> For the complete documentation index, see [llms.txt](https://streamlock.gitbook.io/streamlock-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://streamlock.gitbook.io/streamlock-docs/guides/buying-tokens.md).

# Buying Tokens

A complete guide to purchasing tokens on Streamlock.

***

## Before You Buy

Make sure you have:

* [ ] Wallet connected to Streamlock
* [ ] Sufficient SOL for purchase + fees

***

## Step-by-Step Guide

### 1. Find a Token

Navigate to the **Markets** page and browse available tokens. Each listing shows:

* Token name and symbol
* Current price
* Target price and milestone (Siren tokens)
* Current phase (GRIND / FREEZE / UNLOCK)

Click on a token to open its trading page.

### 2. Review Token Details

On the token page, check:

| Info              | What to Look For                                       |
| ----------------- | ------------------------------------------------------ |
| **Current Price** | What you'll pay per token                              |
| **Target Price**  | The current milestone target                           |
| **Progress**      | How close to target (percentage)                       |
| **Phase**         | GRIND (buy open), FREEZE (waiting), UNLOCK (sell open) |
| **Your Position** | Any existing streams you have                          |

### 3. Enter Purchase Amount

In the **Buy** panel:

1. Enter the amount of **SOL** you want to spend
2. See the estimated tokens you'll receive
3. For **Ulysses tokens**: Enter your desired target price

### 4. Review the Quote

Before confirming, review:

```
You Pay:        1.0 SOL
You Receive:    ~50,000 TOKEN
Target Price:   0.001 SOL (Siren) or your choice (Ulysses)
Fees:           ~0.04 SOL (4% — 3% base + 1% epoch)
Slippage:       0.5%
```

### 5. Confirm Purchase

1. Click **Buy**
2. Your wallet will prompt for approval
3. Review transaction details in wallet
4. **Approve** the transaction
5. Wait for confirmation (usually 2-5 seconds)

### 6. View Your Stream

After purchase:

* Go to **My Streams**
* Find your new position
* Track milestone progress and current phase

***

## Understanding Fees

Buy fees have two components:

| Component      | Fee Rate                                             |
| -------------- | ---------------------------------------------------- |
| Base fee       | **3% flat** (same regardless of price progress)      |
| Epoch pressure | +1–10% (only during heavy trading in a 5-min window) |
| Cap            | **13% max**                                          |

The base fee is the same whether you buy at 10% or 95% to target — no dead zones near the milestone. During normal activity, expect \~4% total (3% base + 1% epoch).

***

## The 1% Holding Limit

Streamlock enforces a **1% maximum** per address in price-gated streams:

**If your purchase would exceed 1%:**

* Up to 1% goes into your price-gated stream (normal milestone-based unlock)
* Excess goes into a **milestone-anchored time-locked position**:
  * **67-day cliff**, starting at whichever is later: the buy time **or** the token's first price milestone hit
  * **67 days of linear vesting** after the cliff — claim drips roughly `1/67` of the excess per day
  * Claiming requires the pool to be in an active UNLOCK window (so drips compress into whatever UNLOCK-window durations your token sees)
* You still receive all tokens, just with different unlock conditions

This prevents whales from dominating token supply *and* prevents them from locking in timing guarantees independent of the token's performance. A whale who buys 1.6% and sees the token pump fast to M1 can't dump the 1% portion and then wait out a fixed calendar timer — their 0.6% excess is anchored to the milestone, delaying realization until at least 67 days post-M1.

If the token never hits a milestone, the excess stays locked indefinitely — by design.

**How to claim the drip:** open the Sell panel for your excess position after the effective cliff opens. You'll see an "Anti-whale drip" block with a "Claim drip" button. Click it once to initialize your on-chain entitlement ledger; after that, a protocol-run crank advances the drip automatically during UNLOCK windows and your claimable SOL accumulates. Click Claim any time to sweep the delta.

***

## Tips for Better Buys

### Set Realistic Targets (Ulysses)

* Too low: Unlocks fast but misses upside
* Too high: May never unlock
* Sweet spot: A milestone you genuinely believe will be hit

### Consider Slippage

* Default slippage is 0.5%
* Increase for large buys or volatile tokens
* Too high slippage = worse price execution

### Buy in Tranches

* Multiple smaller buys instead of one large buy
* Reduces slippage impact
* Allows different target prices (Ulysses)

### Time Your Entry

* Buy fees are a flat 3% base regardless of price progress — no penalty for buying early or late
* During heavy trading in a 5-minute epoch, epoch pressure fees (1–10%) are added, up to a 13% cap
* Epoch caps reset every 5 minutes

***

## What Happens After Purchase

Your tokens are now in a non-custodial escrow — [Locksmith](/streamlock-docs/core-concepts/locksmith.md) for new pools, Streamflow for legacy / opt-in pools:

1. **Locked**: Tokens held until milestone target is hit
2. **GRIND**: Community works toward the target
3. **FREEZE**: Target hit — pool freezes (24h for M1)
4. **UNLOCK**: Window opens — sell or withdraw with decaying fees

You haven't "lost" your tokens — they're safely escrowed and will become sellable when the milestone is achieved.

***

## Troubleshooting

### "Transaction Failed"

* Check SOL balance (need enough for tokens + fees)
* Increase slippage tolerance
* Try a smaller amount (epoch cap may be hit)

### "Insufficient Liquidity"

* The pool doesn't have enough tokens
* Try a smaller purchase
* Wait for others to sell

### "Price Changed"

* Market moved during transaction
* Increase slippage or retry quickly

### "No Quote Available"

* Refresh the page
* Check if token is still active
* Network may be congested

***

## Next Steps

* [Selling Tokens](/streamlock-docs/guides/selling-tokens.md) - Learn how to exit positions
* [Target Price & Milestones](/streamlock-docs/core-concepts/target-price.md) - Understand the milestone lifecycle
* [Fee Structure](/streamlock-docs/fees-and-economics/fee-structure.md) - Full fee breakdown