# Market ## What is a market? A market is where liquidity providers and takers meet to exchange an asset. Liquidity providers add liquidity (the base asset) to the market, while takers exchange an asset they own (the quote asset) for the liquidity. ## What are the types of markets? Joint supports both instant and interactive markets. Instant markets involve pairs that exist on-chain (e.g. USDT/WETH). Interactive markets involve pairs where one of the assets exist off-chain (e.g. USDT/JPY). ## What is a market fee? It is a fee deducted from every trade from a specific market and paid to the market creator. The market creator is responsible for setting the market fees. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.joint.exchange/faq/market.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.