> For the complete documentation index, see [llms.txt](https://docs.aqua.network/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aqua.network/aqua-and-ice/what-are-aqua-tokens.md).

# The AQUA token

<figure><img src="/files/VNLbQWXlsrNJkvfJahsq" alt="AQUA token"><figcaption></figcaption></figure>

AQUA is the core token of Aquarius and serves various purposes within the ecosystem.

### ICE

ICE is the locked version of AQUA. By locking their tokens for extended periods, AQUA holders receive [ICE tokens and its derivatives](/aqua-and-ice/ice-tokens-locking-aqua-and-getting-benefits.md) in return. These ICE tokens unlock liquidity and governance voting.

Besides, ICE being held by liquidity providers also increases the amount of SDEX and AMM rewards thanks to [ICE boost](/aqua-and-ice/ice-boosts-how-to-maximize-lp-rewards.md).

### SDEX & AMM rewards

Once incentivized, market makers on the Stellar DEX (SDEX) and Aquarius AMM liquidity providers can earn [SDEX rewards](/voting-and-rewards/sdex-rewards.md) & [Aquarius AMM rewards](/voting-and-rewards/aquarius-amm-rewards.md).

Besides, AQUA tokens can be received as [bribes](/for-projects/what-are-bribes.md) for voting for specific markets, or [swapped](/user-guides/swap.md) in return for other Stellar assets.

### Liquidity voting

To vote for Aquarius markets, AQUA holders should [freeze their tokens into ICE](/aqua-and-ice/ice-tokens-locking-aqua-and-getting-benefits.md). This way they can influence which markets generate more rewards for liquidity providers, as well as receive AQUA as bribes.

### Aquarius Governance

ICE holders also have the opportunity to participate in [governance](/governance/aquarius-governance-community-led-decision-making.md), shaping and deciding on various aspects of Aquarius.