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

# The Graveyard (GY)

## What is the Graveyard

The Graveyard (GY) is a smart contract that holds 50% of the ELEPHANT token's supply at all times. As a holder of ELEPHANT like all other holders, the GY earns [RFI rewards](/glossary/rfi-rewards.md) from transaction fees, as the largest holder it earns to half of all RFI rewards income.

Once the RFI rewards earned have increased the graveyard's holding by 1%, now the graveyard holds 51% of the total supply. When this occurs a rebalance in executed, selling off 1% of the GY holdings and returning to the GY balance back to 50% of the supply.   

The Graveyard Rebalance was implemented to make sure that the Graveyard does not grow too large from rewards and eat up more than 50% of the RFI rewards earned. This **ensures a continuously fair rewards distribution for all holders.**