> ## Documentation Index > Fetch the complete documentation index at: https://docs.windrose.market/llms.txt > Use this file to discover all available pages before exploring further. # Trading > Buying and selling on the curve: paying in the launch currency or the dollar, reading a quote, slippage, approvals, and what changes after graduation. Every token page has a trade panel on the right. While the launch is on its curve the panel buys and sells against the curve through the router. After graduation it closes, and trading moves to Uniswap v4. ## Buy and sell Choose **Buy** or **Sell** at the top of the panel. On a buy you type what you pay; on a sell you type how many tokens you sell. Percentage chips fill in a share of your balance, and the balance line itself sets the maximum. The quote below the amount refreshes every few seconds from the chain and shows: | Line | Meaning | | ---------------- | ---------------------------------------------------------------------------------------------- | | You receive | Tokens on a buy; currency or dollars on a sell | | Spent on curve | On a buy, the currency the curve actually takes, fee included | | Minted via vault | On a dollar-paid buy of a Windrose-currency launch, how much currency the vault minted for you | | Price impact | How far your average price sits from the current spot price; shown in red above 5% | | Trading fee | 1% of the curve trade | | Min. received | The least you accept at your slippage tolerance; the transaction reverts below it | If a buy would fill the curve, the panel says so: the curve takes exactly what it needs, marks itself ready, and the unused part of your payment comes back in the same transaction. See [Graduation](/concepts/graduation). ## What you pay with The launch currency is the default. Where the launch is quoted decides what else is possible: * **Dollar launches** settle in the dollar. You pay and receive the dollar directly, with no vault or oracle in the path. * **Real-stablecoin launches** (EUR on Arc testnet, quoted in EURC) settle in that stablecoin. You must hold it; there is no routing from the dollar. * **Windrose-currency launches** settle in the currency coin, wINR for instance. Pay with wINR you already hold, or press **Pay with USDG instead** to pay with the dollar. The router then mints wINR from the vault at the oracle rate and buys in one transaction; the quote shows the routed path and the amount minted. Selling works the same way in reverse: **Get USDG instead** redeems the currency you receive back into dollars inside the same transaction. Paying with the dollar costs the vault's mint fee (0.3%, or 1% while the rate is stale) on top of the trading fee; the quote already includes it. If you hold none of the currency coin the panel offers a **Get wINR** link to its page, where you can mint some. See [Currencies and minting](/guide/currencies-and-minting). You can type the amount in either unit when paying with the dollar; the line under the input shows the conversion at the oracle rate. ## Slippage Every trade moves the price, so a quote is only a prediction until your transaction lands. The **Slippage** control sets how much worse than the quote you accept: presets of 0.5%, 1% and 3%, or a custom percentage up to 50%. The default is 1%. If the execution would deliver less than the minimum, the transaction reverts and you pay only gas. Larger trades on a young curve move the price more, which is what **price impact** measures. Slippage tolerance is about other people's trades landing before yours; price impact is about your own trade's size. Both are shown before you sign. Router calls carry a ten-minute deadline. A transaction that sits unconfirmed longer than that reverts rather than executing on a stale quote. ## Approvals The router is the only contract you approve. The first buy in a given asset asks for an approval of the router to spend it (the dollar or the currency coin); the first sell asks for an approval of the router to spend the token. The app checks your existing allowance and skips the approval when it is already enough. After that, each trade is a single signature. Redeeming through the vault needs no approval: the vault burns coins straight from the router's balance, and minting only needs the dollar approval already granted to the router. ## Balances and errors * **Insufficient funds** appears when the amount exceeds your balance of the asset you are paying with. On Robinhood testnet a **Get test USDG** button appears beneath it. * A quote of zero means the amount is too small to move the curve; increase it. * If the wallet is on another network the panel is disabled until you switch. The top-bar hint switches it for you. * Transaction errors are shown under the button with the reason the chain gave. ## After graduation Once the curve is filled the panel reads **Curve closed**. If graduation has not happened yet, a **Graduate now** button on the progress card lets anyone finish it. Once graduated, the token trades on Uniswap v4 against its quote asset in a 0.3% pool, and the token page shows the pool price and pool swaps in its trade list. Use a Uniswap v4 interface or router to trade there; for a Windrose-currency launch you need the currency coin, not the dollar. ## Chart, trades and holders The candle chart (1-minute and 1-hour intervals), the **Trades** tab, the **Holders** tab, volume and holder count come from the network's indexer. Prices, quotes and balances always come straight from the chain. When the indexer is unreachable the page shows **indexer offline** in those panels; trading is unaffected. The indexer's data is available to anyone through the [API](/api). ## Reading the page * **Curve price** is the spot price after the last trade, in the launch currency, with dollar and display-currency equivalents beneath it. * **Raised** and **Target** show progress towards graduation in the launch currency and in dollars. * The **Details** card lists the currency, quote asset, token, curve and vault addresses with explorer links, the trading fee and the supply split. * The **Creator fees** card is visible only to the launch's creator.