (!top.length) return
+    await sweepState(top)
+    computeTvlFor(top)
+  })
   loop('tail', TUNE.tailMs, async () => {
     const fresh = [...(await tailV3()), ...(await syncV2())]
     if (fresh.length) {
@@ -76,20 +107,46 @@ async function boot(): Promise<void> {
   })
   loop('active', TUNE.fullSweepMs, async () => {
     const addrs = activeAddrs()
-    const [, ms] = await timed(() => sweepState(addrs))
+    const [swept, ms] = await timed(() => sweepState(addrs))
     const p = reprice()
-    log(`[sweep] active ${addrs.length} pools (${(ms / 1000).toFixed(0)}s) · ${p.priced} tokens priced · tvl on ${p.tvlPools}`)
+    log(`[sweep] active ${swept}/${addrs.length} pools (${(ms / 1000).toFixed(0)}s) · ${p.priced} tokens priced · tvl on ${p.tvlPools}`)
   })
   loop('census', TUNE.censusMs, async () => {
     const addrs = allPoolAddrs()
-    const [, ms] = await timed(() => sweepState(addrs))
+    const [swept, ms] = await timed(() => sweepState(addrs))
     const p = reprice()
-    log(`[sweep] census ${addrs.length} pools (${(ms / 1000).toFixed(0)}s) · tvl on ${p.tvlPools}`)
-  })
-  loop('stats', TUNE.statsMs, async () => {
-    await gtCycle()
-    reprice()
+    log(`[sweep] census ${swept}/${addrs.length} pools (${(ms / 1000).toFixed(0)}s) · tvl on ${p.tvlPools}`)
+    if (addrs.length && !swept) throw new Error('census state sweep updated no pools')
+    kvSet('snapshot_asof', String(now()))
   })
+  loop(
+    'stats',
+    TUNE.statsMs,
+    async () => {
+      await gtCycle()
+      reprice()
+    },
+    false, // off the RPC queue — paced GT HTTP must not block the frontpage sweep
+  )
+}
+
+async function boot(): Promise<void> {
+  log('up33 lp-indexer starting —', usingPrivateRpc ? 'rpc: private (.env)' : 'rpc: public')
+  startApi()
+  startLoops()
+
+  for (;;) {
+    try {
+      await enqueueRefresh(initialRefresh)
+      return
+    } catch (e) {
+      const error = safeError(e)
+      kvSet('boot_error', error)
+      const retryMs = 60_000 // fixed short retry — independent of the (slow) hot cadence
+      log(`[boot] error; retrying in ${retryMs / 1_000}s:`, error)
+      await sleep(retryMs)
+    }
+  }
 }
 
 process.on('SIGINT', () => {
@@ -103,6 +160,6 @@ process.on('SIGTERM', () => {
 })
 
