> 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/incentives/trading-rewards.md).

# Trading Rewards

12.5% of total token supply, or 125 million tokens will be distributed from the Phemex DAO treasury as trading rewards for all PSP holders. \
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Additionally, 100 million tokens will be available to be [pre-mined as xPT](/phemex-web3-whitepaper/incentives/trading-rewards/xpt-pre-mining.md), prior to the TGE date in Q3 2023. All xPT will be automatically converted to on-chain PT during token launch.