> ## Documentation Index
> Fetch the complete documentation index at: https://docs.arcx.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Series Lifecycle

> Each vToken can have multiple series. Every series has a fixed maturity date and its own ST and EPT tokens.

A **series** is a fixed-maturity market built on top of a vToken.

Each vToken can have multiple series over time. Every series has:

* a fixed **maturity date**
* its own **ST**
* its own **EPT**

ST and EPT only apply to that specific series. When the series reaches maturity, that series stops accruing new time-based exposure.

## Before Maturity

Before maturity, users can:

* hold **vToken** for combined yield and rewards-side exposure
* buy **ST** for principal + yield exposure until maturity
* buy **EPT** for rewards-side exposure until maturity

## At Maturity

At maturity:

* **ST** redeems back into vToken
* **EPT** stops earning new exposure for that series and can be used to claim CreditTokens based on accrued credits
* **vToken** continues as the base vault share