> For the complete documentation index, see [llms.txt](https://turtles-organization.gitbook.io/defi-turtle/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://turtles-organization.gitbook.io/defi-turtle/protocol-overview/tokens.md).

# TOKENS

## TURTLE ($TURT)

<figure><img src="/files/FBQmd4543Ghn8SyvOUdT" alt=""><figcaption></figcaption></figure>

* Pegged token to $USDC in ratio 1:1 via seigniorage.
* The built-in stability mechanism in the protocol aims to maintain $TURT’s peg in the long run.
* Listing price 1$/TURT

### Initial supply distribution

Genesis pools: 6,000

Treasury: 600 $TURT (pre\_minted) For Marketing and Airdrop.

* The $TURT  token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain turtle's peg of 1 TURTLE = 1 $USDC in the long run.

At the beginning of every epoch, if the time-weighted average price (TWAP) of $TURT is greater than 1, new $TURT will be minted in the boardroom by expansion rate (24h):&#x20;

Contract: TURTLE -&#x20;

## TURTLE SHELL ($SHELL)&#x20;

<figure><img src="/files/02ryVRiOguj5O8yZjeTX" alt=""><figcaption></figcaption></figure>

* 15,000 max supply

SHELL is one of the ways to measure the value of the DEFI TURTLE Protocol and trust in its ability to maintain $TURT close to peg. During epoch expansions the protocol mints $TURT and distributes it proportionally to all $SHELL holders who have staked their tokens in the BEACH HOUSE(BOARDROOM)

SHELL holders have DAO voting rights on proposals to improve the protocol and future use cases within the Grape Finance ecosystem.

### Distribution

1. *DAO Allocation: 2000* SHELL vested linearly 300 days
2. *Team Allocation: 2000* SHELL vested linearly over 300 days
3. *Rewards: 11,000*  SHELL are allocated for incentivizing Liquidity Providers in two shares pools for the next year.
4. Initial mint: 1 SHELL minted upon contract creation for initial pool

###

## <br>

Contract: SHELL -&#x20;

{% hint style="info" %}
During epoch expansions, the protocol mints TURTLE and distributes it proportionally, to all SHELL holder who have staked their tokens in the boardroom.
{% endhint %}

##

##


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