> For the complete documentation index, see [llms.txt](https://docs.fractit.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fractit.com/token-lifecycle.md).

# Token Lifecycle

- [Subscription](https://docs.fractit.com/token-lifecycle/subscription.md): Subscription is the primary market process through which a user acquires DFMREIT tokens by depositing CC or USDC
- [Secondary Market](https://docs.fractit.com/token-lifecycle/secondary-market.md): Once you hold DFMREIT tokens, you can trade them 24/7 on Fractit's on-chain AMM pool — no order books, no waiting for a counterparty.
- [Redemption](https://docs.fractit.com/token-lifecycle/redemption.md): Redemption is the process through which a DFMREIT token holder burns their tokens and receives CC or USDC in return via the primary market. vocabulary you need to use Fractit confidently.