> For the complete documentation index, see [llms.txt](https://docs.kanon.art/k21/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kanon.art/k21/k21-token.md).

# K21 Token

The K21 ERC-20 token represents partial ownership of the vault collection. The token has a hard cap of 21 million. Roughly half of the token supply was issued to purchase artworks and support social causes. Just over 21% of the tokens will be widely distributed to the community through various mechanisms including mining programs and high initial K21 / ETH ratio locked liquidity pools. \
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K21 is not a governance token but it does carry the right to vote against a buyout of the entire vault through a bid function in a dedicated smart contract. Read more about the buyout below.\
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Token holders will be able to veto the bid with a 21% consensus. If they don’t, each token holder will receive a pro-rata share of the proceeds and the 21 NFTs will be released to the successful bidder.\
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For a detailed overview of the K21 token allocation and vesting schedule please refer to our launch post on [Medium](https://kanondotart.medium.com/art-for-the-next-100-years-df25270583a5).