 boot().catch((e) => {
-  log('FATAL boot:', e)
+  log('FATAL boot:', safeError(e))
   process.exit(1)
 })
diff --git a/indexer/pricing.test.ts b/indexer/pricing.test.ts
new file mode 100644
index 0000000..45ec3ac
--- /dev/null
+++ b/indexer/pricing.test.ts
@@ -0,0 +1,202 @@
+import assert from 'node:assert/strict'
+import { mkdtempSync, rmSync } from 'node:fs'
+import { tmpdir } from 'node:os'
+import { join } from 'node:path'
+import { after, test } from 'node:test'
+
+const dir = mkdtempSync(join(tmpdir(), 'lp-terminal-pricing-'))
+process.env.INDEXER_DB = join(dir, 'test.db')
+
+const { reprice, tvlOf, v3Price1Per0, v3SpotOk, weightedMedian } = await import('./state')
+const { db, insertPool, setTokenPrice, upsertState, upsertTokenMeta } = await import('./store')
+
+after(() => {
+  db.close()
+  rmSync(dir, { recursive: true, force: true })
+})
+
+test('v3 spot price comes from sqrtPriceX96, decimals-adjusted', () => {
+  // the autopsied P/USDG pool (P 18dec, USDG 6dec): sqrt implies ≈ $66.7/P —
+  // the balance ratio the old code used had priced it $733,344 (11,000× off)
+  const p = v3Price1Per0('647112078155313432359389', 18, 6)
+  assert.ok(p !== null && Math.abs(p - 66.71) / 66.71 < 0.01)
+  // same-decimals identity: sqrt = 2^96 → price exactly 1
+  assert.equal(v3Price1Per0(String(2 ** 96), 18, 18), 1)
+  // absent/degenerate states never price
+  assert.equal(v3Price1Per0(null, 18, 6), null)
+  assert.equal(v3Price1Per0('0', 18, 6), null)
+})
+
+test('a v3 pool only votes on price when its slot0 is a market', () => {
+  assert.equal(v3SpotOk('12345', 180_896), true)
+  // no in-range liquidity: slot0 is wherever the last poke left it, and the
+  // next dust swap moves it anywhere for free
+  assert.equal(v3SpotOk('0', 180_896), false)
+  assert.equal(v3SpotOk(null, 180_896), false)
+  // parked at the boundary (MAX_TICK 887272) — a broken init, not a market.
+  // This is the pool that minted the $3.5e50 quote on 2026-07-22.
+  assert.equal(v3SpotOk('12345', 887_271), false)
+  assert.equal(v3SpotOk('12345', -887_271), false)
+  assert.equal(v3SpotOk('12345', null), false)
+  assert.equal(v3SpotOk('not-a-number', 0), false)
+})
+
+test('a token price is the depth-weighted median of its quotes', () => {
+  // one manipulated pool must outweigh every honest pool, not just out-claim it
+  assert.equal(weightedMedian([{ usd: 5, depth: 1_000 }]), 5)
+  assert.equal(
+    weightedMedian([
+      { usd: 1e9, depth: 400 }, // manipulated, thin
+      { usd: 2, depth: 10_000 }, // honest, deep
+    ]),
+    2,
+  )
+  // three-way: the middle of the depth mass wins, not the biggest number
+  assert.equal(
+    weightedMedian([
+      { usd: 100, depth: 500 },
+      { usd: 2, depth: 900 },
+      { usd: 2.1, depth: 800 },
+    ]),
+    2.1,
+  )
+})
+
+test('tvl clamps a runaway pool-priced side to the credible side', () => {
+  // the autopsied case: $387 credible USDG vs $10.85M pool-priced P → $774 approx
+  assert.deepEqual(tvlOf(10_850_000, false, 387, true), { tvl: 774, approx: true })
+  // both credible: plain sum, exact
+  assert.deepEqual(tvlOf(5_000, true, 5_200, true), { tvl: 10_200, approx: false })
+  // pool-priced side under the ratio passes through (honest near-edge pools)
+  assert.deepEqual(tvlOf(9_000, true, 600, false), { tvl: 9_600, approx: false })
+  // one side unpriced: 2× the priced side, approximate
+  assert.deepEqual(tvlOf(null, false, 1_000, true), { tvl: 2_000, approx: true })
+  // junk-vs-junk: the smaller side bounds the claim
+  assert.deepEqual(tvlOf(1e9, false, 100, false), { tvl: 200, approx: true })
+  // nothing priced: no figure
+  assert.deepEqual(tvlOf(null, false, null, false), { tvl: null, approx: false })
+})
+
+test('tvl caps a side at the credible depth that established its price', () => {
+  // two junk sides inflated by the SAME factor pass the ratio test (that is how
+  // a $1.4k pool reported $2.95e49) — the depth cap is what actually bounds it
+  assert.deepEqual(tvlOf(1e24, false, 1e24, false, 1e5, 1e5), { tvl: 200_000, approx: true })
+  // a side under its cap is untouched
+  assert.deepEqual(tvlOf(4_000, false, 4_100, false, 1e5, 1e5), { tvl: 8_100, approx: false })
+  // the cap applies before the ratio test, and the ratio test still wins when
+  // it is the tighter bound
+  assert.deepEqual(tvlOf(1e9, false, 100, false, 1e6, Infinity), { tvl: 200, approx: true })
+})
+
+// ---------------------------------------------------------------------------
+// End-to-end: the 2026-07-22 poisoning, replayed against the real pass.
+//
+// One v3 pool parked at MAX_TICK with zero in-range liquidity, holding $1,464
+// of real USDG, priced its counter-token at $3.5e50; that price then out-bid
+// every honest quote (its fabricated "depth" was 1e19× bigger) and spread until
+// 120 of the 120 rows the POOLS tab fetches were fabricated.
+// ---------------------------------------------------------------------------
+
+const A = (n: number) => '0x' + n.toString(16).padStart(40, '0')
+const [USDG, WETH, GME, KITTY, FAKE, JUNK] = [1, 2, 3, 4, 5, 6].map(A)
+const MAX_SQRT_RATIO = 1461446703485210103287273052203988822378723970341n
+const sqrtX96 = (p1per0: number, dec0: number, dec1: number) =>
+  BigInt(Math.round(Math.sqrt(p1per0 * 10 ** (dec1 - dec0)) * 2 ** 96))
+const units = (x: number, dec: number) => BigInt(Math.round(x * 10 ** Math.min(dec, 15))) * 10n ** BigInt(Math.max(dec - 15, 0))
+
+const priceOf = (addr: string) =>
+  (db.prepare('SELECT price_usd FROM tokens WHERE address = ?').get(addr) as { price_usd: number | null }).price_usd
+const poolTvl = (addr: string) =>
+  db.prepare('SELECT tvl_usd, tvl_approx FROM pool_state WHERE address = ?').get(addr) as {
+    tvl_usd: number | null
+    tvl_approx: number
+  }
+
+test('reprice: a boundary-tick pool with no in-range liquidity cannot mint a price', () => {
+  for (const [a, sym, dec] of [
+    [USDG, 'USDG', 6],
+    [WETH, 'WETH', 18],
+    [GME, 'GME', 18],
+    [KITTY, 'KITTY', 18],
+    [FAKE, 'FAKE', 18],
+    [JUNK, 'JUNK', 18],
+  ] as const)
+    upsertTokenMeta(a, sym, dec, true)
+  setTokenPrice(USDG, 1, 100_000, 'gt')
+  setTokenPrice(WETH, 2_000, 100_000, 'gt')
+
+  // patient zero: 0.239 GME + 1408 USDG, slot0 pinned at MAX_TICK, L = 0
+  const gmeUsdg = A(0x100)
+  insertPool({ address: gmeUsdg, proto: 'univ3', token0: GME, token1: USDG, feePpm: 10_000, tickSpacing: 200 })
+  upsertState(gmeUsdg, {
+    sqrtPrice: MAX_SQRT_RATIO,
+    tick: 887_271,
+    liquidity: 0n,
+    reserve0: units(0.239, 18),
+    reserve1: units(1_408, 6),
+  })
+
+  // honest: 5 WETH + 1e7 KITTY at 2,000,000 KITTY/WETH → KITTY = $0.001
+  const wethKitty = A(0x101)
+  insertPool({ address: wethKitty, proto: 'univ3', token0: WETH, token1: KITTY, feePpm: 3_000, tickSpacing: 60 })
+  upsertState(wethKitty, {
+    sqrtPrice: sqrtX96(2e6, 18, 18),
+    tick: 180_896,
+    liquidity: 36_819_258_015_569_838_458_222n,
+    reserve0: units(5, 18),
+    reserve1: units(1e7, 18),
+  })
+
+  // thin dissenter on the same token, 1000× off: $400 of USDG vs $10k of WETH
+  const usdgKitty = A(0x102)
+  insertPool({ address: usdgKitty, proto: 'univ2', token0: USDG, token1: KITTY, feePpm: 3_000 })
+  upsertState(usdgKitty, { reserve0: units(400, 6), reserve1: units(4e8, 18), totalSupply: 1n })
+
+  // hop 2, and then a pool where FAKE's balance alone would claim $1e9
+  const kittyFake = A(0x103)
+  insertPool({ address: kittyFake, proto: 'univ2', token0: KITTY, token1: FAKE, feePpm: 3_000 })
+  upsertState(kittyFake, { reserve0: units(1e6, 18), reserve1: units(1e3, 18), totalSupply: 1n })
+  const fakeJunk = A(0x104)
+  insertPool({ address: fakeJunk, proto: 'univ2', token0: FAKE, token1: JUNK, feePpm: 3_000 })
+  upsertState(fakeJunk, { reserve0: units(1e9, 18), reserve1: units(1e6, 18), totalSupply: 1n })
+
+  reprice()
+
+  // 1. the boundary pool never priced GME, and its TVL is 2× the credible side
+  assert.equal(priceOf(GME), null)
+  const gmeTvl = poolTvl(gmeUsdg)
+  assert.ok(gmeTvl.tvl_usd !== null && Math.abs(gmeTvl.tvl_usd - 2_816) < 1, `got ${gmeTvl.tvl_usd}`)
+  assert.equal(gmeTvl.tvl_approx, 1)
+
+  // 2. the deep honest quote sets KITTY; the thin 1000×-off pool does not move it
+  const kitty = priceOf(KITTY)
+  assert.ok(kitty !== null && Math.abs(kitty - 0.001) / 0.001 < 0.01, `got ${kitty}`)
+
+  // 3. hop 2 prices FAKE, but its depth is capped by KITTY's — so the pool where
+  //    FAKE holds a nominal $1e9 reports $200k, not $2e9
+  const fake = priceOf(FAKE)
+  assert.ok(fake !== null && Math.abs(fake - 1) < 0.01, `got ${fake}`)
+  const junkTvl = poolTvl(fakeJunk)
+  assert.ok(junkTvl.tvl_usd !== null && junkTvl.tvl_usd <= 250_000, `got ${junkTvl.tvl_usd}`)
+  assert.equal(junkTvl.tvl_approx, 1)
+
+  // 4. the invariant the frontpage actually depends on
+  const worst = db.prepare('SELECT MAX(tvl_usd) AS m FROM pool_state').get() as { m: number | null }
+  assert.ok((worst.m ?? 0) < 1e9, `a pool reported ${worst.m}`)
+  const dearest = db.prepare('SELECT MAX(price_usd) AS m FROM tokens').get() as { m: number | null }
+  assert.ok((dearest.m ?? 0) <= 1e9, `a token priced ${dearest.m}`)
+})
+
+test('reprice: a poisoned price does not survive the next pass', () => {
+  // simulate the live DB state: KITTY pinned at a fantasy price with the
+  // fabricated depth that used to make it unbeatable
+  setTokenPrice(KITTY, 3.5e50, 1e49, 'pool')
+  reprice()
+  const kitty = priceOf(KITTY)
+  assert.ok(kitty !== null && Math.abs(kitty - 0.001) / 0.001 < 0.01, `got ${kitty}`)
+
+  // an out-of-band GT seed is dropped too, whatever depth it claims
+  setTokenPrice(WETH, 1e30, 1e9, 'gt')
+  reprice()
+  assert.equal(priceOf(WETH), null)
+})
diff --git a/indexer/rpc.ts b/indexer/rpc.ts
index 718db1d..88e3003 100644
--- a/indexer/rpc.ts
+++ b/indexer/rpc.ts
@@ -1,5 +1,5 @@
-import { createPublicClient, defineChain, http, type PublicClient } from 'viem'
-import { log, PUBLIC_RPC, TUNE, rpcUrl, sleep } from './config'
+import { createPublicClient, defineChain, fallback, http, type PublicClient } from 'viem'
+import { log, PUBLIC_RPC, TUNE, rpcUrls, sleep } from './config'
 
