> For the complete documentation index, see [llms.txt](https://docs.universal.xyz/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.universal.xyz/docs/introduction-to-universal/universal-protocol-overview/universal-token-liquidity-and-acquisition.md).

# Universal Token Liquidity & Acquisition

Universal token merchants play a crucial role in the ecosystem by minting new tokens and supplying liquidity to both centralized (CEXs) and decentralized exchanges (DEXs).

<figure><img src="https://2533779672-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FXh5fv5YSvLZEWa12x8W9%2Fuploads%2FtfFhNdyeKjTa0YsvJK8Z%2FFrame%2012%20(1).svg?alt=media&amp;token=e225f8c8-aa3e-4633-b7e5-cffd9b44e031" alt=""><figcaption><p>Universal Token Ownership Flow</p></figcaption></figure>

**Acquiring Universal Tokens:**

* Prospective token holders can **purchase Universal tokens** directly from **available markets.**
* When leveraging the Universal relayer, liquidity is **maintained by merchants**, ensuring efficient price discovery and execution.

#### **Redeeming & Burning Universal Tokens:**

* Token holders have the **option to sell their tokens back to merchants**.
* Upon repurchase, **merchants burn the tokens**, reducing the circulating supply and maintaining the integrity of the Universal ecosystem.