> For the complete documentation index, see [llms.txt](https://phemex.gitbook.io/phemex-web3-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://phemex.gitbook.io/phemex-web3-whitepaper/features/phemex-token/token-benefits/treasury-management.md).

# Treasury Management

40% of the total Phemex Token supply and any remaining tokens not distributed during pre-mining are sent to the PhemexDAO treasury for decentralized management. 

vePT holders have the right to propose and vote on significant operations including the revenue source and percentage of PT buyback for staking yields, and the payout time interval of trading rewards. In this way, vePT holders can directly influence their own rewards while being fully incentivized to promote the healthy long-term development of Phemex.  


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