# LLP

LLP consists of an index of assets used for swaps and leverage trading. It can be minted using any index asset and burnt to redeem any index asset. The price for minting and redemption is calculated based on (total worth of assets in index including profits and losses of open positions) / (LLP supply).

For Fantom, holders of the LLP token earn [Escrowed LIF3 (esLIF3) rewards](/lif3-trade/rewards/escrowed-lif3.md) and a percentage of the platform fees distributed in FTM.

Note that the fees distributed are based on the number after deducting [referral rewards](/lif3-trade/referrals.md) and the network costs of keepers.

Staked LLP token address (Fantom Opera): [0x447bfD0947846Eb1d7C54069D7f7457a54793447](https://ftmscan.com/token/0x447bfD0947846Eb1d7C54069D7f7457a54793447)

Note that LLP is specific to the network you mint it on, it is not directly transferrable between networks and the price / rewards to the tokens will differ between networks.

As LLP holders provide liquidity for leverage trading, they will make a profit when leverage traders make a loss and vice versa.

Past PnL data, LLP price chart and other stats can be viewed on <https://trade-stats.lif3.com/>.

{% content-ref url="/pages/RUYftU7H8QqPYrKUpL6H" %}
[Minting and Redeeming](/lif3-trade/llp/minting-and-redeeming.md)
{% endcontent-ref %}

{% content-ref url="/pages/QPFtDxU4BDVP8QxKt9nc" %}
[Rebalancing](/lif3-trade/llp/rebalancing.md)
{% endcontent-ref %}


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