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

# PROTOCOL

**BOARDROOM**

· Epoch duration: 6 hours

· Deposits/withdrawals of HEIMSHARE into/from the Boardroom will lock HEIMSHARE for 6 epochs and HEIMDAL rewards for 3 epochs

· HEIMDAL rewards claim will lock staked HEIMSHARE for 6 epochs and the next HEIMDAL rewards can only be claimed 3 epochs later

· Distribution of HEIMDAL during expansion

**75%** as rewards for Boardroom HEIMSHARE stakers

**15%** goes to DAO fund

**10%** goes to DEV fund

1\. Epoch expansion: Current expansion cap based on HEIMDAL supply, if there are bonds to be redeemed, 65% of minted HEIMDAL goes to Treasury until it is sufficiently full to meet bond redemption. If there is no debt, it will follow max capped expansion rate

**Sanctuary UI available information**

Next **Seigniorage** indicates a countdown timer to the next epoch. (Each epoch is 6 hours)

**APR** refers to the simple returns in USD value relative to the amount of HEIMSHARE staked (USD value). Note: APR fluctuates from time to time and is dependent on certain factors such as:

· Amount of $HEIMSHARE staked in Boardroom (Locked value)

**Boardroom on Contraction periods**

Boardroom will not mint any GEM (NO rewards from Boardroom) when TWAP < 1.01

**Boardroom on Debt phase**

Debt Phase takes place on the expansion epochs that start after a contraction period where there are still HEIMBOND to be redeemed.

65% of Expansion during the Debt Phase is allocated to the Treasury Fund to prepare for the GBOND Redemption. This amount is still reserved whether or not HEIMBOND holders are redeeming bonds or not.

Once HEIMDAL in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.

HEIMBOND emitted per epoch during contraction periods can be found on Regulations.

**FARM**

Stake your LPs to earn HEIMSHARE tokens

Share Pools (Share Rewards) available for 12 months: TBD

**BONDS**

HEIMBOND (bond tokens) are available for purchase when HEIMDAL falls below the 1 **BANANA** peg. If HEIMDAL TWAP is between 1.00 and 1.01, neither HEIMBOND nor HEIMDAL will be issued.

e.g. if HEIMDAL TWAP < 1, exchange HEIMDAL  for HEIMBOND will be in a 1:1 ratio.

HEIMBOND (bond tokens) are available for redemption when HEIMDAL  goes above the 1 BANANA peg.

To encourage the redemption of HEIMBOND for HEIMDAL when HEIMDAL TWAP > 1.1 and incentivize users to redeem at a higher price, HEIMBOND redemption will be more profitable with a higher HEIMDAL TWAP value, of which HEIMBOND to HEIMDAL ratio will be 1:R, where R can be calculated in the formula as shown below:

R=1+\[(HEIMDAL(​twapprice)−1)∗coeff)]

Where coeff = 0.7