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

# Circulation

<figure><img src="/files/vWaxAFUEZh9SVWiiHEF8" alt=""><figcaption></figcaption></figure>

The maximum supply of APOLLO is 1,000,000. Unlocked APOLLO will be released to the market gradually. Upon the launch, there will be initial liquidity, treasury, and the airdrop supply which will be distributed to all users who claimed APOLLO tokens. Part of the supply, intended for farming, staking, lenders, and borrowers, will be distributed over a period of 12 months.

<figure><img src="/files/3NNqKSgphapfTA3JpSxj" alt=""><figcaption></figcaption></figure>