> For the complete documentation index, see [llms.txt](https://docs.cables.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cables.finance/phase-one/liquid-staking-tokens-foundation-of-the-protocol.md). # Liquid Staking Tokens: Foundation of the Protocol **How cTokens Power the Cables Ecosystem** The Cables Liquid Staking Protocol enables users to mint cTokens by staking tokenized real-world assets such as gold, euro, and yen. These tokens - including cXAU, cEUR, and cJPY - are fully onchain, non-custodial representations of real world value, designed to accrue predictable, risk-free yield over time. Each cToken is yield-bearing by design. The yield comes from macroeconomic factors like interest rate differentials and FX funding costs, and is reflected directly within the token’s mechanics. Users retain full flexibility to move, swap, or restake assets without interrupting their yield accumulation. cTokens serve as the foundational layer of the Cables ecosystem. They unlock participation in staking programs, ecosystem tiering, and future product access — allowing users to grow their position through active use rather than static holding. The system is structured to deliver the security and transparency of traditional finance, combined with the flexibility and composability of DeFi. All reserves are fully collateralized and transparently hedged, with data verifiable through real-time attestations. This ensures each cToken remains stable, usable, and productive from the moment it’s minted. By embedding yield into the asset itself, Cables eliminates the need for complex wrappers, third-party vaults, or off-platform incentives — turning tokenized real-world assets into reliable primitives for onchain financial activity. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.cables.finance/phase-one/liquid-staking-tokens-foundation-of-the-protocol.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.