 // duplicated from src/config/chain.ts — that module imports src/config/env.ts
 // (import.meta.env, vite-only) so it can't be loaded under node
@@ -11,20 +11,26 @@ const robinhood = defineChain({
   contracts: { multicall3: { address: '0xcA11bde05977b3631167028862bE2a173976CA11' } },
 })
 
-const url = rpcUrl()
-export const usingPrivateRpc = url !== PUBLIC_RPC
+const urls = rpcUrls()
+export const usingPrivateRpc = urls.some((url) => url !== PUBLIC_RPC)
 // timeout is deliberately tight: a healthy 400-call aggregate answers in 2-4s
 // (measured 2026-07-16); a stalled attempt should fail fast and retry, not
 // pin the whole boot for 30s. Bad chunks degrade to sub-chunks in mc().
 export const pc: PublicClient = createPublicClient({
   chain: robinhood,
-  transport: http(url, { timeout: 10_000, retryCount: 2, retryDelay: 400 }),
+  transport: fallback(
+    urls.map((url) => http(url, { timeout: 10_000 })),
+    { retryCount: 2, retryDelay: 400 },
+  ),
 })
 
 /** error text safe to log — the RPC url (secret) is redacted */
-const redact = (e: unknown) =>
-  String(e instanceof Error ? `${e.name}: ${e.message.split('\n')[0]}` : e)
-    .replaceAll(url, '<rpc>')
+export const safeError = (e: unknown) =>
+  urls
+    .reduce(
+      (text, url) => text.replaceAll(url, '<rpc>'),
+      String(e instanceof Error ? `${e.name}: ${e.message.split('\n')[0]}` : e),
+    )
     .slice(0, 120)
 
 // loose call shape — abi fragments come from parseAbi, results are narrowed by ok<T>()
@@ -49,7 +55,7 @@ export async function mc(calls: Call[]): Promise<McRes[]> {
     try {
       out.push(...(await agg(chunk)))
     } catch (e) {
-      log('[rpc] chunk failed, retrying:', redact(e))
+      log('[rpc] chunk failed, retrying:', safeError(e))
       await sleep(600)
       try {
         out.push(...(await agg(chunk)))
@@ -59,7 +65,7 @@ export async function mc(calls: Call[]): Promise<McRes[]> {
           try {
             out.push(...(await agg(part)))
           } catch (e2) {
-            log(`[rpc] dropped ${part.length}-call sub-chunk:`, redact(e2))
+            log(`[rpc] dropped ${part.length}-call sub-chunk:`, safeError(e2))
             out.push(...part.map(() => ({ status: 'failure' as const })))
           }
         }
diff --git a/indexer/rpcConfig.test.ts b/indexer/rpcConfig.test.ts
new file mode 100644
index 0000000..94c94ba
--- /dev/null
+++ b/indexer/rpcConfig.test.ts
@@ -0,0 +1,21 @@
+import assert from 'node:assert/strict'
+import test from 'node:test'
+import { rpcUrls } from './config'
+
+test('indexer uses its dedicated RPC before the shared paid RPC', () => {
+  const previousExtraKey = process.env.EXTRA_ALCHEMY_RPC_KEY
+  const previousRpc = process.env.RPC
+  try {
+    process.env.EXTRA_ALCHEMY_RPC_KEY = 'extra-test-key'
+    process.env.RPC = 'https://shared.invalid'
+    assert.deepEqual(rpcUrls(), [
+      'https://robinhood-mainnet.g.alchemy.com/v2/extra-test-key',
+      'https://shared.invalid',
+    ])
+  } finally {
+    if (previousExtraKey === undefined) delete process.env.EXTRA_ALCHEMY_RPC_KEY
+    else process.env.EXTRA_ALCHEMY_RPC_KEY = previousExtraKey
+    if (previousRpc === undefined) delete process.env.RPC
+    else process.env.RPC = previousRpc
+  }
+})
diff --git a/indexer/state.test.ts b/indexer/state.test.ts
new file mode 100644
index 0000000..4681969
--- /dev/null
+++ b/indexer/state.test.ts
@@ -0,0 +1,85 @@
+import assert from 'node:assert/strict'
+import { mkdtempSync, rmSync } from 'node:fs'
+import { tmpdir } from 'node:os'
+import { join } from 'node:path'
+import { after, test } from 'node:test'
+
+const dir = mkdtempSync(join(tmpdir(), 'lp-terminal-indexer-'))
+process.env.INDEXER_DB = join(dir, 'test.db')
+
+const { db, insertPool, upsertState } = await import('./store')
+const { pc } = await import('./rpc')
+const { sweepState } = await import('./state')
+
+after(() => {
+  db.close()
+  rmSync(dir, { recursive: true, force: true })
+})
+
+test('partial pool reads preserve the last-good state', async () => {
+  const v2 = '0x0000000000000000000000000000000000000001'
+  const v3 = '0x0000000000000000000000000000000000000002'
+  const complete = '0x0000000000000000000000000000000000000003'
+  const v3Token0 = '0x0000000000000000000000000000000000000020'
+  const v3Token1 = '0x0000000000000000000000000000000000000021'
+  insertPool({
+    address: v2,
+    proto: 'univ2',
+    token0: '0x0000000000000000000000000000000000000010',
+    token1: '0x0000000000000000000000000000000000000011',
+    feePpm: 3_000,
+  })
+  insertPool({ address: v3, proto: 'univ3', token0: v3Token0, token1: v3Token1, feePpm: 500, tickSpacing: 10 })
+  insertPool({
+    address: complete,
+    proto: 'univ2',
+    token0: '0x0000000000000000000000000000000000000030',
+    token1: '0x0000000000000000000000000000000000000031',
+    feePpm: 3_000,
+  })
+  upsertState(v2, { reserve0: 11n, reserve1: 12n, totalSupply: 13n })
+  upsertState(v3, { sqrtPrice: 14n, tick: 15, liquidity: 16n, reserve0: 17n, reserve1: 18n })
+  upsertState(complete, { reserve0: 31n, reserve1: 32n, totalSupply: 33n })
+
+  const read = (address: string) =>
+    db
+      .prepare('SELECT sqrt_price, tick, liquidity, reserve0, reserve1, total_supply, updated FROM pool_state WHERE address = ?')
+      .get(address)
+  const v2Before = read(v2)
+  const v3Before = read(v3)
+
+  const original = pc.multicall
+  Object.defineProperty(pc, 'multicall', {
+    configurable: true,
+    value: async ({ contracts }: { contracts: { address: string; functionName: string }[] }) =>
+      contracts.map((call) => {
+        if (call.address === v2 && call.functionName === 'getReserves')
+          return { status: 'success', result: [21n, 22n, 0] }
+        if (call.address === v2 && call.functionName === 'totalSupply') return { status: 'failure' }
+        if (call.address === v3 && call.functionName === 'slot0') return { status: 'success', result: [24n, 25] }
+        if (call.address === v3 && call.functionName === 'liquidity') return { status: 'success', result: 26n }
+        if (call.address === v3Token0) return { status: 'success', result: 27n }
+        if (call.address === v3Token1) return { status: 'failure' }
+        if (call.address === complete && call.functionName === 'getReserves')
+          return { status: 'success', result: [41n, 42n, 0] }
+        if (call.address === complete && call.functionName === 'totalSupply') return { status: 'success', result: 43n }
+        throw new Error(`unexpected call: ${call.address} ${call.functionName}`)
+      }),
+  })
+  try {
+    assert.equal(await sweepState([v2, v3, complete]), 1)
+    assert.deepEqual(read(v2), v2Before)
+    assert.deepEqual(read(v3), v3Before)
+    const { updated: _updated, ...completeAfter } = read(complete) as Record<string, unknown>
+    assert.deepEqual(completeAfter, {
+      sqrt_price: null,
+      tick: null,
+      liquidity: null,
+      reserve0: '41',
+      reserve1: '42',
+      total_supply: '43',
+    })
+  } finally {
+    Object.defineProperty(pc, 'multicall', { configurable: true, value: original })
+  }
+})
diff --git a/indexer/state.ts b/indexer/state.ts
index f7d612d..1d614cc 100644
--- a/indexer/state.ts
+++ b/indexer/state.ts
@@ -5,18 +5,43 @@
 //          are the TVL basis, matching how GT/dexscreener report "reserve".
 //   univ2: getReserves + totalSupply.
 //
-// Pricing is a waterfall: GeckoTerminal token prices are ground truth while
-// fresh (stats.ts seeds them, depth = pool reserve/2); everything else comes
-// from anchor propagation — a token gets priced through the deepest pool that
-// pairs it against an already-priced token, requiring ≥ TUNE.minDepthUsd of
-// priced-side depth so dust pools can't set prices. TVL then = sum of priced
-// sides (single-priced-side pools: 2× that side, flagged approximate).
+// Pricing: GeckoTerminal token prices (stats.ts, depth = pool reserve/2) plus
+// the USDG anchor are the only CREDIBLE seeds; every other price is propagated
+// from them through pools, using the pool's SPOT — v2 reserve ratio, v3 slot0
+// sqrt price. v3 BALANCES are liquidity-shape artifacts, never a price
+// (measured: a near-edge pool priced a token 11,000× off spot, turning a ~$1.4k
+// pool into $10.85M of "TVL").
+//
+// Four rails keep a manipulated pool from minting a price (2026-07-22 autopsy:
+// ONE v3 pool parked at MAX_TICK with zero in-range liquidity, holding $1,464
+// of real USDG, priced its counter-token at $3.5e50 — which then poisoned 138
+// tokens and put 120 fake rows on the POOLS frontpage, burying every real one):
+//
+//  1. spot must be usable — a v3 pool with no in-range liquidity, or parked at
+//     a boundary tick, has a slot0 anyone can move for free: not a price.
+//  2. propagation is a BFS by HOP from the seeds. A token settles at the
+//     shortest hop that can price it and never re-prices from a longer path, so
+//     a chain of junk pools can't out-shout the WETH pool next door.
+//  3. depth (the weight behind a quote) is CREDIBLE dollars: past hop 1 it is
+//     capped by the depth backing the known side. The old `balance × its price`
+//     let a fabricated price fabricate its own authority — the bigger the lie,
+//     the more it outranked every honest quote, permanently.
+//  4. within a hop, a token's quotes are combined by DEPTH-WEIGHTED MEDIAN, so
+//     one manipulated pool has to outweigh every honest pool to move a price.
+//
+// Nothing pool-derived is inherited across passes (loadSeeds reads GT/anchor
+// only) — a poisoned price cannot survive a reprice. TVL = sum of priced sides,
+// bounded by tvlOf(): one-sided → 2× that side; a pool-priced side that dwarfs
+// the credible side → clamped to 2× credible; and any pool-priced side is
+// capped at maxSideOverDepth × the credible depth that established its price.
+// Every bounded figure flags tvl_approx.
 import { erc20Abi, formatUnits } from 'viem'
 import { uniV2PairAbi, uniV3PoolAbi } from '../src/abi'
 import { ADDR, TUNE, log, now } from './config'
 import { mc, ok, type Call } from './rpc'
 import {
   allTokens,
+  clearDerivedPrices,
   db,
   missingMetaTokens,
   setTokenPrice,
@@ -71,6 +96,8 @@ export async function sweepState(addrs: string[]): Promise<number> {
   for (let i = 0; i < addrs.length; i += 5_000) {
     done += await sweepSlice(addrs.slice(i, i + 5_000))
   }
+  if (done < addrs.length)
+    log(`[sweep] ${done}/${addrs.length} pools updated; kept last-good state for ${addrs.length - done}`)
   return done
 }
 
