> ## Documentation Index
> Fetch the complete documentation index at: https://docs.sendovex.com/llms.txt
> Use this file to discover all available pages before exploring further.

# How Trades Work

> A step-by-step walkthrough of a P2P trade on Sendovex from start to finish.

Every trade on Sendovex follows the same lifecycle, enforced by a smart contract escrow on Polygon.

## The parties

* **Buyer**: pays fiat (ETB) and receives crypto (USDT or USDC)
* **Merchant (Seller)**: lists the trade, provides crypto, receives fiat

## Step-by-step

<Steps>
  <Step title="Buyer selects a listing">
    The buyer browses the trade market and selects a merchant's listing. They see the exchange rate, minimum and maximum amounts, and accepted payment methods.
  </Step>

  <Step title="Trade is created">
    The buyer enters the amount they want to buy. A trade is created and the exchange rate is locked in at that moment. Rate changes after this point do not affect the trade.
  </Step>

  <Step title="Merchant locks crypto in escrow">
    The merchant receives a notification and deposits the exact crypto amount into the smart contract escrow. Until this step, no funds are at risk. The trade has a timeout window. If the merchant does not fund escrow in time, the trade expires.
  </Step>

  <Step title="Buyer sends fiat">
    With crypto locked in escrow, the buyer sends ETB to the merchant's bank account or mobile money number using the payment method shown in the app. They then tap **I've Sent Payment** in the app.
  </Step>

  <Step title="Merchant confirms receipt">
    The merchant checks their bank account and confirms the fiat arrived. They tap **Release**. The smart contract releases the crypto directly to the buyer's Sendovex Smart Wallet.
  </Step>

  <Step title="Trade complete">
    After the trade completes, both parties can leave feedback: a thumbs up or down, a star rating (1 to 5), and an optional comment. The trade is recorded permanently on-chain and in Sendovex's history.
  </Step>
</Steps>

## Important rules

* **Never mark fiat as sent until you have actually sent it.** False claims can result in account suspension.
* **Never release escrow until you have confirmed the fiat is in your account.** Screenshots can be faked. Check your actual bank balance.
* If there is a problem, use the **Dispute** button in the trade screen. Do not try to resolve issues outside the app.

## Trade chat

Every trade has a dedicated in-app chat between buyer and merchant. Use it to confirm payment details and communicate during the trade. Do not share sensitive information outside the app.