# $ELXR

$ELXR is the native ERC-20 token of Elexir. 

You use your $ELXR to buy Cauldrons or buy in-game perks assets. 

### **🤔 Where can you buy $ELXR?** 

There are three main ways to buy $ELXR token:

* **Bonding:** Acquire $ELXR at a discount [by bonding](https://app.elexir.finance/shop) with either LP tokens or listed token.
* **Market**: Using the Decentralized Exchange (DEX): Trader Joe
* **Reward**: Get the produced $ELXR from your Cauldrons

### **✨ $ELXR Supply** 

$ELXR has an **initial supply** of 775 000 tokens.<br>

*Distribution:*

* Private sale: 200000
* Public sale: 250000
* LP: 25000
* Vested Team: 100000
* Marketing: 200000
* ~~Reward pool: 225000~~

Why did we didn't mint the Reward pool tokens? Well we decided for the sake of the protocol health to use a burn/mint mechanism instead. So no need for a reward pool.&#x20;

{% hint style="info" %}
The burn/mint mechanism is a better control over the supply.

When a user mints a new Cauldron/Cookbook/Claimstone we burn 80% of the tokens, hence increasing the excess reserve of the treasury.

Having extra excess reserve allows the [Magic Fed](/elexir/elexir-lore/magic-fed.md) to mint new fresh $ELXR when a Cauldron is claimed.
{% endhint %}

$ELXR supply does not have a hard cap. Its supply increases when:

* $ELXR is minted and distributed to the cauldrons owners.
* $ELXR is minted for the bonder. This happens whenever someone purchases a bond.
* $ELXR is minted for the DAO. This happens whenever someone purchases a bond. The DAO gets the same number of ELXR as the bonder.

> ✨ So you get it, the growth of the token supply is indexed to the growth of the treasury: The bigger the treasury, the bigger the supply.
>
> ✨ Contrary to other nodes projects, we don’t have to sell $ELXR to acquire liquidity resulting in a selling pressure on the token. We use the bonding mechanism to capture the necessary LP token for the DEX protecting the $EXLR price.


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