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

# Trading on InkyPump

> How to trade V2 tokens on the bonding curve and on the post-bond Uniswap V4 pool.

<Note>
  All new tokens on InkyPump are V2. V2 tokens trade in two phases: on the bonding curve while they raise their target, and on a Uniswap V4 pool after they bond. For trading the older V1 tokens, see [Legacy](/legacy/overview).
</Note>

## Two phases of trading

| Phase | Where it happens                   | Fee         | Counterparty                        |
| ----- | ---------------------------------- | ----------- | ----------------------------------- |
| Curve | InkyPump V2 hook (`buy` / `sell`)  | 2 percent   | The bonding curve                   |
| Pool  | Uniswap V4 pool with InkyPump hook | 0.1 percent | Other traders and the pool reserves |

A token starts in the curve phase and moves to the pool phase when it raises its target ETH. The InkyPump UI shows both phases through the same trade page and the same Buy / Sell buttons. The contract calls underneath are different.

## Curve phase

While a token is on the curve, the price moves along the linear bonding curve set at launch. Every buy moves the price up. Every sell moves it down. The 2 percent trade fee is taken from the ETH side of every trade.

You trade by calling `buy` or `sell` on the InkyPump V2 hook. The UI handles this for you.

See [Buy and Sell](/trading/swap-tokens) for the inputs and how the preview works.

## Bond event

When the cumulative raise reaches the target, the next buy that pushes it over the line triggers the bond. The contract automatically creates the V4 pool, seeds it with the raised ETH and the liquidity portion of the token supply, and routes future trades to the pool. This happens in a single transaction.

There is no creator action required at bonding. It is automatic.

## Pool phase

After bonding, the token trades on a Uniswap V4 pool. The pool fee is 0.1 percent. The 2 percent curve fee no longer applies. Swaps happen through the Uniswap Universal Router. The InkyPump UI keeps the same trade page, but underneath it now routes through the router and the V4 pool.

See [Post-Bond Pool](/trading/post-bond-pool) for how the pool works and how to swap against it.

## What you pay in fees

| Phase | Fee                                     | Goes to                                                 |
| ----- | --------------------------------------- | ------------------------------------------------------- |
| Curve | 1 percent protocol + 1 percent variable | Treasury, creator, buyback (depending on creator split) |
| Pool  | 0.1 percent                             | Routes through the hook to creator and buyback          |

Both phases pay gas for the transaction on top of the trade fee.

## What you need

* A wallet on Ink mainnet
* ETH for gas
* ETH to buy with, or tokens to sell from

## Trade flow

<Steps>
  <Step title="Open the token's trade page">
    Go to `inkypump.com/trade/<token-address>` or click the token from the home page.
  </Step>

  <Step title="Choose Buy or Sell">
    The trade box has a tab for each. Enter the amount.
  </Step>

  <Step title="Check the preview">
    The box shows expected tokens out (on buy) or expected ETH out (on sell), the fee, and the price impact.
  </Step>

  <Step title="Set slippage if you want">
    Default slippage is set in the app. You can tighten or loosen it before confirming. See [Slippage](/trading/slippage).
  </Step>

  <Step title="Confirm the transaction">
    Sign in your wallet. The trade lands in the next block.
  </Step>
</Steps>

## Learn more

<CardGroup cols={2}>
  <Card title="Buy and Sell" icon="arrows-rotate" href="/trading/swap-tokens">
    Inputs, previews, what each value means.
  </Card>

  <Card title="Slippage" icon="percent" href="/trading/slippage">
    minTokensOut and minEthOut, default values, when to tighten.
  </Card>

  <Card title="Post-Bond Pool" icon="droplet" href="/trading/post-bond-pool">
    How V4 pool trading works after bonding.
  </Card>

  <Card title="Vision" icon="eye" href="/trading/vision">
    Browse all tokens and filter by status.
  </Card>
</CardGroup>