@@ -95,6 +122,7 @@ async function sweepSlice(addrs: string[]): Promise<number> {
   }
   const res = await mc(calls)
   let i = 0
+  let done = 0
   tx(() => {
     for (const p of rows) {
       if (p.proto === 'univ3') {
@@ -102,32 +130,58 @@ async function sweepSlice(addrs: string[]): Promise<number> {
         const liq = ok<bigint>(res[i++])
         const b0 = ok<bigint>(res[i++])
         const b1 = ok<bigint>(res[i++])
-        if (!s0) continue
+        if (!s0 || liq === undefined || b0 === undefined || b1 === undefined) continue
         upsertState(p.address, {
           sqrtPrice: s0[0],
           tick: s0[1],
-          liquidity: liq ?? 0n,
-          reserve0: b0 ?? 0n,
-          reserve1: b1 ?? 0n,
+          liquidity: liq,
+          reserve0: b0,
+          reserve1: b1,
         })
+        done++
       } else {
         const rs = ok<readonly [bigint, bigint, number]>(res[i++])
         const ts = ok<bigint>(res[i++])
-        if (!rs) continue
-        upsertState(p.address, { reserve0: rs[0], reserve1: rs[1], totalSupply: ts ?? 0n })
+        if (!rs || ts === undefined) continue
+        upsertState(p.address, { reserve0: rs[0], reserve1: rs[1], totalSupply: ts })
+        done++
       }
     }
   })
-  return rows.length
+  return done
 }
 
-type PriceEntry = { usd: number; depth: number; src: string; updated: number }
+/** `hops` = distance from a credible seed: 0 = GT/anchor, 1..n = propagated */
+type PriceEntry = { usd: number; depth: number; src: string; hops: number }
 
+/** a price outside this band is a broken pool, not a market */
+export const plausibleUsd = (x: number | null | undefined): x is number =>
+  x != null && Number.isFinite(x) && x >= TUNE.minTokenUsd && x <= TUNE.maxTokenUsd
+
+/**
+ * Seeds for a pricing pass: GT + anchor ONLY. Pool-derived prices are rebuilt
+ * from scratch every time — inheriting one (with the depth it claimed) is what
+ * made poisoning permanent, since nothing honest could ever outbid it again.
+ */
+const loadSeeds = (): Map<string, PriceEntry> => {
+  const m = new Map<string, PriceEntry>()
+  for (const t of allTokens())
+    if (t.price_src && t.price_src !== 'pool' && plausibleUsd(t.price_usd))
+      m.set(t.address, { usd: t.price_usd!, depth: t.price_depth_usd, src: t.price_src, hops: 0 })
+  return m
+}
+
+/** every stored price, for TVL arithmetic only (computeTvlFor — no propagation) */
 const loadPrices = (): Map<string, PriceEntry> => {
   const m = new Map<string, PriceEntry>()
   for (const t of allTokens())
-    if (t.price_usd != null && t.price_usd > 0)
-      m.set(t.address, { usd: t.price_usd, depth: t.price_depth_usd, src: t.price_src ?? '?', updated: t.price_updated ?? 0 })
+    if (plausibleUsd(t.price_usd))
+      m.set(t.address, {
+        usd: t.price_usd!,
+        depth: t.price_depth_usd,
+        src: t.price_src ?? '?',
+        hops: t.price_src === 'pool' ? 1 : 0,
+      })
   return m
 }
 
@@ -138,66 +192,193 @@ type StateRow = {
   token1: string
   reserve0: string
   reserve1: string
+  sqrt_price: string | null
+  liquidity: string | null
+  tick: number | null
 }
 const statesQ = () =>
   db
     .prepare(
-      `SELECT p.address, p.proto, p.token0, p.token1, s.reserve0, s.reserve1
+      `SELECT p.address, p.proto, p.token0, p.token1, s.reserve0, s.reserve1, s.sqrt_price, s.liquidity, s.tick
        FROM pools p JOIN pool_state s ON s.address = p.address`,
     )
     .all() as StateRow[]
 
