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

# Trading Options

> The ways you can trade on Kash

<Note>
  Kash trading is straightforward: buy and sell outcome tokens against the AMM in the webapp, or — if you opt in — trade by tweeting. Everything settles in USDC on Base, gas-free.
</Note>

<img style={{ borderRadius: '0.5rem' }} className="block dark:hidden" src="https://mintcdn.com/kash/ccJqSmLmwHitLEdQ/assets/cover/cover.svg?fit=max&auto=format&n=ccJqSmLmwHitLEdQ&q=85&s=bd474b91f522088935255f33b33ddd96" alt="Hero Light" width="1500" height="500" data-path="assets/cover/cover.svg" />

<img style={{ borderRadius: '0.5rem' }} className="hidden dark:block" src="https://mintcdn.com/kash/ccJqSmLmwHitLEdQ/assets/cover/cover.svg?fit=max&auto=format&n=ccJqSmLmwHitLEdQ&q=85&s=bd474b91f522088935255f33b33ddd96" alt="Hero Dark" width="1500" height="500" data-path="assets/cover/cover.svg" />

# Trading in the Webapp

The primary way to trade is at [app.kash.bot](https://app.kash.bot): open any market, pick an outcome, enter an amount, and confirm.

<AccordionGroup>
  <Accordion title="Buying">
    Tap an outcome (e.g. **Buy Yes**) and enter your USDC amount. Before you confirm, the quote shows exactly what you're getting:

    * **You pay** — your USDC in, with the 1% protocol fee broken out
    * **You receive** — the number of outcome tokens minted to you
    * **Estimated payout if this outcome wins** — what those tokens would redeem for against the market reserve, based on the post-trade state
    * The market's **implied chance** after your trade

    Larger trades move the price more (ordinary AMM price impact), and every trade has on-chain slippage protection — it reverts rather than filling worse than your quoted minimum.
  </Accordion>

  <Accordion title="Selling">
    You can exit any position before the market freezes. The sell quote shows the gross AMM release, the 1% AMM sell fee (which stays in the market's reserve), the 1% protocol fee, and the **net USDC you receive**. Use it to lock in profits or cut losses without waiting for resolution.
  </Accordion>

  <Accordion title="Outcome Tokens (ERC-1155)">
    Positions are real on-chain assets: each market issues its outcomes as **ERC-1155 tokens** (one contract, a token ID per outcome), held by your own smart account. They are not fixed "\$1 if it wins" shares — winning tokens redeem pro-rata against the market's reserve, which is what the estimated-payout figure previews. Details in [Market Mechanics](/getting-started/features/market-mechanics).
  </Accordion>
</AccordionGroup>

# Tweet Trading (Opt-In)

Kash's companion X (Twitter) integration lets trading happen where the conversation is.

<Tabs>
  <Tab title="How It Works">
    Tweet-based trades are parsed from the text of your tweet — for example replying to a market posted by **Kash's dedicated trading account** with your side and amount. The trading account's handle cycles over time; the current one is always linked from the [@kash\_bot](https://x.com/kash_bot) profile. Kash reads the intent, executes the trade from your smart account, and confirms.

    Tweet trading is **opt-in**: connect and authorize your X account in **Settings → Trading bot** in the webapp. You can disconnect at any time, which revokes Kash's access to your account — your existing positions stay tradeable in the app.
  </Tab>

  <Tab title="Broadcasting Your Own Markets">
    If you create a market, the trading bot can broadcast it **from your own X handle**, and your followers can reply to trade on it. The bot is torn down automatically when your market ends. See [Creating Opportunities](/getting-started/guides/creating-opportunities).
  </Tab>
</Tabs>

<Warning>
  There are no X direct-message (DM) trading commands — trading via X works through public tweets with the opt-in trading bot only.
</Warning>

# Parlays

The [parlay builder](/getting-started/features/parlays) lets you back several crypto markets at once — pick **up or down** on each coin (BTC, ETH, SOL, and more), set your stake, and place the whole slip together.

<Note>
  Today, each leg of a parlay executes as an **independent trade** — one pick can win even if another loses. True single-ticket parlays, where all picks must hit for a combined payout, are coming soon.
</Note>

# Portfolio Management

<AccordionGroup>
  <Accordion title="Positions and P&L">
    Your [Portfolio](/getting-started/guides/winning) shows all open positions with live values and unrealized P\&L, plus a history of resolved and closed positions with realized P\&L. From any open position you can add to it or sell out of it.
  </Accordion>

  <Accordion title="Claiming Winnings">
    When a market resolves (or is cancelled), your payout becomes claimable directly from your portfolio — **Claim winnings** or **Claim refund**. Redemption executes from your own smart account; there is no redemption fee. On mainnet, claims may net a small gas cost in USDC out of the payout.
  </Accordion>
</AccordionGroup>

# What Powers It

* **Base network** — low-cost L2 execution
* **USDC** — the single trading and settlement currency
* **ERC-4337 smart accounts** — sponsored gas, so you never need ETH; session-key delegation means no wallet popup for every trade
* **Deterministic AMM** — every quote is verifiable on-chain; see the [Custom AMM](/getting-started/features/custom-amm) page

<Tip>
  Kash intentionally keeps the trading surface simple: market buys and sells against the AMM. There are no limit orders, leverage, or margin products — your maximum loss is always what you put in.
</Tip>

<CardGroup cols={2}>
  <Card title="Parlays" icon="layer-group" href="/getting-started/features/parlays">
    Multi-leg crypto up/down slips
  </Card>

  <Card title="Natural Language" icon="comment" href="/getting-started/features/natural-language">
    Create and trade with plain English
  </Card>
</CardGroup>