# 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](https://docs.flashstake.io/time-based-tokens-tbts) are minted.
2. Anytime TBTs are minted, a [Time Fee](https://docs.flashstake.io/tokenomics-flash/time-switch) is sent to the [Flash Capacitor](https://docs.flashstake.io/tokenomics-flash/flash-capacitor).
3. The only way to remove Time Fees from the Flash Capacitor is by depositing [FLASH](https://docs.flashstake.io/tokenomics-flash) tokens
4. The deposited FLASH tokens are sent to the [Flashstake Treasury](https://docs.flashstake.io/tokenomics-flash/flashstake-treasury), 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](https://docs.flashstake.io/liquid-stake-flashlend#borrowing) from their [FlashNFT](https://docs.flashstake.io/time-based-tokens-tbts/flashnft), [fc-Tokens](https://docs.flashstake.io/liquid-stake-flashlend#fc-tokens) are minted.
2. Anytime a FlashNFT that has been borrowed against (and has not been fully [paid back ](https://docs.flashstake.io/liquid-stake-flashlend#paying-back)yet) has matured, based on the stake duration, it will go to [Auction](https://docs.flashstake.io/liquid-stake-flashlend#auctions).
3. The first 7 days a FlashNFT is at auction, it is in a [reverse auction phase](https://docs.flashstake.io/liquid-stake-flashlend#reverse-dutch-auction-phase) that FLASH tokens must also be paid. 
4. The deposited FLASH tokens are sent to the [Flashstake Treasury](https://docs.flashstake.io/tokenomics-flash/flashstake-treasury), further reducing the circulating supply and providing necessary capital for continuous development.