Help understanding how ERC20 interacts with exchanges

FizpokPakFizpokPak Member Posts: 10
Need help:
Say I have ERC20 token. Here is an example I found on etherscan: here
Now, let's say I contact an exchange and ask them to list it. Let's even say they agreed.

Question 1: What do I have to do for them to be able to trade my token? Like passing ownership or something?
Question 2: They are supposed to set market price based on supply and demand. How do they do it? I am not talking about figuring a market price, but about interacting with token: I do not see price in token itself, so is pricing entirely at exchanges' side?


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