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

# sGAGE, the reward

sGAGE is the protocol's own token. Every funded deal earns it for both the borrower and the lender, and so does every position that provides GAGE/sGAGE liquidity.

## How it is earned

| Source               | Who                              | How much                                                                          | Drips over                    |
| -------------------- | -------------------------------- | --------------------------------------------------------------------------------- | ----------------------------- |
| A funded deal        | Borrower and lender, split 50/50 | The fee the deal paid times this week's rate for its term, from the week's budget | The deal's term, 7 or 21 days |
| A liquidity position | The position's owner             | The position's share of this week's liquidity emissions, by LP score              | 7 days from collecting        |

Rewards are granted **locked** and drip out on a curve that pays little at first and most at the end. See [The drip](/rewards/the-drip.md).

## Two things you can do with it

1. **Pair it.** Add it with GAGE to the GAGE/sGAGE pool and the pool pays you every week for being there. Nothing to stake, nothing to lock. See [Provide liquidity](/pool/provide-liquidity.md).
2. **Sell it.** In the pool, once it has unlocked.

There is nothing to convert. Bought sGAGE is never locked; the drip applies to rewards only.

## Two numbers that tell its story

Wherever rewards appear, two numbers are visible:

* **Pool price**: sGAGE in GAGE, set by buyers and sellers in the pool alone. The health gauge for the token.
* **Burned this week**: the sGAGE bought back with protocol fees and burned. Supply only ever goes down.

## Every reward, on two lines

A reward on gage is always shown on two lines and never merged into one number:

> Fixed cost 9.12 USDG · 0.50% for 7 days ≈ 1,240 sGAGE · drips 7 days

Line one is the USDG. Line two is the sGAGE estimate at the current pool price, with its drip. The estimate moves with the pool price and with the week's rate.

{% hint style="info" %}
sGAGE rewards are estimates at pool price. The pool price moves.
{% endhint %}


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