> For the complete documentation index, see [llms.txt](https://docs.cvg.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cvg.finance/staking/tokenized-positions.md). # Tokenized positions Since Convergence’s rewards distribution is cycle-based (rewards for cycle N+1 are distributed at the beginning of ctycle N+2), staking positions are not fungibles. Thus, instead of issuing *Interest Bearing* tokens to represent staking positions, Convergence issues *Interest Bearing* **`NFTs`**. These **`NFTs`** can be traded on the open market or sent to other wallets. A user may iterate on an existing staking position, or create a new one at any time. When a new position is created, a new **`NFT`** is minted to represent this position. Each **`NFT`** has a “*lock*” function that forbids its owner to either withdraw funds or claim rewards during a given duration. This function has been implemented so **`NFT`** buyers can’t be frontrunned and receive an empty **`NFT`**. --- # 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: ``` GET https://docs.cvg.finance/staking/tokenized-positions.md?ask= ``` The question should be specific, self-contained, and written in natural language. 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.