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

# How it works

- [Design Architecture](https://docs.filliquid.io/how-it-works/design-architecture.md)
- [Staking and Redemption by FIL Token Holders](https://docs.filliquid.io/how-it-works/staking-and-redemption-by-fil-token-holders.md)
- [Borrowing and Repayment by Storage Providers (SPs)](https://docs.filliquid.io/how-it-works/borrowing-and-repayment-by-storage-providers-sps.md)
- [Transaction Fees](https://docs.filliquid.io/how-it-works/transaction-fees.md)
- [Risk Management Mechanisms](https://docs.filliquid.io/how-it-works/risk-management-mechanisms.md)