> For the complete documentation index, see [llms.txt](https://docs.pulselend.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.pulselend.com/about-pulselend/tokenomics/emissions/plend-emissions-and-max-liquidity-locking-apr.md).

# PLEND Emissions and Max Liquidity Locking APR

**PLEND Emissions** 

Users who deposit but do not add value to the PulseLend protocol will still earn the standard market rates, but they will not be eligible for **PLEND emissions**. To activate PLEND emissions on deposits and borrows, users are required to **lock a minimum of 5% Liquidity tokens** relative to the size of their deposits (in USD terms).

**Examples:**

* **User 1:** Makes a deposit of $1M USDC on PulseLend with $0 of Liquidity tokens locked. They earn a base rate (APY) but aren't eligible for incentivized emissions.
* **User 2:** Makes a deposit of $1,000 USDC on PulseLend with $50 Liquidity tokens locked. They qualify for PLEND emissions, provided the minimum 5% threshold is met.

This approach creates a self-perpetuating cycle that attracts long-term liquidity and rewards those who align with the long-term success of the protocol.

**Max Liquidity Locking APR** On the Markets Page, users can review the **Max Liquidity Locking APR** and a breakdown of the APR per asset.

**How is the Maximum Locking APR calculated?**

* **Definition:** The current maximum Liquidity locking APR for a 1 year lock duration
* **Calculation:** The 1 Month Locking APR multiplied by the 1 Year Lock Multiplier (25x)

The 1 month locking APR:

* **Definition:** The current locking APR for a 1 month duration
* **Calculation:** The share of Total 1 Month Locked Annualized Protocol Fees divided by the Total 1 Month Locked share of the Liquidity Pool Size

The share of 1 Month Locked Protocol Fees:

* **Calculation:** The 1 Month Locked Share of Protocol Power divided by the Total Protocol Locking Power

The Total Protocol Locking Power:

* **Calculation:** The sum of (1 Month Locked Share of Liquidity Pool Size \* 1 Month Locked Multiplier (currently 1x)), (3 Month Locked Share of Liquidity Pool Size \* 3 Month Locked Multipler (currently 4x)), (6 month Locked Share of Liquidity Pool Size \* 6 month Locked Multiplier (currently 10x)), and (12 month Locked Share of Liquidity Pool Size \* 12 Month Locked Multipler). This gives the Total Protocol Locking Power.