> 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/tokens/sgage.md).

# sGAGE

sGAGE is the protocol's own token. It is the only asset the protocol ever emits.

|                             |                                                                             |
| --------------------------- | --------------------------------------------------------------------------- |
| Supply                      | 5,000,000,000, minted once. Only ever decreases                             |
| Emissions                   | 80%, 4.0B, released to deal rewards and liquidity rewards over 52 weeks     |
| Pool seed                   | 20%, 1.0B, paired with GAGE at launch, in a 365-day timelock                |
| Team or treasury allocation | None                                                                        |
| Earned                      | Locked, from deals and from providing liquidity, dripping out over the term |
| Bought                      | In the GAGE/sGAGE pool. Bought sGAGE is never locked                        |
| Burned                      | By floor sweeps and whatever emissions remain after week 52                 |

## Why "s"

The s does not stand for staked. There is nothing to stake. sGAGE is the reward you earn and pair.

## What holds it up

Selling pressure comes from unlocked rewards. It is met by three standing buyers, a supply that only falls, and the shape of the drip. See [What gives sGAGE a bid](/tokens/what-gives-sgage-a-bid.md).

## The gauge

The pool price of sGAGE in GAGE is the health gauge for the layer. It is set by buyers and sellers alone and is shown on Rewards and Pool at all times, next to the sGAGE burned this week.

## Contract invariants

* Total supply only ever decreases.
* Locked sGAGE unlocks only by the curve. No function releases it early or slows it.
* The emissions contract can send only to the reward contracts, never faster than the schedule, and nothing leaves it after week 52 except to the burn.


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