> For the complete documentation index, see [llms.txt](https://docs.alephzero.org/aleph-zero/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.alephzero.org/aleph-zero/use/governance/token.md). # Token The **GOV** token is a PSP-22 token used to represent the voting power of individual AZERO-WASM accounts in governance voting. ## Smart contract address ``` TBA ``` ## Token distribution The distribution of the **GOV** token is based on the history of staking of each account. The balance of account $$A$$ is given by: $$\mathrm{balance}*{\mathrm{GOV}}(A) = \sum*{i=1}^N \mathrm{staked}\_i(A)$$ where the summation is over all era indices $$i$$ from $$1$$ to the cut-off era index $$N$$, $$\mathrm{staked}\_i(A)$$ denotes the total staked amount of account $$A$$ in era $$i$$, including both direct staking, and staking through a nomination pool. The AlephZero Foundation's accounts are excluded from the token distribution, i.e. their balances of the **GOV** token are $$0$$. What this formula intuitively achieves is granting governance token proportionally to the amount of staked AZERO over the whole history of the blockchain. For instance, a user who was staking 2000 AZERO for 10 days (eras) will receive the same amount of GOV tokens as a user who staked 10000 AZERO for 2 days. ### Transferability The **GOV** token is non-trasferable. ### Cut-off eras The cut-off era index $$N$$ corresponds to the last era which matters in establishing the balances of the **GOV** token for a particular governance session. The cut-off era index of each governance session is announced, and the voting itself happens a short time after the cut-off era. ## Token minting The minter of the token is the AlephZero Foundation. The token will most often be minted shortly after the cut-off eras, which means that the balances output by the **GOV** token smart contract will be relevant only when there is an upcoming governance session. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.alephzero.org/aleph-zero/use/governance/token.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.