## Overview
JPGD is the protocol's governance token and has utilities in the JPEG'd ecosystem.
## 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)
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