> For the complete documentation index, see [llms.txt](https://docs.pawtato.gg/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.pawtato.gg/pawtato-land/gameplay/marketplace-and-exchange/exchange.md).

# Exchange

The **Exchange** is Pawtato Land's resource order-book. Where the [Marketplace](/pawtato-land/gameplay/marketplace-and-exchange/marketplace.md) handles one-of-a-kind items, the Exchange is for **fungible resources** — the wood, ore, gems, essences and crafted materials you gather and produce. Every resource trades against **TATO**, and orders from all players sit on a shared, live order-book.

{% hint style="info" %}
📍 **Jump in:** [Open the Exchange in Pawtato Land](https://pawtato.gg/?mp=1) (it lives inside the Marketplace, under **Resources**).
{% endhint %}

You reach the Exchange from the **Marketplace** window: open it from the action bar and choose the **Resources** category (there's a **Resources** card on the Overview screen). Pick which resource to trade from the resource selector; each resource has its own **Resource/TATO** order-book.

{% hint style="info" %}
Almost every in-game resource can be traded on the Exchange. TATO itself is the currency you trade against, and Divine Favor Tokens are not tradable here. A few resources trade in whole units only — for those, the amount field accepts integers.
{% endhint %}

## The trading terminal

On desktop the terminal has a **Trade** panel (the order form) alongside the **Orderbook** and **Recent Trades**, with your **My Open Orders** and **My Trades** below.

### The order form

1. Choose **Buy** or **Sell**.
2. Choose the order kind:
   * **Market** — fills immediately at the best available prices. The **Expected Output** box shows the total TATO needed (or received), the average price and the fee.
   * **Limit** — rests on the order-book at a price you choose until it's matched.
3. For a **Limit** order, set the **Price (TATO per …)**, or click **Best price** to auto-fill the current best bid/ask.
4. Enter the **Amount**. When selling, click your shown balance to fill the maximum.
5. Review the **Total** (limit) or **Expected Output** (market) and the fee line, then click the **Buy …** / **Sell …** button and confirm.

{% hint style="info" %}
Tick the **Post-Only** box on a limit order to guarantee it joins the book as a resting (maker) order for the lower fee — if it would fill immediately instead, it's cancelled rather than charged the higher fee.
{% endhint %}

### Order-book and trades

* **Orderbook** — sell orders (asks) on top, buy orders (bids) below, with the current **Spread** between them and the **Last** traded price. Use **Group** to change how finely prices are bucketed. Clicking any price level drops it into the order form as a limit order.
* **Recent Trades** — the latest fills for the selected resource.
* **My Open Orders** — your resting orders; **Edit** the price of a pending order or **Cancel** it.
* **My Trades** — your own completed fills.

An **Activity** view in the Marketplace shows your full trade history across all resources, and per-order status of **Open**, **Filled** or **Cancelled**.

{% hint style="info" %}
You're **notified** as your limit orders fill — including each **partial fill** as it happens, not just when the order completes. You can turn these order-fill notifications off in your **Pawtato Land notification settings**.
{% endhint %}

## Fees on the Exchange

Two fee tiers apply, both shown live in the order form before you confirm:

* A **maker fee** on limit orders that rest on the book and add liquidity.
* A higher **taker fee** on orders that fill immediately and remove liquidity.

{% hint style="info" %}
The **Manyfold Market** Powerup grants a **50% reduction** on both the maker and taker Exchange fees. When you own it, the fee line shows a **-50% Manyfold Market** tag; if you don't, a **Decrease Fee** link takes you to the Powerup. See [Bank of Axoma](/pawtato-land/gameplay/bank-of-axoma.md).
{% endhint %}

## Convert — swap one resource for another

**Convert** (a section in the same Marketplace window) turns one resource directly into another in a single step. Under the hood it routes through TATO — selling what you offer and buying what you want — so it's a quick alternative to placing two separate market orders.

### How to Convert (step by step)

1. Open the **Marketplace** and choose **Convert**.
2. In **You offer**, pick the resource you're giving up and set the amount — use the percentage buttons to fill a share of your balance.
3. In **You receive**, pick the resource you want. You can type into either field; the other side updates automatically from the live order-book.
4. Use the swap button between the two fields to flip the direction if needed.
5. Check the **Exchange Rate** shown, then click **Convert … to …** and confirm.

{% hint style="warning" %}
Convert depends on live order-book liquidity. If there aren't enough orders to complete the trade at the current price, you'll see an **Insufficient Liquidity in Orderbook** message — try a smaller amount or place limit orders instead.
{% endhint %}