> For the complete documentation index, see [llms.txt](https://docs.lendle.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.lendle.xyz/key-protocol-insights/l-tokens.md).

# L-Tokens

In AMMs, when a user provides liquidity, LP-tokens are minted and sent to the user. In Lendle, any asset deposited will give you 'L-tokens'. These interest-bearing tokens represent their underlying asset, for example:

* **Lusdt** for usdt that is deposited
* **Lwbtc** for wbtc that is deposited

The value of the L-token is pegged at a 1:1 ratio with the deposited asset and all accrued interest is distributed directly to the L-token holders. 

 Over at [Mantle Contracts](https://docs.lendle.xyz/contracts-and-security/mantle-contracts) you'll find the L-token contracts.