> For the complete documentation index, see [llms.txt](https://docs.toros.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.toros.finance/trading/selling.md).

# Selling

When you sell a Toros token, the vault withdraws its underlying assets and swaps them into the single token you choose to receive.

## How to Sell

Because a vault holds a basket of assets, a standard sell takes three steps:

1. **Approve** the withdrawal.
2. **Withdraw** into the vault's underlying basket of assets.
3. **Swap** the basket into your chosen token and receive it.

Each sell charges a [trading fee](/trading/fees.md).

## Liquidity

Sells source liquidity from across the network using [DEX aggregators](/resources/glossary.md#dex-aggregator), so larger trades can execute with low [slippage](/leveraged-tokens/slippage.md).

When slippage is set to auto, the trade is simulated at the lowest possible slippage, then increased gradually until it can go through. Once it can execute, the transaction is sent to your wallet for approval.

You can choose which DEX aggregators are enabled in trade settings. By default, any enabled aggregator can be used so the trade goes through at the selected slippage.

## On-Demand Sells

Some vaults hold only part of their value as instantly **withdrawable liquidity**. A sell larger than the available withdrawal liquidity can still be completed with an **on-demand sell**.

An on-demand sell places a sell order and automatically makes withdrawal liquidity available, so you can complete the withdrawal moments later. It uses the same flow as [stop orders](/trading/stop-orders.md) — a single approve transaction instead of the three steps above.


---

# 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.toros.finance/trading/selling.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.