> For the complete documentation index, see [llms.txt](https://pepay.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pepay.gitbook.io/whitepaper/overview/buy-sell-usdpepay.md).

# Buy/Sell $PEPAY

Buying and selling $PEPAY on the open market (from any LP) is a distinctly different act from minting (buying) or burning (selling) $PEPAY to the contract. It does not pay a fee nor does it generate any backing.

1. Only mint/burn transactions to the contract pay the 10% fee.
   1. Again, that means there is NO fee on any $PEPAY LP. Do not pay any LP fee when trading $PEPAY on the open market (LPs).
2. Only mint/burn transactions to the contract increase the backing.
   1. This means that the CONTRACT price of $PEPAY, priced in $PEPE, can never go down - but prices in LPs can fluctuate in the short term until they are arbitraged.
3. The arbitrage between the $PEPAY price in the contract (mint/burn), and in the LPs (buy/sell), is the engine that forces volume, which gradually increases $PEPAY's backing in $PEPE.
4. LP stakers in the designated V2 Uniswap $PEPAY/Eth pool receive 2% of all contract trades, paid out directly in $PEPE, as an incentive for providing liquidity to enable arbitrage.