# HOLI Tokenomics

The dual-token design splits community bootstrap from Treasury capitalization. SHYT builds community, tape, and initial capital. HOLI in Phase II carries Treasury accounting, staking, and later issuance. They are linked by funding and participation. Convert price is the pool and the market.

| | SHYT | HOLI |
| --- | --- | --- |
| Function | Community meme token and bootstrap engine | Reserve-backed Treasury share and liquidity intermediate |
| Status | Live on PONS; Phase I underway | Phase II Genesis; at full quota **200,000 outside/circulating** |
| Role | **5%** tax in ETH; **80%** Treasury buys SHYT; **20%** development | Treasury-reserve backed; NAV accounting; common counterparty for multi-asset liquidity |
| Participation | Buy HOLI at market via the SHYT/HOLI base pool; remains after Genesis | Main channel at **$1**. Thereafter stakers mint at **69%** of market only when premium **>45%** and average age **>7 days**. <Md expr="w" /> caps after **30 counting days** |
| Claim | Not by itself a claim on Treasury | Rights, redemption, and governance per final contracts and terms |

HOLI is the share-and-hub token. This page is the token model: what HOLI *is*. Pools, spokes, and capital pipes are in [System Architecture](/holi). SHYT's token model is [SHYT Tokenomics](/dual-token/shyt).

## Treasury share

HOLI is an OHM-style **Treasury share**. NAV, staking, and later issuance hang off this identity.

It is not SHYT. It is not a fixed-ratio convert from SHYT.

Exact rights, redemption, and governance are defined by the final contracts and terms. NAV is how the share is *counted*. It is not a redemption desk. [NAV ≠ Redemption](/nav/redemption).

## Status

Phase II Genesis issuance. At full quota **200,000 HOLI outside/circulating** — <Md expr="N_0" />, not <Md expr="S_0 = 400{,}000" />. [Genesis Mint](/supply/genesis).

## Liquidity intermediate

HOLI is also a **liquidity intermediate asset**. External assets pair against HOLI. SHYT, USDG, and tokenized stocks share one hub instead of a complete graph of StockA/StockB pools. HOLI is the common counterparty for that multi-asset liquidity.

Those two jobs are the same token. As a share, HOLI is an accounting claim on Treasury reserves, counted at NAV. As an intermediate, HOLI is the quote asset those holdings sit behind.

## NAV accounting

NAV is how the share is *counted*. The identity is [NAV Definition](/nav/definition). This page only names it: HOLI is an accounting share, not a bank deposit.

## No default NAV redemption

There is **no default redemption at NAV**. That statement, with slippage and the 1% exit fee, is [NAV ≠ Redemption](/nav/redemption).

## Participation

Main channel: subscribe at **$1**. [Genesis](/launch/genesis).

Thereafter, stakers mint at **69%** of market **only when** premium **>45%** **and** average age **>7 days**. <Md expr="w" /> caps after **30 counting days** (day 30: <Md expr="w = 23B" />). [Premium issuance](/supply/premium). [Effective weight](/staking/weight).