> For the complete documentation index, see [llms.txt](https://symbiotik.gitbook.io/symbiotik/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://symbiotik.gitbook.io/symbiotik/english-1/features/bond.md).

# Bond

![](https://2722888413-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FUWsQJKc5nmn01vi2lbmS%2Fuploads%2FFVPJ06Jw6GBa0eM4GcDr%2Fsym-te-1-bond%20\(1\).png?alt=media\&token=e0e23dd4-1212-4653-a0fb-998d11d66084)

* Bond buyers provide liquidity to Treasury with quoteToken (Reserve Assets such as USDT, KDAI), receive sSYM with the discounted price during the vesting period.
* Payment Token, targetDebt (total amount of Bond sales in the market), maxPayout (daily maximum Bond sales), Bond Price, and Vesting Period are varied in each Bond Market.
* Please refer to the following equations for Bond features of symbiotik.

$$
bondPrice = marketPrice\*(1-discount)
$$

$$
discount = debtRatio  \*controlVariable
$$

$$
debtRatio = \dfrac{bondsOutstanding}{SYMtotalSupply}
$$

$$
controlVariable = \dfrac{bondPrice \*SYMtotalSupply}{targetDebt}
$$