# cTokens cTokens are a *yield-bearing deposit receipt*. It means you can convert USDC into cUSDC to get a tradeable token that also earns interest on Solend. You can hold this token in your wallet to continue earning interest, or you can send it to someone else, and they’ll earn interest. cTokens open up a world of possibilities for developer integrations. Because cTokens are just regular SPL tokens, they’re easily composable and compatible with just about everything! If you’re working on something that uses Solend cTokens, check out our [Developer Portal](https://dev.solend.fi/) and [Grants Program](https://dev.solend.fi/docs/grants)! Take note that cTokens currently do not have liquidity mining, such as additional SLND or MNDE rewards. You can mint cTokens [here](https://solend.fi/ctokens). {% embed url="" %} Normally, if you are using our Main Lend/Borrow, your cTokens will be held in custody by our smart contracts to be used as "collateral" for borrowing against it. This tool is mainly for developers to integrate our cTokens into their protocols, and then direct their users here to mint their cTokens. ### cToken Ratio Calculations: * cToken Ratio acts as a % ownership of the LP * For a pool with 99 USDC, if you deposit 1 USDC, you will own 1% of the pool * When the RefreshReserve occurs, the pool now has 110 USDC. Your 1% is now worth 1.1 USDC. cToken Ratio is calculated by taking the Total USDC in the reserves / cUSDC in Circulation. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.save.finance/architecture/ctokens.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.