> ## Documentation Index
> Fetch the complete documentation index at: https://docs.infinifi.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Tokens

> Protocol token implementations

## Token Contracts

infiniFi uses three types of tokens to represent user positions.

## Contracts

<CardGroup cols={3}>
  <Card title="ReceiptToken.sol" icon="receipt" href="/dev-docs/tokens/receipt-token">
    iUSD - Deposit receipt
  </Card>

  <Card title="StakedToken.sol" icon="coins" href="/dev-docs/tokens/staked-token">
    siUSD - Staked position
  </Card>

  <Card title="LockedPositionToken.sol" icon="lock" href="/dev-docs/tokens/locked-position-token">
    liUSD-xw - Locked position
  </Card>
</CardGroup>

## Token Overview

| Token        | Description               | Yield                             | Liquidity          |
| ------------ | ------------------------- | --------------------------------- | ------------------ |
| **iUSD**     | Receipt for USDC deposits | None                              | Instant redemption |
| **siUSD**    | Staked iUSD               | Liquid farm yields                | Instant unstake    |
| **liUSD-xw** | Locked iUSD for x weeks   | Illiquid farm yields + governance | Unbonding period   |

## How They Work

1. **Deposit USDC** → Receive iUSD
2. **Stake iUSD** → Receive siUSD (earn liquid yields)
3. **Lock iUSD** → Receive liUSD-xw (earn illiquid yields + vote)

Users can convert between these positions according to the rules of each token type.