# $CM (Crescent Moon token)

**Just as the crescent moon takes time to become a full moon**, **$CM** is the time-locked version of $FM and it is not transferable between wallets. With $CM, you can stake it to earn even more rewards or convert it to $FM.

## 💰 What rewards do I get by staking $CM?

You can earn the following rewards by staking $CM:

* **More $CM**
* **Protocol revenue in $CRO** - coming from 20% of all Open & Close fees collected from traders

$CM rewards generated by $FM staking will be given at a **fixed rate per second**. Each staked $CM will enjoy the same reward APR% as $FM, which means that staking $CM increases your share of rewards; similar to if you had staked more $FM into the staking pool.

## 💱 How can I convert $CM to $FM?

You can convert $CM to $FM every sec for **365 days** at the exchange rate of **1:1**. Converted $CM  can be claimed at any time. 

To initiate the conversion, you need to have sufficient **converting power**, which stands for the initial amount of staked $FM or $MLP used to earn the $CM rewards. 

Insufficient converting power means you have unstaked some of the $FM/$MLP earlier. You will either have to

1. Reduce the number of $CM you want to convert, or
2. Stake more $FM/$MLP to increase your converting power

Once the conversion is initiated, the initial amount of staked $FM or $MLP that was used to earn the $CM rewards **will be reserved**. The reserved $FM/$MLP can be unstaked once the conversion is completed.

> **Example**:
>
> You have staked 1000 $FM and earned 10 $CM from the staking. 1000 $FM will be your converting power to convert the 10 $CM into 10 $FM.

Note that staked $FM/$MLP reserved for conversion will **continue to earn rewards**, while $CM that has been unstaked and deposited for conversion will not be earning staking rewards anymore.

{% hint style="info" %}

* The converting power balance will only update after the corresponding $CM rewards from the $MLP or $FM staking pools are claimed. If the rewards are not claimed, the converting power balance will remain unchanged, even if more is staked into the reward pools.
  {% endhint %}

## 🖐️ How can I get $CM?

It can be earned by staking $FM or $MLP.