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

# Marketplace

> Secondary trading on Xpectrum

The Xpectrum Marketplace handles all secondary trading via the **Xmarket** contract. It works with any XNS-1 compliant collection, so both platform-managed XNS1 collections and creator-deployed Xcollections are tradeable. For the contract-level reference, see [Xmarket](/contracts/xmarket).

## Listing a token

To list a token for sale:

1. Approve Xmarket as an operator on the token (one-time per token, or approve-all)
2. Set your price and submit the listing

Listings are fixed-price and stored on-chain. Any buyer can look up an active listing by collection address and token ID in a single call. If a listed token changes hands after listing (for example, sent as a gift), the stale listing is dropped on the next interaction with it.

## Sale proceeds

When a token sells, payment splits automatically at settlement:

| Recipient       | Share                          |
| --------------- | ------------------------------ |
| Platform        | 2.5%                           |
| Creator royalty | As set by collection (max 10%) |
| Seller          | Remainder                      |

Proceeds are pull-based. They accumulate on Xmarket until you collect them via the dashboard Collect button (`claim_proceeds()`). Your proceeds are never lost to a failed downstream call.

## Offers

### Individual offers

Make an offer on a specific token with OCT attached. You set how long it stays open, up to roughly 60 days (the on-chain cap is `MAX_OFFER_DURATION = 518400` epochs). The OCT is held in Xmarket until the offer is accepted, cancelled, or expires. The token owner accepts, or you cancel to reclaim your OCT. Offer amounts and expiries are publicly visible on-chain.

### Collection offers

A collection offer targets any token in a collection rather than a specific one. When a seller accepts, they choose which token from their wallet fills the offer. Xmarket verifies ownership and marketplace approval at settlement.

<Note>
  Collection offers let you bid on any piece from a collection at a price you set, without waiting for a specific token to be listed. They are the fastest way to put a floor bid on a collection you want exposure to.
</Note>