+const Q96 = 2 ** 96
+/** univ3 spot from slot0: HUMAN token1 per token0 (null when absent/degenerate) */
+export function v3Price1Per0(sqrtPrice: string | null, dec0: number, dec1: number): number | null {
+  if (!sqrtPrice) return null
+  const r = Number(sqrtPrice) / Q96
+  const p = r * r * 10 ** (dec0 - dec1)
+  return Number.isFinite(p) && p > 0 ? p : null
+}
+
 /**
- * Full pricing pass: propagate USD prices from GT/anchor seeds through pools,
- * then recompute every pool's TVL. Pure JS over in-memory rows (~35k pools),
- * runs after full sweeps and after each GT cycle.
+ * Is a univ3 pool's slot0 a price at all? Two ways it isn't:
+ *  - no in-range liquidity: slot0 is wherever the last poke left it and the
+ *    next dust swap moves it anywhere, for free.
+ *  - parked at a boundary tick (|tick| → MAX_TICK 887272): a pool initialized
+ *    at the extreme, which is how the $3.5e50 quote got minted.
+ * Such pools still get TVL from the OTHER side's price — they just don't vote.
+ */
+export function v3SpotOk(liquidity: string | null, tick: number | null): boolean {
+  if (tick === null || Math.abs(tick) > TUNE.maxAbsTick) return false
+  try {
+    return liquidity !== null && BigInt(liquidity) > 0n
+  } catch {
+    return false
+  }
+}
+
+/** HUMAN token1-per-token0 spot, or null when this pool may not set a price */
+const spotOf = (s: StateRow, b0: number, b1: number, decs: Map<string, number>): number | null => {
+  if (s.proto !== 'univ3') return b0 > 0 && b1 > 0 ? b1 / b0 : null
+  if (!v3SpotOk(s.liquidity, s.tick)) return null
+  return v3Price1Per0(s.sqrt_price, decs.get(s.token0) ?? 18, decs.get(s.token1) ?? 18)
+}
+
+/**
+ * Depth-weighted median of a token's candidate quotes. A single manipulated
+ * pool now has to bring more than half the credible depth backing a token to
+ * move its price — with "deepest wins" it only had to claim a bigger number.
+ */
+export function weightedMedian(quotes: readonly { usd: number; depth: number }[]): number {
+  if (quotes.length === 1) return quotes[0].usd
+  const sorted = [...quotes].sort((a, b) => a.usd - b.usd)
+  const half = sorted.reduce((a, q) => a + q.depth, 0) / 2
+  let acc = 0
+  for (const q of sorted) {
+    acc += q.depth
+    if (acc >= half) return q.usd
+  }
+  return sorted[sorted.length - 1].usd
+}
+
+/**
+ * TVL from two priced sides. `credible` = the side's price came from GT or the
+ * USDG anchor rather than pool propagation. Three bounds, all flagging approx:
+ *  - `cap0/cap1`: a pool-priced side may not claim more than
+ *    maxSideOverDepth × the credible depth that established its price. This is
+ *    the absolute ceiling — without it a $1.4k pool's fabricated quote turned
+ *    into a $2.95e49 "TVL" that no ratio test could catch.
+ *  - a side claiming more than maxUncredibleRatio × its credible counterparty
+ *    is capped at 2× the credible side.
+ *  - junk-vs-junk pools are bounded by the smaller side.
+ */
+export function tvlOf(
+  u0: number | null,
+  cred0: boolean,
+  u1: number | null,
+  cred1: boolean,
+  cap0 = Infinity,
+  cap1 = Infinity,
+): { tvl: number | null; approx: boolean } {
+  let capped = false
+  if (u0 != null && u0 > cap0) {
+    u0 = cap0
+    capped = true
+  }
+  if (u1 != null && u1 > cap1) {
+    u1 = cap1
+    capped = true
+  }
+  const bounded = (r: { tvl: number | null; approx: boolean }) => (capped ? { ...r, approx: true } : r)
+  if (u0 == null && u1 == null) return { tvl: null, approx: false }
+  if (u0 == null || u1 == null) return { tvl: (u0 ?? u1)! * 2, approx: true }
+  if (cred0 !== cred1) {
+    const cu = cred0 ? u0 : u1
+    const ju = cred0 ? u1 : u0
+    if (ju > cu * TUNE.maxUncredibleRatio) return { tvl: cu * 2, approx: true }
+  } else if (!cred0 && !cred1) {
+    const lo = Math.min(u0, u1)
+    if (Math.max(u0, u1) > lo * TUNE.maxUncredibleRatio) return { tvl: lo * 2, approx: true }
+  }
+  return bounded({ tvl: u0 + u1, approx: false })
+}
+
+const credible = (e?: PriceEntry) => !!e && e.src !== 'pool'
+/** ceiling on what a pool-priced side may claim; credible seeds are unbounded */
+const capOf = (e?: PriceEntry) => (e && e.src === 'pool' ? e.depth * TUNE.maxSideOverDepth : Infinity)
+
+/** at most this many quotes retained per token per hop (memory bound) */
+const MAX_QUOTES = 32
+
+/**
+ * Full pricing pass: BFS USD prices out from the GT/anchor seeds, then
+ * recompute every pool's TVL. Pure JS over in-memory rows (~230k pools), runs
+ * after full sweeps and after each GT cycle. Pool-derived prices are discarded
+ * and rebuilt from scratch on every call — see the rails in the file header.
  */
 export function reprice(): { priced: number; tvlPools: number } {
   const decs = new Map(allTokens().map((t) => [t.address, t.decimals]))
-  const prices = loadPrices()
+  const prices = loadSeeds()
   // bootstrap anchor before the first GT cycle: USDG ≈ $1 (GT overwrites it)
   if (!prices.has(ADDR.USDG.toLowerCase()))
-    prices.set(ADDR.USDG.toLowerCase(), { usd: 1, depth: 1, src: 'anchor', updated: now() })
+    prices.set(ADDR.USDG.toLowerCase(), { usd: 1, depth: 1, src: 'anchor', hops: 0 })
 
-  const states = statesQ()
+  // Balances and spot are decoded ONCE — every pool is walked maxPriceHops
+  // times plus once more for TVL, and formatUnits+BigInt per visit was the
+  // pass's whole GC bill (the container's heap cap is 448MB).
   const human = (raw: string, addr: string) => Number(formatUnits(BigInt(raw), decs.get(addr) ?? 18))
-  const gtFresh = (e: PriceEntry) => e.src === 'gt' && now() - e.updated < TUNE.gtFreshSecs
+  const states = statesQ().map((s) => {
+    const b0 = human(s.reserve0, s.token0)
+    const b1 = human(s.reserve1, s.token1)
+    return { s, b0, b1, spot: spotOf(s, b0, b1, decs) }
+  })
 
