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

# $MBOND

**$MBOND** are unique tokens that can be utilised to help stabilise **$MTOMB** price around peg (1 $METIS) by reducing circulating supply of **$MTOMB** if the TWAP (time-weighted-average-price) goes below peg (1 $METIS). 

**$MBOND** can be purchased only on contraction periods, ie: when TWAP of **$MTOMB** is below 1. **$MBOND** can be found in the Bonds tab on the website. 

Every new epoch on contraction periods, **$MBOND** are issued in the amount of 3% of current **$MTOMB** circulating supply, with a max debt amount of 35%. This means that if bonds reach 35% of circulating supply of **$MTOMB**, no more bonds will be issued.

 Note: **$MBOND** TWAP is based on **$MTOMB** price TWAP from the previous epoch as it ends. This mean that **$MTOMB** TWAP is real-time and **$MBOND** TWAP is not.

You can buy **$MBOND** if any are available, anyone can buy as much **$MBOND** as they want as long as they have enough **$MTOMB** to pay for them. 

There is a limit amount (3% of **$MTOMB** current circulating supply) of available **$MBOND** per epoch while on contraction periods, and are sold as first come first serve. 

The first and most important reason for buying **$MBOND** is that they help maintain the peg but **$MBOND** are not the only measure used to keep the protocol on track, more on that on DAO Fund section.

**$MBOND** do not have an expiration date, so you can view them as an investment on the protocol, because longterm you get benefits from holding **$MBOND** and redeeming when the protocol has recovered.