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fix(tokens-ledgers): rename Tokenomics to Network Economics
- Rename tokenomics.md to network-economics.md - Update title to "Network Economics" and description - Rename ## SNS tokenomics section to ## SNS economics - Update inbound links in ledgers.md, governance.md, index.md - Leave 'tokenomics' in governance/launching.md unchanged: domain-appropriate terminology in the SNS launch context (NNS community uses it; dashboard tool is named "SNS Tokenomics Analyzer")
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docs/concepts/governance.md

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---
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title: "Governance"
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description: "How ICP is governed: the NNS, SNS for app governance, neurons, proposals, and tokenomics fundamentals"
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description: "How ICP is governed: the NNS, SNS for app governance, neurons, proposals, and economics fundamentals"
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sidebar:
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order: 13
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---
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Rewards accumulate as **maturity** rather than ICP directly. Neurons can convert maturity to ICP (with a modulation of ±5% applied to the mint amount) or merge maturity back into their stake to compound future rewards.
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The reward rate declines over time as the protocol matures, converging toward a lower floor rate over roughly a decade. See [Tokenomics](tokenomics.md) for details on the reward rate schedule and supply dynamics.
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The reward rate declines over time as the protocol matures, converging toward a lower floor rate over roughly a decade. See [Network economics](network-economics.md) for details on the reward rate schedule and supply dynamics.
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## The Service Nervous System
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docs/concepts/index.md

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## Cryptography and cross-chain
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- **[Chain-Key Cryptography](chain-key-cryptography.md)**: Threshold signatures that enable cross-chain integration, fast finality, and chain evolution.
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- **[Chain Fusion](chain-fusion.md)**: How ICP connects to Bitcoin, Ethereum, Solana, and other blockchains natively.
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- **[Chain Fusion](chain-fusion/index.md)**: How ICP connects to Bitcoin, Ethereum, Solana, and other blockchains natively.
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- **[VetKeys](vetkeys.md)**: Verifiable encrypted threshold key derivation for onchain encryption and secret management.
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## Trust and governance
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- **[Security Model](security.md)**: Canister isolation, trust boundaries, and the threat model for app developers.
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- **[Governance](governance.md)**: The NNS, SNS for app governance, neurons, and proposals.
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- **[Tokenomics](tokenomics.md)**: ICP token uses, voting rewards, supply dynamics, and SNS token economics.
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- **[Network economics](network-economics.md)**: ICP uses, governance rewards, supply dynamics, and SNS asset configuration.
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- **[Ledgers](ledgers.md)**: How ICRC and ICP ledgers work, address formats, and scaling architecture.

docs/concepts/ledgers.md

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## Next steps
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- [Digital assets guide](../guides/digital-assets/ledgers.md): ICRC-1/2 API usage, transfer examples, balance queries
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- [Tokenomics](tokenomics.md): how ICP and SNS assets are economically designed
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- [Network economics](network-economics.md): how ICP and SNS assets are economically designed
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- [Cycles](cycles.md): cycles as the computational fuel that ledger canisters and other canisters consume
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- [Chain-key tokens](chain-fusion.md): ckBTC, ckETH, and other 1:1 backed asset ledgers
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title: "Tokenomics"
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description: "ICP and SNS economics: uses, governance rewards, supply dynamics, and SNS asset configuration"
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title: "Network Economics"
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description: "How the Internet Computer's economic model works: ICP uses, governance rewards, supply dynamics, and SNS asset configuration"
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The net effect on supply depends on market conditions: when cycle demand is high (more computation), more ICP is burned. When governance participation is high, more ICP is minted. The [NNS dashboard](https://dashboard.internetcomputer.org/governance) shows live estimates of supply, staking, and annualized voting rewards.
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## SNS tokenomics
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## SNS economics
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Each SNS deploys its own governance asset alongside its canister, with a tokenomics configuration set at launch. The mechanics are similar to the NNS: staking for voting power, configurable voting reward minting, transaction fee burning, and a treasury for SNS-controlled spending.
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Each SNS deploys its own governance asset alongside its canister, with an economics configuration set at launch. The mechanics are similar to the NNS: staking for voting power, configurable voting reward minting, transaction fee burning, and a treasury for SNS-controlled spending.
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Key parameters a team configures for their SNS:
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- **Reward rate**: whether and at what rate the SNS mints new assets for governance participation.
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- **Transaction fees**: a per-transfer fee that is burned, creating deflationary pressure.
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SNS tokenomics is entirely configurable and independent of the NNS ICP tokenomics model. Two SNS instances can have very different economic designs.
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SNS economics is entirely configurable and independent of the NNS economic model. Two SNS instances can have very different economic designs.
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## Next steps
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