> For the complete documentation index, see [llms.txt](https://docs.deorderbook.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.deorderbook.com/hodl/explaining-hodl.md).

# Explaining HODL

### What are HODL tokens?

Upon entering the world of DeOrderBook, users need to first mint HODL tokens from the supported cryptocurrencies held in their wallet. At launch, DeOrderBook supports `$USDC` and `$wBTC`.\
\
Different cryptocurrencies mint different HODL token types. `$USDC` mints `uHODL` tokens, while `$wBTC` mints `bHODL` tokens.

Think of HODL tokens like tickets you'd get when you enter a carnival. Just as you'd use those tickets to play different games or claim prizes at the end, HODL tokens enable you to get your collateral onto DeOrderBook and start earning!

### What can be done with HODL tokens?

#### Earn Yield

HODL tokens can be directly staked onto the platform for a basic APR, or can be used to place much more lucrative [DeOrders](https://github.com/DeOrderBook/deorderbook-docs/blob/main/hodl/broken-reference/README.md).

#### Earn Rewards

As DeOrders mature, users earn `$DOB`: the platform's native governance token.\
\
[Locking $DOB](/usddob/locking-usddob.md) back onto the protocol generates two types of rewards for users:\
\
\- a proportionate share of the protocol's fees according to its revenue-sharing scheme\
\- a proportion of [BULLET tokens](https://github.com/DeOrderBook/deorderbook-docs/blob/main/hodl/broken-reference/README.md)

Shares of protocol fees are paid out in HODL tokens, which are directly redeemable for cold hard crypto!

#### Redeem

Users can redeem HODL tokens for their related cryptocurrencies. `$USDC` can be redeemed with uHODL tokens, while `$wBTC` can be redeemed with bHODL tokens.\\


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