> For the complete documentation index, see [llms.txt](https://docs.aces.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aces.fun/initial-product-offering-ipo/usdaces-token-mechanics.md). # $ACES Token Mechanics As the platform's reserve currency, $ACES tokens are fundamental to the ecosystem's growth through sophisticated bonding mechanisms. Each new asset listing locks additional tokens into liquidity pools, progressively reducing circulating supply. This creates a quadratic effect: as platform usage increases through new listings and trading volume, more $ACES tokens are removed from circulation while demand continues to rise. #### Value Accrual Mechanisms The token's demand grows through multiple reinforcing channels: * Network Growth: Each new asset pool expands utility and adoption * Interoperability: $ACES serves as the common denominator for all asset tokens * Routing Requirements: All trading activity must flow through $ACES pairs * Transaction Fees: A portion automatically converts to locked liquidity This creates a powerful growth cycle where increased platform activity simultaneously drives demand for $ACES while reducing available supply, establishing a sustainable model for long-term value and usage. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.aces.fun/initial-product-offering-ipo/usdaces-token-mechanics.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.