# Product Revenue Tokens (PRTs)

## Overview

Product Revenue Tokens (PRTs) are freely transferable ERC-20 tokens that entitle holders to fees generated by an Index Coop product. PRTs are a mechanism to incentivize product-specific behaviour and gauge market sentiment about a product's commercial outlook. 

Each PRT-enabled product will have a fixed supply of 10,000 PRTs specific to that product, each representing a proportional claim on that product’s revenue. The PRT holder must stake the PRT to claim the fees generated by a product; unstaked PRTs are not eligible to claim fees. PRT staking will be restricted to non-U.S. persons; more on this in the [Staking Requirements](https://docs.google.com/document/d/1Ta5VXpIx1n3dKJkudAgARVNmanKKFA7927A3q6xJ5_A/edit#heading=h.u8nibsansj2w) section.

## Participating in a Pre-sale

Pre-sale participants can earn incentives , often in the form of PRTs, by depositing to a product before it is launched. When a product is in the pre-sale process, the token has already been deployed onchain, however, it is not in it's final composition. Instead, the composition of the product will be a single asset such as wETH or USDC. After a successful pre-sale, the product will be rebalanced into the initial composition. Keeping the pre-sale composition to a single token reduces the gas cost for issuance and redemption.

To participate in a pre-sale, follow these steps:

1. Go to Index Coop's Pre-sale Page
2. Select the Pre-sale you want to deposit to
3. Choose the amount you want to deposit
4. Approve the deposit token
5. Deposit

## Staking PRTs

*coming soon*