# What is STAKED, and why do I receive fewer STAKED than TON?

When you stake TON in liquid staking, you receive **STAKED** tokens.

STAKED is not a fixed 1:1 version of TON. It represents your **share of a staking pool**.

## STAKED is a pool share, not another version of TON

* **TON** is the base coin.
* **STAKED** represents your share of the pool.
* **STAKED can become worth more TON over time** as rewards build up in the pool.

Because STAKED represents a share of the pool, its conversion rate to TON can change over time.

## Why 100 TON does not always become 100 STAKED

This is normal in liquid staking.

You may receive fewer STAKED tokens because:

* 1 STAKED can already represent **more than 1 TON** at the current pool rate.
* The pool already includes previously accumulated rewards.
* You enter the pool at the current conversion rate, not at a fixed 1:1 rate.

So the number of STAKED tokens can be lower, while the value you receive still matches your deposit at the time you enter.

## Does receiving fewer STAKED mean I lost value?

No. Receiving fewer STAKED does **not** mean you lost value.

You are entering a reward-generating pool. As rewards accumulate, the STAKED-to-TON conversion rate is expected to improve over time.

## What happens when you unstake

When you unstake, your STAKED is converted back to TON at the current pool rate.

## In short

* STAKED represents a share of the pool, not a fixed copy of TON.
* Getting less STAKED than the amount of TON you staked is normal.
* Growth is reflected mainly in the conversion value, not necessarily in the number of STAKED tokens.

## Related articles

* [How to stake in MyTonWallet?](/intro/staking/how-to-stake-in-mytonwallet.md).
* [How to withdraw assets from staking?](/intro/staking/how-to-withdraw-assets-from-staking.md).
* [How staking rewards are calculated: rounds, APY, and why payouts may look smaller](/intro/staking/how-staking-rewards-are-calculated-rounds-and-apy.md).


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