> For the complete documentation index, see [llms.txt](https://docs.usenest.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usenest.xyz/governance-venest/5.4-hyperwarp-marketplace.md).

# 5.4 - Hyperwarp Marketplace

**veNEST positions are NFTs**, which means they can be **transferred** and, where supported, **traded** on secondary markets. Hyperwarp is the primary venue you’ll see used for veNEST trading.

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Marketplace: [**https://hyperwarp.fi/mx/v3/nest**](https://hyperwarp.fi/mx/v3/nest)

{% hint style="warning" %}
**Discount:** veNEST on the secondary market is listed with a discount due to it's lock period.
{% endhint %}

#### What you’re buying (or selling)

When you trade a veNEST NFT, you are trading:

* the **locked veNEST position**
* the **remaining lock duration** (expiry date does not change)
* the NFT’s **current voting power** (which trends down as expiry approaches unless managed)

{% hint style="info" %}
**Important:** you inherit the lock’s remaining time. You are not “resetting” it.
{% endhint %}

#### Why Hyperwarp matters

Hyperwarp makes veNEST more flexible opening a secondary trading market:

* exit a lock without waiting for expiry (via sale)
* acquire veNEST exposure without creating a fresh lock
* consolidate strategy (buy larger locks instead of building slowly)

#### Key warnings (read before buying)

* **Liquidity can be thin:** listings may not fill instantly
* **Check what you’re actually buying:** amount locked + expiry + current power
* Secondary markets for 've' NFTs naturally are sold at a discount due to being locked

{% hint style="info" %}
Secondary markets for locks are part of what makes MetaDEXs powerful — they turn liquidity coordination into an asset. The more veNEST is held by aligned participants, the more efficiently the ecosystem can direct incentives into the markets that grow HyperEVM.
{% endhint %}