# Policy

 **Neverland** features policy constants that allow us to optimize the system.

## Mint <a href="#bonds" id="bonds"></a>

&#x20;Minting **HOOK** is like as purchasing a bond from **Neverland**.

&#x20;The **BCV** allows us to scale the rate at which bond premiums increase. A higher BCV means a lower discount for bonders and more protocol profit. A lower BCV means a higher discount for bonders and less protocol profit.

&#x20;The **vesting term** determines how long it takes for bonds to become fully redeemable. A longer term means lower inflation and lower bond demand.

## Sales <a href="#sales" id="sales"></a>

&#x20;The **DCV** allows us to scale protocol buy pressure up or down. A higher DCV means more buy pressure and higher deflation. A lower DCV means less buy pressure and a weaker floor.

## Treasury

&#x20;Profit Allocations are the only treasury variable. This allows us to choose who receives profits from the protocol.

## Staking <a href="#staking" id="staking"></a>

&#x20;There are no variables in the staking contract. **HOOK** and **CLOCK** are always redeemable 1:1, and profits are always distributed equally through rebase.


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