> For the complete documentation index, see [llms.txt](https://docs.colonylab.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.colonylab.io/early-stage-program/core-concepts-explanation.md).

# Core Concepts Explanation

This section offers comprehensive explanations and definitions of all key elements and mechanisms within the Early-Stage Program.

The [NEST section](/early-stage-program/core-concepts-explanation/nest.md) provides further details about the fundraising features associated with Colony's NEST mechanism. Explanations regarding **NEST**, **ANT tokens**, and the **Anti-Whale Mechanism** can be found below.

{% content-ref url="/pages/USQOv1RMG33T2R8mN6ST" %}
[NEST](/early-stage-program/core-concepts-explanation/nest.md)
{% endcontent-ref %}

{% content-ref url="/pages/Sn7DBaY505xR78evbi4e" %}
[ANT tokens](/early-stage-program/core-concepts-explanation/nest/ant-tokens.md)
{% endcontent-ref %}

{% content-ref url="/pages/l85TA667teKSvPP3rrUG" %}
[Anti-Whale Mechanism](/early-stage-program/core-concepts-explanation/nest/anti-whale-mechanism.md)
{% endcontent-ref %}

***

The [Liquid Vesting section](/early-stage-program/core-concepts-explanation/liquid-vesting.md) delves into the mechanisms behind the innovative **Liquid Vesting solution**, the first of its kind in the crypto space, that unlocks liquidity on the primary market. It offers detailed information on **ceTokens**, their distribution within Colony's application, the **Fair Claim Mechanism**, and the **Long-Term Incentives** in place.

{% content-ref url="/pages/TXWJpoTEj8OsCD3hYgER" %}
[ceTokens](/early-stage-program/core-concepts-explanation/liquid-vesting/cetokens.md)
{% endcontent-ref %}

{% content-ref url="/pages/Y4hQypCPZMsMAF4KhyHw" %}
[Fair Claim Mechanism](/early-stage-program/core-concepts-explanation/liquid-vesting/fair-claim-mechanism.md)
{% endcontent-ref %}

{% content-ref url="/pages/3rMMGQI8pzqcBM1lxuGh" %}
[Long-Term Incentives](/early-stage-program/core-concepts-explanation/liquid-vesting/long-term-incentives.md)
{% endcontent-ref %}