> For the complete documentation index, see [llms.txt](https://tidal-flats.gitbook.io/tidal-flats-whitepaper-en/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tidal-flats.gitbook.io/tidal-flats-whitepaper-en/whitepaper/black-market-2-road-to-fidelia/black-market-dex.md).

# Black Market (DEX)

<figure><img src="/files/vLGsLhU4azFuhjPTy5Xm" alt=""><figcaption></figcaption></figure>

There's a Black Market on Fidelia, where all sorts of black marketeers gather to trade goods in secret. The Black Market is Fidelion's own vAMM-based DEX, where users can freely trade raw materials and luxuries.

The Black Market offers swap functionality by default and provides liquidity for a total of 12 pools. Of these, the $VALOR-$SOL pool is integrated into Jupiter for free trading and liquidity, while the other 11 pools are liquidated based on vLP and can only be traded on the Black Market.

## Available Pool

* $VALOR - $SOL
* $OIL - $VALOR
* $MRE - $VALOR
* $VD- $VALOR
* $GT- $VALOR
* $JBW- $VALOR
* $CT- $VALOR
* $GB- $VALOR
* $HW- $VALOR
* $UE- $VALOR
* $EB- $VALOR
* $OLC- $VALOR

## Trading Fee (Tax)

Trading fees on the black market are 4%, which is a tax, with 50% going to each faction's tax collectors and the other 50% going to the Treasury. For example, 50% of the fees generated by the $VD-$VALOR pool will be earned by the Tax Collectors who chose Blattas on Black Market 1.\
However, the tax collectors of Empire (Citizen NFTs) will get 100% of trading fee as tax-from OIL\&MRE pairs-.