> For the complete documentation index, see [llms.txt](https://smiley-1.gitbook.io/smileypaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://smiley-1.gitbook.io/smileypaper/the-global-currency-standard/tokenomics.md). # Tokenomics No cryptocurrency whitepaper would be complete without discussing tokenomics. For Smiley, the tokenomics are very simple. The supply will be capped at 420,690,000,000,000,000. 66% of the total supply will be distributed to presale participants at the end of the presale. The remaining 34% will be deposited as liquidity. Smiley has zero buy and sell taxes. This allows for frictionless transactions, enabling Smiley to become the new global standard of exchange.