> For the complete documentation index, see [llms.txt](https://docs.increment.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.increment.fi/protocols/liquid-staking/protocol-overview/stflow-token.md). # stFlow token ### What is $stFlow? $stFlow is a fungible token on Flow blockchain that represents a share of the total $flow tokens staked through liquid staking protocol, along with any generated staking rewards. User will receive $stFlow tokens after staking $flow tokens in LSP (liquid staking protocol). As a kind of staking receipt, user can exchange $flow tokens and the earned rewards back through burning $stFlow. The minting of $stFlow only happens when new staking occurs in LSP. ### How is $stFlow quoted? The latest $stFlow/$Flow price can be queried by protocol interface: ``` // 9.9913 &stFlow -> 10.0000 $flow LiquidStaking.calcStFlowFromFlow(flowAmount: UFix64) // 10.0000 $flow -> 9.9913 &stFlow LiquidStaking.calcFlowFromStFlow(stFlowAmount: UFix64) ``` At the beginning of each new epoch, $stFlow price will be recalculated and this quote will not change during the whole epoch period. The quotation of $stFlow is: $$ $stFlow Price = \frac{\[$flow's TotalStaked] + \[EarnedRewards]}{\[$stFlow's TotalSupply]} $$ It is not difficult to find that the price of $stFlow will continue to increase as new staking rewards accrued. At the epoch of creation, the price of 1 $stFlow is equal to 1 $flow. Assume that the Apr of staking is 8%, and the reward is issued according to the $flow total staked: $$ EarnedRewards = \frac{$flow's TotalSupply \* 0.08}{52} $$ The price change of $stFlow over one year can be plotted:​