-  const dirty = new Map<string, PriceEntry>()
-  for (let round = 0; round < 3; round++) {
-    let changed = 0
-    for (const s of states) {
-      const b0 = human(s.reserve0, s.token0)
-      const b1 = human(s.reserve1, s.token1)
-      for (const [known, other, kb, ob] of [
-        [s.token0, s.token1, b0, b1],
-        [s.token1, s.token0, b1, b0],
+  // hop 1 = priced directly against a seed, hop 2 = against a hop-1 token, ...
+  // A token settles at the FIRST hop that can price it and is never revisited,
+  // so a long chain of junk pools can never displace a nearer honest quote.
+  const derived = new Map<string, PriceEntry>()
+  for (let hop = 1; hop <= TUNE.maxPriceHops; hop++) {
+    const quotes = new Map<string, { usd: number; depth: number }[]>()
+    for (const { s, b0, b1, spot: p1per0 } of states) {
+      if (p1per0 === null) continue
+      for (const [known, other, kb, ob, knownIs0] of [
+        [s.token0, s.token1, b0, b1, true],
+        [s.token1, s.token0, b1, b0, false],
       ] as const) {
         const kp = prices.get(known)
-        if (!kp || ob <= 0) continue
-        const depth = kb * kp.usd
-        if (depth < TUNE.minDepthUsd) continue
-        const existing = prices.get(other)
-        if (existing && (gtFresh(existing) || existing.depth >= depth)) continue
-        const e: PriceEntry = { usd: depth / ob, depth, src: 'pool', updated: now() }
-        prices.set(other, e)
-        dirty.set(other, e)
-        changed++
+        if (!kp || kp.hops !== hop - 1 || ob <= 0 || prices.has(other)) continue
+        // credible dollars only: past the seeds a quote is worth no more than
+        // the depth backing the side it came from, so an inflated price can no
+        // longer inflate its own authority
+        const depth = kp.hops === 0 ? kb * kp.usd : Math.min(kb * kp.usd, kp.depth)
+        if (!(depth >= TUNE.minDepthUsd)) continue
+        const usd = knownIs0 ? kp.usd / p1per0 : kp.usd * p1per0
+        if (!plausibleUsd(usd)) continue
+        const list = quotes.get(other)
+        if (!list) quotes.set(other, [{ usd, depth }])
+        else if (list.push({ usd, depth }) > MAX_QUOTES * 2) {
+          list.sort((a, b) => b.depth - a.depth)
+          list.length = MAX_QUOTES
+        }
       }
     }
-    if (!changed) break
+    if (!quotes.size) break
+    for (const [addr, qs] of quotes) {
+      const e: PriceEntry = {
+        usd: weightedMedian(qs),
+        depth: qs.reduce((m, q) => Math.max(m, q.depth), 0),
+        src: 'pool',
+        hops: hop,
+      }
+      prices.set(addr, e)
+      derived.set(addr, e)
+    }
   }
 
   let tvlPools = 0
   tx(() => {
-    for (const [addr, e] of dirty) setTokenPrice(addr, e.usd, e.depth, e.src)
-    for (const s of states) {
+    clearDerivedPrices() // no pool-derived price outlives the pass that made it
+    for (const [addr, e] of derived) setTokenPrice(addr, e.usd, e.depth, e.src)
+    for (const { s, b0, b1 } of states) {
       const p0 = prices.get(s.token0)
       const p1 = prices.get(s.token1)
-      const u0 = p0 ? human(s.reserve0, s.token0) * p0.usd : null
-      const u1 = p1 ? human(s.reserve1, s.token1) * p1.usd : null
-      const tvl = u0 != null && u1 != null ? u0 + u1 : u0 != null ? u0 * 2 : u1 != null ? u1 * 2 : null
-      setTvl(s.address, tvl, tvl != null && (u0 == null || u1 == null))
+      const u0 = p0 ? b0 * p0.usd : null
+      const u1 = p1 ? b1 * p1.usd : null
+      const { tvl, approx } = tvlOf(u0, credible(p0), u1, credible(p1), capOf(p0), capOf(p1))
+      setTvl(s.address, tvl, approx)
       if (tvl != null) tvlPools++
     }
   })
@@ -210,7 +391,7 @@ export function computeTvlFor(addrs: string[]): void {
   const decs = new Map(allTokens().map((t) => [t.address, t.decimals]))
   const prices = loadPrices()
   const q = db.prepare(
-    `SELECT p.address, p.proto, p.token0, p.token1, s.reserve0, s.reserve1
+    `SELECT p.address, p.proto, p.token0, p.token1, s.reserve0, s.reserve1, s.sqrt_price, s.liquidity, s.tick
      FROM pools p JOIN pool_state s ON s.address = p.address WHERE p.address = ?`,
   )
   tx(() => {
@@ -222,8 +403,8 @@ export function computeTvlFor(addrs: string[]): void {
       const p1 = prices.get(s.token1)
       const u0 = p0 ? human(s.reserve0, s.token0) * p0.usd : null
       const u1 = p1 ? human(s.reserve1, s.token1) * p1.usd : null
-      const tvl = u0 != null && u1 != null ? u0 + u1 : u0 != null ? u0 * 2 : u1 != null ? u1 * 2 : null
-      setTvl(s.address, tvl, tvl != null && (u0 == null || u1 == null))
+      const { tvl, approx } = tvlOf(u0, credible(p0), u1, credible(p1), capOf(p0), capOf(p1))
+      setTvl(s.address, tvl, approx)
     }
   })
 }
diff --git a/indexer/stats.ts b/indexer/stats.ts
index d8f5192..a213067 100644
--- a/indexer/stats.ts
+++ b/indexer/stats.ts
@@ -8,6 +8,7 @@
 // NOTE: GT has no UP33 dex entry — UP33 pool stats stay on the frontend's
 // existing dexscreener path; this indexer only serves the Uniswap catalog.
 import { GT, TUNE, log, sleep } from './config'
+import { plausibleUsd } from './state'
 import { poolRow, setTokenPrice, upsertStats } from './store'
 
 const LISTS = [
@@ -60,15 +61,17 @@ function ingest(p: GtPool): boolean {
   const h24 = a.transactions?.h24
   const txns = h24 ? (h24.buys ?? 0) + (h24.sells ?? 0) : null
   upsertStats(addr, num(a.volume_usd?.h24), txns, reserve, 'geckoterminal')
-  // token price seeds: ground truth while fresh; depth = half the pool's reserve
+  // Token price seeds — these are the CREDIBLE roots the whole pricing graph
+  // hangs off, and they're the one input the propagation rails can't second-
+  // guess, so an implausible GT quote is dropped rather than seeded.
   const depth = (reserve ?? 0) / 2
   if (depth > 0) {
     const base = tokenOfId(p.relationships?.base_token?.data?.id)
     const quote = tokenOfId(p.relationships?.quote_token?.data?.id)
     const bp = num(a.base_token_price_usd)
     const qp = num(a.quote_token_price_usd)
-    if (base && bp && bp > 0) setTokenPrice(base, bp, depth, 'gt')
-    if (quote && qp && qp > 0) setTokenPrice(quote, qp, depth, 'gt')
+    if (base && plausibleUsd(bp)) setTokenPrice(base, bp, depth, 'gt')
+    if (quote && plausibleUsd(qp)) setTokenPrice(quote, qp, depth, 'gt')
   }
   return true
 }
diff --git a/indexer/store.ts b/indexer/store.ts
index 5c570a4..dcfd662 100644
--- a/indexer/store.ts
+++ b/indexer/store.ts
@@ -4,7 +4,7 @@
 import { mkdirSync } from 'node:fs'
 import { dirname } from 'node:path'
 import { DatabaseSync } from 'node:sqlite'
-import { DB_PATH, now } from './config'
+import { DB_PATH, TUNE, now } from './config'
 
 mkdirSync(dirname(DB_PATH), { recursive: true })
 export const db = new DatabaseSync(DB_PATH)
@@ -47,7 +47,7 @@ CREATE TABLE IF NOT EXISTS pool_state (
   reserve1     TEXT NOT NULL DEFAULT '0',
   total_supply TEXT,    -- univ2 LP supply
   tvl_usd      REAL,
-  tvl_approx   INTEGER NOT NULL DEFAULT 0, -- 1 = only one side priced (tvl = 2× that side)
+  tvl_approx   INTEGER NOT NULL DEFAULT 0, -- 1 = bounded figure: one side unpriced (2× priced side) or junk-side clamp (see tvlOf)
   updated      INTEGER NOT NULL
 );
 
@@ -129,6 +129,17 @@ const priceQ = db.prepare(`
 export const setTokenPrice = (addr: string, usd: number, depthUsd: number, src: string) =>
   void priceQ.run(addr.toLowerCase(), usd, depthUsd, src, now())
 
