Buy and sell PT and YT

Buying PT is buying the token’s price with the dividends stripped out. Buying YT is buying the dividends with the price stripped out. Selling either side returns USDG at the current market price and closes that much of the position.

The ticket, step by step#

1. 1

   Choose Buy or Sell

   The ticket reprices instantly. Nothing is committed by looking at it.
2. 2

   Choose the exposure

   Token value is PT. Cash dividends is YT. The two cards preview what each outcome actually means before you pick one.
3. 3

   Pick the maturity

   Each date is its own market with its own price and its own depth. See Maturities.
4. 4

   Enter an amount and review

   The review dialog shows price, estimated units received, route and fees. A filled order lands in your positions and trade history immediately.

Looping from the ticket#

Buying PT can be looped from the same ticket. The loop toggle appears under the exposure cards whenever Token value is selected, and it is disabled in markets where the borrow rate exceeds the fixed return — where leverage would subtract rather than add. See PT looping.