The token system at the Libertarian Party National Convention is a way to determine which Presidential (and Vice Presidential) candidates will be able to participate in the debate on Friday night (which is being shown, live, on C-SPAN). Over at the Reason Hit&Run blog they have some coverage of this token system, as well as pictures.
As of 4:15pm today the token tally showed former New Mexico Governor Gary Johnson on top with 63, followed by LibertyForAll.net editor Lee Wrights with 18. Jim Burns and Carl Person (pronounced peer-son) received two tokens each while a handful of others picked up just one.
30 tokens are required in order to get on the debate stage Friday night, so as of this report, only Gary Johnson was going to qualify.