> For the complete documentation index, see [llms.txt](https://docs.moremarkets.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.moremarkets.xyz/protocol-concepts/tokens/positional-tokens.md).

# Positional Tokens

Positional Tokens are tokens that represent Receipt Chain position ownership in the Principal Chain. These tokens are fungible and transferrable. Positional Token holders can participate in the Principal Chain’s DeFi ecosystem with these tokens or put these Positional Tokens into different vaults to interact with another Receipt Chain’s ecosystem.<br>

The pricing of the Positional Token can be calculated as:\ <br>

$$
\text{Total} = \text{principal} + \sum\_{i=1}^{n} r\_i
$$

where r is the reward that is being accumulated over time.