# Trade Debt/Lend

In addition to LP’ing, users can also trade debt. Navigate to this tab from the ‘trade debt’ button on the home page, or by selecting the ‘trade debt’ tab highlighted in the image below.

<figure><img src="https://3972845554-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FCHCjmUrjuPhzffSUl2eD%2Fuploads%2FXXxxeFoheeQPMwQ8XD1t%2FScreenshot%202024-03-11%20at%2012.35.41%20PM.png?alt=media&#x26;token=028cac92-0a7f-462f-8c45-eae3aa5c18ed" alt=""><figcaption></figcaption></figure>

On Covenant, borrowers mint debt and then sell that debt on the market to lenders. In other words, debt has a market price, and buyers (i.e. lenders) of the debt realize interest by price exposure to the token. Passive lenders will buy and hold the debt token, but you can also trade it, speculating on its price, and thus rate.&#x20;

If the interface reminds you of Uniswap V3, that’s because it is! Covenant has integrated the Uniswap swap widget. Unlike LP’ing, swaps are executed in-app.

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If you’ve used Uniswap, you already know how to buy debt. If not, just input your desired purchase amount, click ‘Review Swap,’ and execute any prompted permissions. The swap widget defaults to *buying* debt tokens (i.e. lending). If you would like to *sell* debt tokens, click the blue arrows to change the swap order.

<figure><img src="https://lh7-us.googleusercontent.com/GlZ8nX5dF8fxhdaac9g6LNJBrhW8Zfm58_2Y3McwPwq9C7BXD-JAAbv6pV04eirQAcw5ihUBYEENozCQPaT1q1drEp3hvBg5TM-ve3KZ-hn3qD6GtMwjDfVUduxm8eXztvDFYMXs1X8_sCSFwRC-yFw" alt=""><figcaption></figcaption></figure>
