> For the complete documentation index, see [llms.txt](https://docs.flashstake.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.flashstake.io/time-based-tokens-tbts.md).

# Time Based Tokens (TBTs)

<mark style="color:orange;">**TBTs (Time-Based Tokens**</mark><mark style="color:orange;">)</mark> represent the time value of money for any digital asset.

When people stake into a Time Vault Strategy, Time-Based Tokens are minted. Each individual Time Vault Strategy has a uniquely assigned TBT.

* Example: Staking USDC into Aave v2 Time Vault Strategy mints the **fUSDC TBT**
* Example: Staking stETH into the Lido Time Vault Strategy mints the **fstETH TBT**
* Example: Staking ETH/DAI LP into the Uniswap Time Vault mints the **ETH/DAI TBT**

A TBT is an ERC-20 token, created by the Flash Protocol whenever a new [strategy](/time-vault-strategies-tvs.md) is registered. TBTs are specific to a given strategy and represent the [yield pool](/time-vault-strategies-tvs/time-vault-pools.md#example-1-yield-pool). This means 100% of the total TBT supply can be redeemed for 100% of the total yield in the yield pool in a given strategy.

{% hint style="info" %}
TBTs were previously referred to as "fTokens".
{% endhint %}