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The Two Tokens: cCNPY and CPLQ

canoLiq works with three assets: CNPY (Canopy's native coin, which the protocol does not issue) and two tokens it does manage — cCNPY and CPLQ. They do completely different jobs. The quickest way to keep them straight:

cCNPYCPLQ
What it isLiquid-staking receiptGovernance & value-capture token
SupplyElastic — minted on deposit, burned on redeemFixed: 100,000,000 CPLQ, forever
How you get itDeposit CNPYGenesis distribution (with vesting)
Why you hold itEarn staking yield, stay liquidVote, and share in protocol value
How its value growsExchange rate rises as rewards accrueBuyback-and-burn shrinks supply; lock boosts

cCNPY — your stake, but liquid​

When you deposit CNPY you receive cCNPY. Think of it as a claim check on a growing pool of CNPY. You are not locked in: cCNPY is an ordinary balance you can hold, send, or use elsewhere, all while the underlying CNPY keeps earning.

  • It is yield-bearing by price, not by balance. Your cCNPY balance stays the same; each unit just becomes redeemable for more CNPY as rewards arrive. The conversion rate is:

    exchange rate = total pooled CNPY ÷ total cCNPY supply

  • Redeeming burns cCNPY and queues a CNPY redemption that matures after an unbonding window, after which you claim it. See Deposit & Redeem.

  • Precision: amounts are tracked in uCNPY (micro-CNPY, 6 decimals), so 1 CNPY = 1,000,000 uCNPY.

CPLQ — the governance token​

CPLQ is a fixed supply of 100,000,000 (i.e. 100,000,000,000,000 uCPLQ at 6-decimal precision). The entire supply is minted at genesis and handed out across distribution buckets (community, team, DAO treasury, liquidity, …), most of them on cliff + linear vesting schedules.

What CPLQ is for:

  • Governance. Stake CPLQ to gain voting weight, then create and vote on proposals. Voting weight is snapshotted at the moment a proposal is created, which prevents last-minute "flash-stake" vote buying.
  • Vote-escrow boosts. Lock your staked CPLQ for 3–24 months to multiply your voting weight (up to 4×) and earn a larger share of buyback distributions. See Vote-Escrow.
  • Value capture. The protocol routes 15% of every fee into a buyback pool. Governance can spend it to buy back and burn CPLQ (reducing supply) or distribute acquired CPLQ to stakers. See Buyback.

How they fit together​

CNPY is the money. cCNPY makes staked CNPY liquid and productive. CPLQ governs the whole system and captures a slice of its earnings. A typical participant might hold cCNPY for yield and stake CPLQ to steer the protocol — the two roles are independent.

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