# Trading

Use **Buy** and **Sell** on a token’s Rearctor page before and after graduation. Before ignition, orders use its launch curve. After ignition, orders use that same token’s canonical Rearctor V4 pool and original fee hook. The app does not redirect you to a different market.

## Place an order

1. Find the token with search and check its contract address.
2. Choose **Buy** to spend USDC, or **Sell** to spend the token.
3. Enter an amount or choose **25%, 50%, 75% or 100%** (Max) of your available balance, then wait for a quote. Buy percentages keep an estimated USDC reserve for network fees; Sell 100% uses the complete token balance. Review the output estimate, fee and **Minimum received**.
4. Set your slippage tolerance. The form accepts **0.1%–10%** and starts at **1%**.
5. Connect your wallet if needed, then select the trade button and review any approval and transaction requests.

An estimate is not a completed trade. Execution must satisfy the transaction’s minimum output and deadline. Low liquidity, insufficient balance, changed prices, gas requirements or token-transfer restrictions can prevent execution.

## Quotes and slippage

The live quote verifies the registered pool, token pair, PoolManager and Rearctor hook at a current block. It reads whether graduation has actually occurred, so an older indexed “Charging” snapshot does not keep the quote on the curve after migration.

When the app needs a new allowance, it requests approval for the entered amount. It may first reset an insufficient existing allowance to zero. A sufficient existing allowance does not need another approval.

After approval handling, the app obtains a fresh quote before preparing the trade. It preserves the minimum output you originally accepted. If the price improves, it can raise that minimum using your original slippage tolerance; if the new quote is below the original minimum, it stops and asks for a new quote. It never silently widens slippage to complete an order.

The transaction has a **two-minute deadline**. Delaying a wallet confirmation can cause expiry. Requote rather than assuming an old estimate is still available.

## Understand the fee asset

Buy and sell rates are fixed independently for each token at launch.

| Market | Buy fee | Sell fee |
| --- | --- | --- |
| Launch curve | USDC, deducted from the buy input | USDC, deducted from the gross sell proceeds |
| Rearctor V4 pool | USDC, the input asset | Project token, the input asset |

The V4 fee amount shown by the form is an estimate. The original hook applies the directional fee to this pool; any Uniswap protocol charge is taken into account before earned LP fees reach the vault. Ordinary token transfers have no transfer tax. Other independently created pools are outside this hook’s scope.

Network gas is separate from the displayed trading fee.

## The trade that reaches ignition

The final curve buy is capped at the remaining capacity needed to reach **5,042 USDC in net reserves**. Unused USDC is returned to the payer. The same transaction migrates liquidity into V4, so its gas cost can be higher than an ordinary trade. The app reserves additional gas headroom for curve buys, but the wallet’s estimate is not a fixed cost guarantee.

If migration cannot complete, the whole transaction reverts. There is no saved state in which the curve has reached its target but waits for a separate graduation transaction.

## Read chart and transaction data

The execution-price chart divides the USDC paid or received by the tokens received or paid, including swap fees. It includes confirmed curve trades and swaps through the token’s V4 pool, including other routers. The displayed actor can therefore be a router rather than the end user.

“Available” means the history loaded into the page, not necessarily the token’s full lifetime. Coverage and truncation are displayed. The **Launchpad volume** counter covers trades recorded through the Rearctor pool contract; direct swaps through other V4 routers are not included in that counter.

See [getting started](/docs/getting-started/) for wallet and index status, or [buyback and burn](/docs/buyback-and-burn/) for fee destinations.