> For the complete documentation index, see [llms.txt](https://docs.cleo.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cleo.exchange/cleo-tokenomics/xcleo.md).

# xCLEO

<figure><img src="/files/4XCpYkpgphPYgH23jjkL" alt="" width="188"><figcaption></figcaption></figure>

**What is xCLEO?**\
xCLEO is a new solution developed by the Cleopatra team to address the sustainability challenge associated with the natural fluctuations in flywheel operations. It serves as a non-transferable representation of 1 unit of CLEO, securely stored within the xCLEO token smart contract. xCLEO provides users with several conversion options to both CLEO and veCELO, each with unique penalties and vesting periods.

{% hint style="info" %}
xCLEO is not a replacement for CLEO. Users still earn CLEO emissions, rebases, and other sources.
{% endhint %}