> For the complete documentation index, see [llms.txt](https://docs.tessera.pe/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tessera.pe/features/trade.md).

# Trade

{% hint style="info" %}
**Disclaimer:** This article provides general information to help explain Tessera's Terms and Conditions in simpler language. It is for informational purposes only and should not be relied upon as legal, financial, investment, or tax advice. T-Tokens represent loan participation rights, not securities, though regulatory treatment may vary by jurisdiction. This is not a substitute for the official Terms and Conditions at [https://terms.tessera.pe](https://terms.tessera.pe/), which shall prevail in all respects in case of any discrepancy. These materials are not directed to persons in jurisdictions where such activity would be unlawful. Before using Tessera, you must read and accept the complete Terms and Conditions and consult your own legal, financial, and tax advisors.
{% endhint %}

<figure><img src="https://1743948248-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F0ee7CteO3eXoVCpJ37op%2Fuploads%2Fvgawwxwz9F4V4lTWpZWK%2FTrade.png?alt=media&amp;token=d195de86-270a-4915-88a4-e453a6f469b2" alt=""><figcaption></figcaption></figure>

T-Tokens are SPL Token-2022 tokens on Solana, which can be traded on supported Solana DEXs and aggregators like Jupiter and Meteora, provided you have the token address (which can be found on the 'Market Data' page)

Any transactions that involve T-Tokens will be shown here, even though the trades are routed to and settled on third-party venues.

There would be several supported DeFi operation types for 'Trade':

* Buy
* Sell

For more complete information on every single operation, visit your 'Dashboard' page.

Clicking on the specific row opens the Solscan history which you can check the transaction on-chain.

{% hint style="info" %}
Tessera does not operate its own exchange or market-making venue. Other than [Redemption](/features/redemption.md), buy and sell actions are facilitated through third-party DEX routing on Solana, with primary liquidity on Meteora. Trades settle on those venues, not on Tessera.

Transaction fees may apply when tokens are transferred.
{% endhint %}