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

# Legacy AMM markets

> Pool-quoted markets: price impact, and what you can't do here.

Some markets at `/markets/[slug]` still use an automated market maker. Your counterparty is a pricing pool rather than a visible book of trader orders.

<Note>
  On an AMM page you **cannot** place a resting limit order or inspect order-book depth. If you need either, look for a CLOB market instead. Market cards label the mechanism.
</Note>

## Buying

1. Enter a USDC amount and choose an outcome.
2. Review estimated shares, average price, price impact, slippage and fees.
3. Confirm.

## Selling

1. Choose the outcome you hold and enter a share count.
2. Review expected proceeds and price impact.
3. Confirm.

## Price impact

A larger order moves the pool price more than a smaller one. Price impact is quoted up front, as part of the ticket — it is not a surprise applied afterwards. If the impact on your intended size looks steep, splitting the order does not avoid it; the pool reprices either way.

## Portfolio and claims

AMM positions appear alongside CLOB positions in your portfolio, and claiming works the same way from your side. Underneath, XO routes an AMM market to a different redemption path than a CLOB condition, but that routing is handled for you.