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

# $JPGD

<div align="left"><figure><img src="/files/bZvxF21ohe4BZ5Lx9Ouu" alt="" width="270"><figcaption><p>JPGD, JPEG'd Governance and utility token</p></figcaption></figure></div>

## Overview

JPGD is the protocol's governance token and has utilities in the JPEG'd ecosystem.&#x20;

## Utility

JPG holder can:

* JPGD vote on governance proposals (PIP) for JPEG'd DAO
* increase the LTV on borrowing positions ([LTV boost](https://docs.jpegd.io/jpegd-dao/about-the-lending-protocol/jpeg-locking-mechanics/ltv-boosts))
* increase the credit limit for rarer NFTs ([Traits boost](https://docs.jpegd.io/jpegd-dao/about-the-lending-protocol/jpeg-locking-mechanics/traits-boost-lock))

More details about the $JPGD tokenomics can be found in the [Supply Graph](/jpegd-dao/tokenomics/supply-graph.md) or on [Coingecko](https://www.coingecko.com/en/coins/jpeg-d)

## Migration

JPGD is the new governance token that replaces JPEG. If you hold JPEG, you can migrate at any time.

Learn how to [Migrate JPEG to JPGD](/jpegd-dao/cdp-lending-guides/migrate-jpeg-to-jpgd.md)