> For the complete documentation index, see [llms.txt](https://docs.equiteez.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.equiteez.com/platform/secondary-markets.md).

# Secondary Markets

The Secondary Markets on Equiteez provide a robust, decentralized ecosystem for trading tokenized Real-World Assets (RWAs). From instant algorithmic swaps to institutional-grade OTC deals, the platform ensures liquidity and transparency for all asset classes.

#### [Equiteez’s Proactive Market Maker (PMM) and Liquidity Pools](/platform/secondary-markets/proactive-market-maker-pmm-and-liquidity-pools.md)

The PMM is an advanced algorithm designed to provide instant liquidity for RWAs. Unlike traditional market makers, it allows users to participate in the liquidity process.

* Instruction: Use the PMM for instant trades (market orders) or stake your assets (RWAs or USDT) into liquidity pools to earn passive yield from trading fees.
* Key Benefit: Enables immediate settlement and dual-income potential (dividends + staking yield).

#### [Technical Overview of the PMM](/platform/secondary-markets/technical-overview-of-the-pmm.md)

This section dives into the mathematical and architectural framework that powers the PMM algorithm.

* Instruction: Review this page to understand how the PMM maintains price stability and manages slippage and inventory risk through its unique pricing curve.
* Key Benefit: Provides a deep dive into the smart contract logic that ensures fair pricing without a centralized intermediary.

#### [RWA Orderbook DEX](/platform/secondary-markets/rwa-orderbook-dex.md)

For users who prefer traditional trading interfaces, the Orderbook DEX offers a familiar experience on-chain.

* Instruction: Navigate here to place limit orders at specific price points. It is the ideal tool for traders looking to avoid slippage on larger, non-urgent transactions.
* Key Benefit: Non-custodial trading where users retain control of their funds until a match is found.

#### [Technical Overview of the RWA Orderbook DEX](https://docs.equiteez.com/platform/secondary-markets/technical-overview-of-the-rwa-orderbook-dex)

A comprehensive guide to the smart contract entry points and administrative functions of the Orderbook.

* Instruction: Explore this section to understand the matching logic, escrow mechanisms, and how to interact with the contract's technical functions like processing refunds.
* Key Benefit: High-level transparency for developers and advanced users regarding how trades are settled on the Mavryk blockchain.

#### [Equiteez OTC Markets](https://docs.equiteez.com/platform/secondary-markets/equiteez-otc-markets)

The Over-The-Counter (OTC) market is tailored for large-scale or private transactions that could otherwise impact market prices.

* Instruction: Use the OTC desk for direct investor-to-investor trades. You can create custom listings, set specific terms, and negotiate prices through a secure escrow system.
* Key Benefit: Prevents price volatility for large trades and allows for flexible payment options and partial order fulfillment.