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

# Boardroom

**Epoch duration:** 6 hours\
\
Deposits / Withdrawal of PSHARE into the Boardroom will lock PSHARE for 4 epochs (24hrs) and PINGU rewards for 2 epochs (12hrs). 

The above is the same for PINGU rewards claiming, this will lock staked PSHARE for 4 epochs (24hrs) and the next PINGU rewards can only be claimed after 2 epochs (12hrs).

### Distribution of PINGU during Expansion

**80%** as Reward for Boardroom PSHARE stakers\
**15%** goes to DAO fund\
**5%** goes to DEV fund\
\
**Epoch Expansion:** Current expansion cap base on PINGU supply, if there are bonds to be redeemed, 65% of minted PINGU goes to treasury until it’s sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate.

## **Shares** 

Stake your LP to earn PSHARE share tokens

Shares Pools (Shares Reward) available for 180 days:

PSHARE-BUSD LP: 30,000\
PINGU-BUSD LP: 20,000<br>

## Bonds

PBOND (bond tokens) are available for purchase when PINGU falls below the 1 BUSD peg. If PINGU's TWAP is between 1.00 and 1.01, neither PBOND nor PENGU will be issued.

e.g. if PINGU's TWAP < 1, exchange PINGU for PBOND will be in a 1:1 ratio.

PBOND (bond tokens) are available for redemption when PINGU goes above the 1 BUSD peg.

To encourage redemption of PBOND for PINGU when PENGU TWAP > 1.1 and incentivize users to redeem at a higher price, PBOND redemption will be more profitable with a higher PINGU TWAP value, of which PBOND to PINGU ratio will be 1:R, where R can be calculated in the formula as shown below:

R=1+\[(PINGU(​twapprice)−1)∗coeff)]