+// Drop every pool-derived price (reprice rebuilds them from the credible seeds
+// on the same pass) plus anything outside the plausibility band, whatever its
+// source — a GT quote can be garbage too, and a stored fantasy price is how one
+// broken pool poisoned 138 tokens. Runs inside reprice's transaction, so the
+// API never observes the gap.
+const clearDerivedQ = db.prepare(
+  `UPDATE tokens SET price_usd = NULL, price_depth_usd = 0, price_src = NULL, price_updated = NULL
+   WHERE price_src = 'pool' OR (price_usd IS NOT NULL AND (price_usd < ? OR price_usd > ?))`,
+)
+export const clearDerivedPrices = () => void clearDerivedQ.run(TUNE.minTokenUsd, TUNE.maxTokenUsd)
+
 export type TokenRow = {
   address: string
   symbol: string
@@ -184,16 +195,40 @@ const upStatsQ = db.prepare(`
 export const upsertStats = (addr: string, vol24h: number | null, txns24h: number | null, liqUsd: number | null, source: string) =>
   void upStatsQ.run(addr.toLowerCase(), vol24h, txns24h, liqUsd, source, now())
 
+/**
+ * Frontpage set: the top-N pools by TVL — exactly what /api/pools?sort=tvl
+ * returns to the POOLS tab, so sweeping these keeps every on-screen row fresh.
+ * The maxPoolTvlUsd ceiling matches the API's ranking guard: a corrupt figure
+ * must not be able to spend the fast tier's whole RPC budget on itself.
+ */
+export const frontpageAddrs = (n: number): string[] =>
+  (
+    db
+      .prepare('SELECT address FROM pool_state WHERE tvl_usd IS NOT NULL AND tvl_usd < ? ORDER BY tvl_usd DESC LIMIT ?')
+      .all(TUNE.maxPoolTvlUsd, n) as { address: string }[]
+  ).map((r) => r.address)
+
+// ---- demand gate ----
+// The frontpage sweep only spends RPC while the POOLS tab is actually being
+// polled: the API stamps `lastPoolsHit` on every /api/pools request, the sweep
+// loop checks its age. Idle site → no fast sweeps → no cost. Starts "closed"
+// (lastPoolsHit = 0) so nothing sweeps until the first request lands.
+let lastPoolsHit = 0
+export const notePoolsHit = (): void => {
+  lastPoolsHit = Date.now()
+}
+export const poolsHitAgeMs = (): number => Date.now() - lastPoolsHit
+
 /** hot set: real TVL, or GT-visible activity, or freshly created */
 export const hotAddrs = (): string[] =>
   (
     db
       .prepare(
-        `SELECT address FROM pool_state WHERE tvl_usd >= ?
+        `SELECT address FROM pool_state WHERE tvl_usd BETWEEN ? AND ?
          UNION SELECT address FROM pool_stats WHERE vol24h_usd > 0
          UNION SELECT address FROM pools WHERE added_ts > ?`,
       )
-      .all(10_000, now() - 3_600) as { address: string }[]
+      .all(TUNE.hotTvlUsd, TUNE.maxPoolTvlUsd, now() - 3_600) as { address: string }[]
   ).map((r) => r.address)
 
 /**
diff --git a/scripts/logtail-smoke.ts b/scripts/logtail-smoke.ts
new file mode 100644
index 0000000..a905c40
--- /dev/null
+++ b/scripts/logtail-smoke.ts
@@ -0,0 +1,27 @@
+// Proves the event-tail signal on Robinhood Chain: one eth_getLogs over the
+// last SPAN blocks surfaces every pool that traded, grouped by event.
+// Run: npm run smoke:logtail
+import { numberToHex } from 'viem'
+import { pc } from '../indexer/rpc'
+import { TOPICS } from '../indexer/logtail'
+
+const SPAN = 1_500
+const NAMES = ['v2 Sync', 'v3 Swap', 'v3 Mint', 'v3 Burn']
+
+const head = Number(await pc.getBlockNumber())
+const from = head - SPAN + 1
+const logs = (await pc.request({
+  method: 'eth_getLogs',
+  params: [{ fromBlock: numberToHex(from), toBlock: numberToHex(head), topics: [TOPICS] }],
+})) as { address: string; topics: string[] }[]
+
+const pools = new Set<string>()
+const byTopic = new Map<string, number>()
+for (const l of logs) {
+  pools.add(l.address.toLowerCase())
+  byTopic.set(l.topics[0], (byTopic.get(l.topics[0]) ?? 0) + 1)
+}
+
+console.log(`blocks ${from}-${head} (${SPAN}): ${logs.length} logs, ${pools.size} distinct pools`)
+TOPICS.forEach((t, i) => console.log(`  ${NAMES[i].padEnd(8)} ${byTopic.get(t) ?? 0}`))
+console.log('sample pools:', [...pools].slice(0, 8).join(' '))
diff --git a/src/lib/poolStatFallback.test.ts b/src/lib/poolStatFallback.test.ts
new file mode 100644
index 0000000..11cbae0
--- /dev/null
+++ b/src/lib/poolStatFallback.test.ts
@@ -0,0 +1,36 @@
+import assert from 'node:assert/strict'
+import test from 'node:test'
+import type { PoolStat } from './poolstats'
+import { poolStatWithFallback } from './poolStatFallback'
+
+const fallback: PoolStat = {
+  vol24hUsd: 130_000,
+  liqUsd: 900_000,
+  source: 'dexscreener',
+}
+
+test('fills missing volume without replacing chain liquidity', () => {
+  const primary: PoolStat = { vol24hUsd: null, liqUsd: 1_000_000, source: 'chain' }
+
+  assert.deepEqual(poolStatWithFallback(primary, fallback), {
+    vol24hUsd: 130_000,
+    liqUsd: 1_000_000,
+    source: 'dexscreener',
+  })
+})
+
+test('preserves valid zero volume and only fills missing liquidity', () => {
+  const primary: PoolStat = { vol24hUsd: 0, liqUsd: null, source: 'chain' }
+
+  assert.deepEqual(poolStatWithFallback(primary, fallback), {
+    vol24hUsd: 0,
+    liqUsd: 900_000,
+    source: 'chain',
+  })
+})
+
+test('uses whichever complete stat is available', () => {
+  assert.equal(poolStatWithFallback(undefined, undefined), undefined)
+  assert.equal(poolStatWithFallback(fallback, undefined), fallback)
+  assert.equal(poolStatWithFallback(undefined, fallback), fallback)
+})
diff --git a/src/lib/poolStatFallback.ts b/src/lib/poolStatFallback.ts
new file mode 100644
index 0000000..b16eeec
--- /dev/null
+++ b/src/lib/poolStatFallback.ts
@@ -0,0 +1,10 @@
+import type { PoolStat } from './poolstats'
+
+export function poolStatWithFallback(primary?: PoolStat, fallback?: PoolStat): PoolStat | undefined {
+  if (!primary || !fallback) return primary ?? fallback
+  return {
+    vol24hUsd: primary.vol24hUsd ?? fallback.vol24hUsd,
+    liqUsd: primary.liqUsd ?? fallback.liqUsd,
+    source: primary.vol24hUsd == null && fallback.vol24hUsd != null ? fallback.source : primary.source,
+  }
+}
diff --git a/src/lib/poolstats.ts b/src/lib/poolstats.ts
index 7df6aff..bae294f 100644
--- a/src/lib/poolstats.ts
+++ b/src/lib/poolstats.ts
@@ -5,6 +5,7 @@
 //            side (≈$) or the WETH side × WETH price derived from DexScreener.
 import { ADDR } from '../config/addresses'
 import { ENV } from '../config/env'
+import { pickDsTokenUsd, type DsPair } from './tokenPrice'
 import type { Pool, V2Pool } from '../types'
 
 export type PoolStat = {
@@ -15,9 +16,8 @@ export type PoolStat = {
 
 // in same-origin proxy mode (server deploys) these route through nginx so
 // users behind restrictive networks keep TVL/volume/USD features
-const DS_BASE = ENV.proxied
-  ? '/dexscreener/latest/dex/pairs/robinhood/'
-  : 'https://api.dexscreener.com/latest/dex/pairs/robinhood/'
+const DS_ROOT = ENV.proxied ? '/dexscreener' : 'https://api.dexscreener.com'
+const DS_BASE = DS_ROOT + '/latest/dex/pairs/robinhood/'
 const V2_SUBGRAPH =
   (ENV.proxied ? '/goldsky' : 'https://api.goldsky.com') +
   '/api/public/project_cmhef02640198x7p2cz2w70u8/subgraphs/up-robinhood-v2-mainnet/0.1.0/gn'
@@ -25,7 +25,7 @@ const V2_SUBGRAPH =
 const WETH = ADDR.WETH.toLowerCase()
 const USDG = ADDR.USDG.toLowerCase()
 
