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

# What are ‘Coupons'?

**Coupons are financial instruments representing a debt. They can be purchased by burning SD from your wallet and redeemed for SD when the TWAP price is back or higher to > 1$. The amount of coupons redeemable per epoch is equivalent to the supply expansion and only when all coupons are redeemed, will the bounded assets start earning rewards again ( e.g. the supply increases by 50.000 SD, 50.000 coupons will be redeemable).  Note that the coupons expire after 360 epochs (30 days).**