Trade PT

You can trade PT instantly on Yield Forge's built-in AMM. No need to mint or redeem — just swap.

Buying PT

Buying PT at a discount is how you lock in a fixed yield.

1. Go to Markets and select the market you want
2. Select the Buy tab
3. Enter how much quote token (e.g., USDC) you want to spend — or how much PT you want to get
4. Review the trade details:
   • Price — cost per 1 PT (e.g., $0.975)
   • Implied APY — the fixed return you're locking in
   • Price impact — how much your trade moves the market
5. Click Buy PT and confirm in your wallet

!TIP The bigger the discount on PT, the higher your fixed APY. Compare the implied rate across different markets to find the best deal.

Selling PT

Want to exit before maturity? Sell your PT for quote tokens.

1. Switch to the Sell tab on the market page
2. Enter how much PT you want to sell
3. Review the quote — you'll see exactly how much you'll receive
4. Click Sell PT and confirm

You'll receive quote tokens (e.g., USDC) immediately. Note that you'll sell at a slight discount compared to waiting for full maturity.

Things to Keep in Mind

• Slippage depends on market depth. Larger trades have more price impact
• Swap fees range from 0.10% to 0.50%, depending on time to maturity
• Market must be active — someone needs to have provided LP first. Markets start in "Pending" until the first LP sets the price