> ## Documentation Index
> Fetch the complete documentation index at: https://docs.auora.gg/llms.txt
> Use this file to discover all available pages before exploring further.

# Tokenomics Overview

> How value flows through Auora.

Auora is, first and foremost, a **product**. There is no token gating play. There is no governance theater. There is no airdrop farm pretending to be an app. The value flows on the platform are simple, published, and enforced by the smart contracts themselves.

<CardGroup cols={3}>
  <Card title="Fees" icon="receipt" href="/tokenomics/fees">
    Flat, published, on-chain enforced.
  </Card>

  <Card title="Treasury" icon="building-columns" href="/tokenomics/treasury">
    What the protocol earns and where it goes.
  </Card>

  <Card title="Referrals" icon="user-group" href="/tokenomics/referrals">
    How affiliates earn a share of the rake from players they bring.
  </Card>
</CardGroup>

## The flow in one diagram

```
   Players' stakes
        │
        ▼
   ┌─────────────┐
   │  Round pot  │ (held by smart contract, never by us)
   └──────┬──────┘
          │ at settlement, oracle-verified
          ▼
   ┌───────────────────────────────────┐
   │  Pot, split:                      │
   │   - winning side (pro-rata)       │
   │   - flat published rake           │
   └───────────────┬───────────────────┘
                   │
                   ▼
        Rake routed on-chain to:
         - oracle fees
         - operations & engineering
         - security & bug bounty
         - community treasury
         - referral payouts
```

Every box in that diagram is enforced by code, not policy. The split ratios are visible in the contract and auditable by anyone.