> For the complete documentation index, see [llms.txt](https://docs.cork.tech/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cork.tech/user-guides/otc-trading-of-swap-tokens.md).

# OTC trading of Swap Tokens

In order to lock in the fixed yield from underwriting a particular market, the liquidity provider must sell their Cork Swap Tokens in exchange for a premium. Meanwhile, for hedgers to gain access to Swap Tokens, they need a mechanism to transfer their premium payment in exchange for the Swap Tokens. Airswap OTC is battle tested tool which enables such transactions to be made. This guide will explain how to make and take orders on Airswap OTC.

## Making an order

1. Navigate to <https://www.airswap.xyz/otc> and press start now
2. Press "make an order"

<figure><img src="/files/Q40JN6EBbw2jlrSbJGcx" alt=""><figcaption></figcaption></figure>

3. Press "From - Select" and insert the token address of the Cork Swap Token. This can be collected in the dapp in the "Airswap Instructions" page in the mint flow, but can be confirmed separately by the Cork team.
4. Press "To - ETH" and select the desired payment token, for example USDC.
5. Press "For" and select "Specific Taker", to enable only one counterparty to take the order. Insert the wallet address of the taker.
6. Press "Expires in" and adjust (recommended to approximately 3 days) to enable the taker to complete the order.
7. Press Continue to advance to the next screen.

<figure><img src="/files/s62WF6Wu4Mvoaa69GEAf" alt=""><figcaption></figcaption></figure>

8. Press Sign to initiate token approval. The tokens will remain in your wallet but will be approved for spending and will be transferred from your wallet when the order is taken.
9. After approval, press "Sign" again to create the order. This will take you to a final order confirmation page where you can "copy link" to the order.
10. Send the order link to the counterparty purchasing the Swap Tokens so they can take the order.

<figure><img src="/files/bWSgXg4OdpE0fmu74HDS" alt=""><figcaption></figcaption></figure>

## Taking an order

After receiving the link to an order, perform the following steps:<br>

1. Review details

Review the following details of the trade:

A. Correct contract address of the Swap Token\
B. Correct payment token\
C. Correct price to be paid

If the above are correct, proceed to press “Approve” which will trigger a token approval for the payment token.

<figure><img src="/files/JCRfiPsLAargVoZtBvdy" alt=""><figcaption></figcaption></figure>

2. Take the order

Following the approval of the payment token, you are ready to execute the trade by pressing Take which will trigger another transaction in your wallet.

<figure><img src="/files/z4tWY1Ku7MKaRQ7LSYq4" alt=""><figcaption></figcaption></figure>

3. Swap completed

After the transaction is completed, your Swap Tokens will directly arrive in your wallet.

<figure><img src="/files/HGNqfkkpWF6zCG5Wa5DX" alt=""><figcaption></figcaption></figure>


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.cork.tech/user-guides/otc-trading-of-swap-tokens.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.