> For the complete documentation index, see [llms.txt](https://perps.gitbook.io/perps./llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://perps.gitbook.io/perps./overview/social-token-trading.md).

# Social Token Trading

Social token trading happens on creator-market pages.

## How It Works

* Users buy and sell creator tokens with testnet funds.
* Price changes according to the token's bonding curve.
* Market and activity data update as the app indexes on-chain events.
* The market may show lifecycle progress toward graduation.

## Buy and Sell

Buying increases your token exposure. Selling reduces your token exposure.

Before confirming a transaction, review:

* Token.
* Amount.
* Expected price.
* Slippage or received amount.
* Wallet/network prompt.

## Graduation Boundary

Near graduation, the market may have limited remaining curve capacity. The app and contracts are designed to handle boundary conditions so users do not intentionally buy more curve inventory than remains available.

## Market Metrics

User-facing metrics may include:

* Price.
* Market cap.
* Curve sold percentage.
* Graduation progress.
* Recent trades.
* Creator profile and social links.