> For the complete documentation index, see [llms.txt](https://kix-2.gitbook.io/kix/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://kix-2.gitbook.io/kix/dats-digital-athlete-tokens/dats/buying-and-selling.md). # Buying & Selling DATs ## What You Use to Buy DATs All DAT purchases on KiX are made using $KIX — the platform's utility token. Before you buy your first DAT, you will need $KIX in your account. See the [Getting Your $KIX](/kix/getting-started/getting-started/getting-your-kix.md) section for how to acquire $KIX on external exchanges. ## How Pricing Works — The Live Pricing Mechanism (Summary) KiX does not use a traditional order book where buyers and sellers have to find each other. Instead, a **bonding curve** is used for pricing every footballer on KiX. Each footballer has their own dedicated liquidity pool — a reserve of $KIX that automatically buys back DATs for that footballer. There is zero co-mingling: one footballer's liquidity pool is separate and cannot be accessed by another footballer's trading activity. In plain terms: * When you buy a player's DAT, $KIX flows into their liquidity pool. More buyers = higher price. * When you sell, $KIX flows back out of the pool to you. More sellers = lower price. * Every trade settles instantly — no waiting, no matching, no order book. This is called the live pricing mechanism. It allows DAT prices to always be live, always responsive to the community, and always tradeable. There is never a moment when a player's DAT has no price. If you want the full technical breakdown — the mathematics behind the bonding curve, spread model, and liquidity mechanics — see [The Bonding Curve — Technical](/kix/dats-digital-athlete-tokens/dats/bonding-curve-technical.md). ## Market Risk > DAT prices are set entirely by traders — KiX never controls them. Prices can rise or fall based on demand. You can always sell your DAT, but the price you receive carries market risk and depends on conditions at the time. ## Guaranteed Liquidity — You Can Always Sell This is one of KiX's most important design principles, and it is worth saying clearly: **You are never trapped. You are never waiting for a buyer.** Most trading platforms — whether for stocks, collectibles, or anything else — require you to find a buyer. If nobody wants what you are selling, you are stuck. KiX works differently. The protocol always maintains $KIX reserves behind every footballer's price pool, so there is always a price to sell at, 24 hours a day, seven days a week. That said, always keep the market risk box above in mind: a guaranteed ability to sell does not mean a guaranteed price. What you receive depends on market conditions at the time. ## How to Buy a DAT 1. Go to the Market page 2. Find the footballer you want — browse or search by name 3. Click **Buy** on their card or detail page 4. Enter the quantity of DATs you want to purchase 5. Review the price and confirm 6. Your new DATs will appear in your Portfolio immediately ## How to Sell a DAT 1. Go to your Portfolio or anywhere else the footballer is listed within the platform (e.g. the Market) 2. Find the DAT you want to sell 3. Click **Sell** 4. Confirm the transaction 5. The $KIX will arrive in your account instantly > Note: Free DATs cannot be sold. Only Standard DATs can be bought and sold on the open market. Free DATs can only be swapped — see [Swapping DATs](/kix/dats-digital-athlete-tokens/dats/swapping-dats.md). ## Commission — 2% on Outright DAT Buys and Sells KiX charges a flat **2% commission** on all outright DAT buys and sells. This is small by design — frequent trading is part of the platform. The commission splits 80% to the current Game Group rewards pool, 10% to the next Game Group rewards pool, and 10% to the treasury. What we can say now: a meaningful share of every commission is designed to flow back into the Rewards Pool that pays out to active KiX participants — so the more active the market is, the larger the Rewards Pool for everyone. ## Slippage — What Happens with Large Orders If you are buying or selling a large number of DATs in one transaction, the price may shift slightly during the trade itself — because your own order is moving the pool. This is called slippage, and it is a normal feature of any live pricing system. KiX protects you from unexpected slippage in two ways: * **Price preview** — before you confirm, you see an accurate estimate of the price you are getting * **Partial fills** — if the price moves beyond your acceptable range during execution, the platform adjusts the quantity of DATs traded within the transaction rather than simply failing You are always in control of the price you accept. ## Total Value Locked (TVL) — The Depth of a Player's Pool Every footballer on KiX has a TVL — Total Value Locked — which represents the total amount of $KIX sitting in their price pool at any moment. Think of TVL like water depth in a swimming pool. The deeper the pool, the less a single stone disturbs the surface. * Higher TVL = more $KIX backing the pool = your trade has less impact on the price = more stable market * Lower TVL = smaller pool = individual trades can move the price more significantly TVL is shown on every player's detail page. It is a useful indicator of how liquid and stable a player's market is. *** *Next:* [*Swapping DATs*](/kix/dats-digital-athlete-tokens/dats/swapping-dats.md) *· For the full technical mechanics, see* [*The Bonding Curve — Technical*](/kix/dats-digital-athlete-tokens/dats/bonding-curve-technical.md)