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description: Definitions & Concepts
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# Tokens

#### `$BW` — BEP-20 utility token of the protocol <a href="#usdthe-bep-20-utility-token-of-the-protocol" id="usdthe-bep-20-utility-token-of-the-protocol"></a>

`$BW`emissions currently have two key objectives:

* Reach and maintain adequate liquidity to facilitate optimal trading conditions — `$BW` are emitted as farming rewards to incentivize deep liquidity
* Encourage decentralized governance — `$BW` can be used to take part in the governance for continuous development of the platform. The long term goal is to achieve true decentralization.

#### `veBW` — ERC-721 governance token in the form of an NFT (non-fungible token) <a href="#vethe-erc-721-governance-token-in-the-form-of-an-nft-non-fungible-token" id="vethe-erc-721-governance-token-in-the-form-of-an-nft-non-fungible-token"></a>

`veBW` is the vote-escrowed version of `$BW`. Users can lock their `$BW` tokens for up to 2 years to get `veBW`. The longer the lock, the higher the amount of `veBW` voting power received.

<figure><img src="https://1890893495-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FsZvfGCTESSvvfEDsqTzk%2Fuploads%2FGh9xhBJuocAoMPRm5R4n%2Fimage.png?alt=media&#x26;token=7c57a89f-b5fb-407d-b7a8-27a12e3b8a03" alt=""><figcaption></figcaption></figure>

To encourage continuous locking and sustained participation from stakeholders, the `veBW` balance of users declines over time until it reaches zero at the conclusion of the initial locking period. `veBW` positions can be increased, split up and resold on a secondary market.

#### **`bwNFT` — ERC-721 founders' token in the form of an NFT (non-fungible token)** <a href="#thenft-erc-721-founders-token-in-the-form-of-an-nft-non-fungible-token" id="thenft-erc-721-founders-token-in-the-form-of-an-nft-non-fungible-token"></a>

`bwNFT` can be staked for revenue sharing. The staking pool receives a share of trading fees from Blockwise, as well as royalties from secondary sales of`bwNFT`.

#### Token Addresses <a href="#token-addresses" id="token-addresses"></a>

`$BW` [`0xB236b181590B15aE841976F036CFf64c9A1f8B9d`](#user-content-fn-1)[^1]

[^1]: 
