Trading on Pluto

How do I buy an asset?

1. Find and open the asset.
2. Select Buy.
3. Enter the amount of Cash you want to use.
4. Review the quote, 0.45% platform fee, blockchain fees, price impact and expected asset amount.
5. Authorize the transaction through your wallet.

When the transaction completes, the selected amount of Cash is exchanged for the asset and the asset appears in your wallet.

How do I sell an asset?

1. Open the asset in your holdings.
2. Select Sell.
3. Enter the amount you want to sell.
4. Review the quote, fees, price impact and expected Cash amount.
5. Authorize the transaction through your wallet.

When the transaction completes, the asset is exchanged into USDC and the proceeds appear in your wallet as Cash.

How do trades work?

When you buy, Pluto obtains an available on-chain route from Cash (USDC) to the selected asset through Jupiter. When you sell, Pluto obtains a route from the selected asset back into Cash.

You review the transaction details and authorize the transaction through your wallet. The transaction is then submitted to Solana and executes against available decentralized liquidity.

What is Jupiter?

Jupiter is a Solana liquidity aggregator.

It searches supported liquidity sources and identifies available routes for token swaps. Jupiter may divide or route a transaction across different liquidity pools.

Does Pluto act as the buyer or seller?

No. Pluto is not the counterparty to your trade.

Your wallet interacts with decentralized protocols and liquidity sources through an on-chain transaction.

What is a decentralized exchange?

A decentralized exchange, or DEX, is a blockchain-based protocol that enables users to trade digital assets using smart contracts and on-chain liquidity.

Users generally trade from their own wallets rather than depositing assets into an account controlled by the exchange.

What is a liquidity pool?

A liquidity pool is a collection of digital assets held in a smart contract and used to facilitate trades.

Available liquidity affects the size, price impact and execution quality of a transaction.

What is an automated market maker?

An automated market maker, or AMM, is a type of decentralized protocol that uses a mathematical formula and liquidity pools to determine trading prices.

The resulting price can change as users buy or sell against the pool.

Why did the price change before I confirmed?

Digital-asset prices can change rapidly.

A quote may change because of:

• Other market activity
• Changes in available liquidity
• The size of your transaction
• Network delays
• The previous quote expiring

Always review the latest transaction details before authorization.

What is slippage?

Slippage is the difference between the expected transaction price and the price at which the trade executes.

Slippage can increase during periods of volatility or when an asset has limited liquidity.

What is slippage tolerance?

Slippage tolerance is the maximum price movement a transaction will accept before it fails.

A lower tolerance may protect against unexpected price movement but can make the transaction more likely to fail. A higher tolerance may increase the chance of execution but may produce a less favourable result.

What is price impact?

Price impact is the effect your transaction may have on the market price available within the liquidity pool. Larger trades and assets with lower liquidity generally have greater price impact.

Why did I receive a different amount than expected?

On a buy, the final asset amount may differ from the initial estimate. On a sell, the final Cash amount may differ from the initial estimate because of:

• Price movement
• Slippage
• Price impact
• The 0.45% platform fee and applicable blockchain fees
• The route used to complete the transaction

The final asset or Cash amount is recorded in the confirmed on-chain transaction.

Can a completed trade be reversed?

No. Confirmed blockchain transactions are generally irreversible.

Pluto cannot cancel, reverse or amend a trade after it has been confirmed on Solana.

Why did my transaction fail?

Transactions may fail because of:

• An expired quote
• Rapid price movement
• Insufficient balance
• Insufficient liquidity
• Slippage tolerance
• Network congestion
• A blockchain or smart-contract error
• The transaction taking too long to authorize

Refresh the quote, confirm your available balance and try again.

Will I lose the trade amount if the transaction fails?

A failed swap does not normally complete the exchange. A failed buy will normally leave the Cash in your wallet, while a failed sell will normally leave the asset in your wallet.

However, blockchain-related costs may still be incurred or sponsored for the transaction attempt.

Why can’t I sell a token?

You may be unable to sell a token into Cash because:

• The token has insufficient liquidity
• The available route into USDC cannot support the amount
• The token includes restrictive or malicious functionality
• The quoted price moved beyond the allowed tolerance
• Jupiter cannot find a valid route
• Trading has been disabled because of a security or technical concern

A token being purchasable does not guarantee that it will always remain sellable into Cash.