> 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/tokenomics-flash/token-utility.md).

# Token Utility

## Time Fees

FLASH is the exclusive token for consolidating, arbitraging, and unlocking *Time Fees* from the protocol.

1. When anyone uses the Flashstake Protocol, [TBTs](/time-based-tokens-tbts.md) are minted.
2. Anytime TBTs are minted, a [Time Fee](/tokenomics-flash/time-switch.md) is sent to the [Flash Capacitor](/tokenomics-flash/flash-capacitor.md).
3. The only way to remove Time Fees from the Flash Capacitor is by depositing [FLASH](/tokenomics-flash.md) tokens
4. The deposited FLASH tokens are sent to the [Flashstake Treasury](/tokenomics-flash/flashstake-treasury.md), further reducing the circulating supply and providing necessary capital for continuous development. 

## Auction Premium

FLASH is the exclusive token for paying the premium fee for a FlashNFT.

1. When anyone [borrows](/liquid-stake-flashlend.md#borrowing) from their [FlashNFT](/time-based-tokens-tbts/flashnft.md), [fc-Tokens](/liquid-stake-flashlend.md#fc-tokens) are minted.
2. Anytime a FlashNFT that has been borrowed against (and has not been fully [paid back ](/liquid-stake-flashlend.md#paying-back)yet) has matured, based on the stake duration, it will go to [Auction](/liquid-stake-flashlend.md#auctions).
3. The first 7 days a FlashNFT is at auction, it is in a [reverse auction phase](/liquid-stake-flashlend.md#reverse-dutch-auction-phase) that FLASH tokens must also be paid. 
4. The deposited FLASH tokens are sent to the [Flashstake Treasury](/tokenomics-flash/flashstake-treasury.md), further reducing the circulating supply and providing necessary capital for continuous development.