> For the complete documentation index, see [llms.txt](https://docs.peapods.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.peapods.finance/protocol-revenue/revenue-share.md).

# Revenue Share

<figure><img src="/files/C5ue4NMrcdYrrj6V63pd" alt=""><figcaption></figcaption></figure>

Revenue allocated to buy and burn vlPEAS functions as a backing-based yield mechanism, similar to how Pod tokens (pTKN) accrue value. When vlPEAS is burned, it reduces the supply of outstanding vlPEAS while leaving the underlying PEAS untouched. As a result, each remaining vlPEAS represents a larger share of the underlying PEAS tokens.

This process increases the claimable PEAS backing per vlPEAS, providing holders with non-emissive, protocol-native yield in the form of value accrual.

This structure has several key properties:

**Backed Yield**:\
vlPEAS holders earn PEAS-denominated yield as the collateral backing ratio (PEAS per vlPEAS) increases with every vlPEAS burn.

**Non-Dilutive**:\
No new vlPEAS or PEAS are minted as the yield is derived purely from treasury growth and vlPEAS supply reduction.

**Governance Aligned**:\
Since vlPEAS represents both voting power and yield from Treasury-assigned revenue, its value increases in tandem with protocol usage.

The percentage of revenue allocated to these burns is governance-controlled, allowing vlPEAS holders to balance direct yield accrual with other strategic deployments. This system transforms vlPEAS into a PEAS-yielding governance token, where participation is rewarded through growing backing as opposed to the inflation model that is common amongst governance tokens.