> For the complete documentation index, see [llms.txt](https://docs.notional.finance/v3-risk-parameters/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.notional.finance/v3-risk-parameters/ntokens-lp/ntokens.md).

# nTokens

nTokens are ERC20 assets that are redeemable for a share of Notional’s total liquidity in a given currency across all active maturities. nToken accounts hold a basket of Prime Cash and fCash either directly or through liquidity tokens which represent a claim on the Prime Cash and fCash that is held in fCash liquidity pools. Learn more about nTokens [here](https://docs.notional.finance/notional-v3/ntokens/what-are-ntokens).

## nToken Parameters

Notional's governance has the ability to set:

* Deposit shares
* Leverage thresholds
* Residual purchase incentives
* Cash withholding buffers
* nToken incentives