# What's the MAFIA Token?

As PLS enters the pool, the Godfather mints the MAFIA token. The MAFIA token represents your % ownership in the pool.&#x20;

MAFIA has two values; the Treasury Value and the Market Value.&#x20;

1. Treasury Value (or Redemption Value) is based on the estimated amount of PLS redeemable per MAFIA when the validator exit date occurs (August 15, 2024).&#x20;
2. The Market Value is the price of MAFIA on Pulsex at any point in time. The Market Value, set on exchanges, may vary widely from the treasury value, cycling between trading at a discount and premium to the underlying value of the Validators (see chart below).

With the MAFIA token, you can sell it on PulseX (assuming there's liquidity provided by other community members), or hold it until it can be redeemed for PLS (when the Validator "Exit Date" occurs on August 15, 2024).

<figure><img src="https://2774559601-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FI8SPW0pE6MzrGSXm9ujt%2Fuploads%2F6WpLQ7jtOxJfZTXWavxk%2FScreenshot%202023-07-13%20at%2012.50.57%20PM.png?alt=media&#x26;token=6aebc906-d320-45ab-8463-d7279665769f" alt=""><figcaption><p>As time goes on, the Treasury Value will grow while the market value may trade at a premium or discount on Pulsex.</p></figcaption></figure>

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