> For the complete documentation index, see [llms.txt](https://magikdotfinance.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://magikdotfinance.gitbook.io/docs/contracts/tokens.md).

# Tokens

Magik Finance Token contract addresses

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FvY3Xi8tks8r1gvwjX29u%2Fcrypto_tomb_cash.png?alt=media\&token=08daa3b1-7b85-427e-b8a7-da058952704e)

## Magik Finance - MAGIK Token

Contract: [0x87a5c9b60a3aaf1064006fe64285018e50e0d020](https://ftmscan.com/token/0x87a5c9b60a3aaf1064006fe64285018e50e0d020)

`MAGIK` token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain MAGIK's peg of 1 `MAGIK` = 1 Fantom (`FTM`) in the long run. 

{% hint style="warning" %}
Note that MAGIK **actively pegs via the algorithm**, it **does not mean** it will be valued at 1 `MAGIK`: 1 FTM at all times as it is not collaterized. `MAGIK` is not to be confused for a crypto or fiat-backed stablecoin.
{% endhint %}

## MSHARE - Magik Share

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FQGwelnE2DJuwYtRf3IVO%2FmShare.png?alt=media\&token=c5e38911-910e-40bb-ba12-97af52554d1d)

Contract: [0xc8ca9026ad0882133ef126824f6852567c571a4e](https://ftmscan.com/token/0xc8ca9026ad0882133ef126824f6852567c571a4e)

Magik Share (`MSHARE's`) are one of the ways to measure the value of the MAGIK Protocol and shareholder trust in its ability to maintain MAGIK close to peg. During epoch expansions the protocol mints `MAGIK` and distributes it proportionally to all `MSHARE` holders who have staked their tokens in the **Dungeon**.

`MSHARE` has a **maximum total supply of 70001** tokens distributed  as follows:

1. *DAO Allocation: 5500* `MSHARE's` vested linearly 12 months
2. *Team Allocation: 5000* `MSHARE's` vested linearly over 12 months
3. *Rewards: 59500 `MSHARE's`* are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
4. Initial mint: 1 `MSHARE` minted upon contract creation for initial pool

## MBOND - Magik Bonds

![](https://806587886-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FgDJUEsLRgeoBBbTf78ox%2Fuploads%2FmxWuWtgdQXY6cP1kbq66%2FmBond.png?alt=media\&token=67f3284f-3d78-438d-8146-4e482c990544)

Contract: [0xca4cdc336fdeb7ee618dd7745bd27758c8e03a91](https://ftmscan.com/token/0xca4cdc336fdeb7ee618dd7745bd27758c8e03a91)

`MBOND's` main job is to help incentivize changes in `MAGIK` supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of `MAGIK` falls below `1MAGIK : 1FTM` , `MBOND's` are issued and can be bought with `MAGIK` at the current price. Exchanging `MAGIK` for `MBOND` burns `MAGIK` tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These `MBOND's` can be redeemed for `MAGIK` when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for `MAGIK` when it is above peg, helping to push it back toward 1 `MAGIK` to 1 `FTM` ratio.

{% hint style="info" %}
Contrary to early algorithmic protocols, `MBOND's` do not have expiration dates. 
{% endhint %}

All holders are able to redeem their `MBOND` for `MAGIK` tokens as long as the Treasury has a positive `MAGIK` balance, which typically happens when the protocol is in epoch expansion periods.