# SHYT Green Channel

**SHYT green channel trades at market in the SHYT/HOLI pool: holders buy HOLI with SHYT.** Initial quote: **about $1 of SHYT per HOLI**; the exact quote depends on the Treasury's actual SHYT quantity when Genesis triggers. Price **rises along the curve** with buys. **Opens at Genesis** and **stays**. Green-channel pool SHYT is from the **80% tax that entered the Treasury and was bought back** — **not** a separately minted **team allocation**. This is a **definition**, not a second USDG sale. The USDG door: [main channel](/launch/opening-balance-sheet). The pool object: [SHYT/HOLI Pool](/launch/opening-balance-sheet#shytholi-pool). Opening books: [opening balance sheet](/launch/opening-balance-sheet).

## Issuance (full quota)

| | |
| --- | --- |
| Green-channel issuance (full quota) | **another 200,000 HOLI** |
| Pairing | **About $1 per HOLI vs SHYT**, set by Genesis-trigger SHYT quantity |
| SHYT source | **80% tax** that entered the Treasury and was bought back — **not** a separately minted **team allocation** |
| Where it sits | **House of Liquidity Treasury** SHYT/HOLI LP |
| After open | **buy HOLI in the pool with SHYT at market** |

The **SHYT green channel** is the standing SHYT path into HOLI. It **opens at Genesis and stays**. It is not a one-hour window, and it is not a one-round fast track.

The protected Genesis period belongs to the USDG [main channel](/launch/opening-balance-sheet#holigenesis): during its first 24 hours, buyers use OHOLI claimed from `PreGenesisFarm` after the farm ends, together with USDG, to write `holiCredit`. No HOLI is transferred until Treasury `deployGenesisHoliUsdgPool()`. OHOLI is a separate ERC-20, not the farm itself. [Pre-Genesis Farm](/launch/pre-genesis-farm). The green channel is separate and remains a SHYT/HOLI market path.

## How it trades

It trades **at market** in the **SHYT/HOLI** pool. Holders buy HOLI **with SHYT**: SHYT in, HOLI out of the pool.

The pool's initial quote is **about $1 of SHYT per HOLI**, with the exact amount set by the Treasury's actual SHYT balance at Genesis. Thereafter the price **rises along the curve** with buys. After open, that pair is the curve, not a peg. [SHYT/HOLI Pool](/launch/opening-balance-sheet#shytholi-pool).

It is how SHYT holders can participate with SHYT instead of only USDG on the main channel.

The SHYT green channel and sHOLI emission are **two parallel paths**. The green channel fills at the **SHYT/HOLI pool price**, paid in **SHYT**. sHOLI emission is released only when its USDG [Seigniorage Tax](/supply/seigniorage-tax) is paid.

It is **not** a fixed-ratio convert. It is **not** an unconditional right to HOLI. Size and any cap are Genesis / issuance parameters, not a 1:1 IOU from the tax.

During the [7-day quiet period](/launch/quiet-period) the green channel remains on — **at market** in SHYT/HOLI, holders buy HOLI **with SHYT**, on its own rules. After the quiet period it remains on. That is the point of putting it last in this chapter: bootstrap, trigger, USDG Genesis, SHYT/HOLI pool, opening NAV, USDG pool, quiet period — and then a SHYT path that does not end when Genesis does.