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

# Tokens

The **Farming Whales** Bonds (**WHALEBOND**) main job is to help incentivise changes in **WHALEUSD** supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of **WHALEUSD** falls below **1** **USDC**, **WHALEBONDS** are issued and can be bought with **WHALEUSD** at the current price. Exchanging **WHALEUSD** for **WHALEBOND** burns **WHALEUSD** tokens, taking them out of circulation (deflation) and helping to get the price back up to **1** **USDC**. These **WHALEBOND** tokens can be redeemed for **WHALEUSD** 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 **WHALEUSD** when it is above peg, helping to push it back toward **1** **USDC**.Contrary to early algorithmic protocols, **WHALEBOND** do not have expiration dates. All holders are able to **redeem** their **WHALEBOND** for **WHALEUSD** tokens as long as the Treasury has a positive **WHALEUSD** balance, which typically happens when the protocol is in epoch expansion periods.


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