-async function fetchDexscreener(
+export async function fetchDexscreener(
   addrs: string[],
 ): Promise<{ stats: Record<string, PoolStat>; wethUsd: number | null }> {
   const stats: Record<string, PoolStat> = {}
@@ -56,6 +56,17 @@ async function fetchDexscreener(
   return { stats, wethUsd }
 }
 
+/** venue USD price of a token — its most-liquid robinhood pair on dexscreener
+ *  (see tokenPrice.ts for why aggregator unit-quotes are not used) */
+export async function fetchDsTokenUsd(token: string, signal?: AbortSignal): Promise<number> {
+  const r = await fetch(`${DS_ROOT}/latest/dex/tokens/${token}`, { signal })
+  if (!r.ok) throw new Error(`dexscreener ${r.status}`)
+  const j = (await r.json()) as { pairs?: DsPair[] }
+  const price = pickDsTokenUsd(j?.pairs ?? [], token)
+  if (price === null) throw new Error('no liquid dexscreener pair prices this token')
+  return price
+}
+
 async function fetchV2Subgraph(
   v2Pools: V2Pool[],
   wethUsd: number | null,
diff --git a/src/lib/tokenPrice.test.ts b/src/lib/tokenPrice.test.ts
new file mode 100644
index 0000000..bb002a9
--- /dev/null
+++ b/src/lib/tokenPrice.test.ts
@@ -0,0 +1,72 @@
+import assert from 'node:assert/strict'
+import test from 'node:test'
+import { pickDsTokenUsd, type DsPair } from './tokenPrice'
+
+const UP = '0x57C0E45cB534413D1C20A4240955d6bB250BB4F1'
+const WETH = '0x0Bd7D308f8E1639FAb988df18A8011f41EAcAD73'
+
+// shaped like the live dexscreener rows that motivated this module: two deep
+// UP/WETH pools around $0.140 and an $8-liquidity v4 pool marked $0.1585
+const pairs: DsPair[] = [
+  {
+    chainId: 'robinhood',
+    priceUsd: '0.1405',
+    priceNative: '0.00007610',
+    liquidity: { usd: 277107 },
+    baseToken: { address: UP },
+    quoteToken: { address: WETH },
+  },
+  {
+    chainId: 'robinhood',
+    priceUsd: '0.1402',
+    priceNative: '0.00007595',
+    liquidity: { usd: 247016 },
+    baseToken: { address: UP },
+    quoteToken: { address: WETH },
+  },
+  {
+    chainId: 'robinhood',
+    priceUsd: '0.1585',
+    liquidity: { usd: 8.25 },
+    baseToken: { address: UP },
+    quoteToken: { address: WETH },
+  },
+  // same token on another chain must never leak in
+  {
+    chainId: 'base',
+    priceUsd: '9.99',
+    liquidity: { usd: 5_000_000 },
+    baseToken: { address: UP },
+    quoteToken: { address: WETH },
+  },
+]
+
+test('prices from the most-liquid robinhood pair, not the best-looking mid', () => {
+  assert.equal(pickDsTokenUsd(pairs, UP), 0.1405)
+  // case-insensitive address match
+  assert.equal(pickDsTokenUsd(pairs, UP.toLowerCase()), 0.1405)
+})
+
+test('quote-side tokens derive USD via priceUsd / priceNative', () => {
+  const weth = pickDsTokenUsd(pairs, WETH)
+  assert.ok(weth !== null && Math.abs(weth - 0.1405 / 0.0000761) < 0.01)
+})
+
+test('dust pools below the liquidity floor never price a token', () => {
+  const dustOnly = pairs.filter((p) => Number(p.liquidity?.usd) < 100)
+  assert.equal(pickDsTokenUsd(dustOnly, UP), null)
+})
+
+test('tolerates garbage rows without throwing', () => {
+  const garbage: DsPair[] = [
+    {},
+    { chainId: 'robinhood' },
+    { chainId: 'robinhood', liquidity: { usd: 'nope' }, baseToken: { address: UP }, priceUsd: '1' },
+    { chainId: 'robinhood', liquidity: { usd: 5000 }, baseToken: { address: UP }, priceUsd: '0' },
+    // quote-side without priceNative cannot derive — must be skipped
+    { chainId: 'robinhood', liquidity: { usd: 5000 }, quoteToken: { address: WETH }, priceUsd: '0.14' },
+  ]
+  assert.equal(pickDsTokenUsd(garbage, UP), null)
+  assert.equal(pickDsTokenUsd(garbage, WETH), null)
+  assert.equal(pickDsTokenUsd([], UP), null)
+})
diff --git a/src/lib/tokenPrice.ts b/src/lib/tokenPrice.ts
new file mode 100644
index 0000000..5eff575
--- /dev/null
+++ b/src/lib/tokenPrice.ts
@@ -0,0 +1,38 @@
+// Venue USD pricing from dexscreener pair rows (pure — fetch lives in poolstats).
+// Why not an aggregator unit-quote: selling 1 token routes through whichever
+// venue shows the best mid, and on a thin chain that is systematically a stale
+// dust pool nobody arbitrages (measured on UP: kyber $0.150 via an $8-liquidity
+// v4 pool vs $0.140 on the two $250k pools). Every token except ETH ran high.
+// The most-liquid pair's trade-derived price is the honest mark.
+
+export type DsPair = {
+  chainId?: string
+  priceUsd?: string | number
+  priceNative?: string | number
+  liquidity?: { usd?: number | string }
+  baseToken?: { address?: string }
+  quoteToken?: { address?: string }
+}
+
+/** dust pools sit at stale prices — never price a token off one */
+export const DS_MIN_LIQ_USD = 100
+
+/** USD price of `token` from its most-liquid robinhood pair, or null when no
+ *  pair above the dust floor prices it. Quote-side tokens derive via
+ *  priceUsd / priceNative (USD per quote unit). */
+export function pickDsTokenUsd(pairs: DsPair[], token: string): number | null {
+  const t = token.toLowerCase()
+  let best: { liq: number; price: number } | null = null
+  for (const p of pairs) {
+    if (p?.chainId !== 'robinhood') continue
+    const liq = Number(p?.liquidity?.usd)
+    if (!Number.isFinite(liq) || liq < DS_MIN_LIQ_USD) continue
+    const pu = Number(p?.priceUsd)
+    const pn = Number(p?.priceNative)
+    let price: number | null = null
+    if (p?.baseToken?.address?.toLowerCase() === t && pu > 0) price = pu
+    else if (p?.quoteToken?.address?.toLowerCase() === t && pu > 0 && pn > 0) price = pu / pn
+    if (price !== null && (!best || liq > best.liq)) best = { liq, price }
+  }
+  return best?.price ?? null
+}