# HOLI/USDG Pool

**At Genesis close**, deploy HOLI/USDG with **100,000 USDG** minting **50,000 HOLI at $2**. While those 50,000 sit in the **Treasury pool**, **outside supply is unchanged**, **NAV is $2**; **undeployed USDG remaining $100,000**. Main-channel subscribers bought at **$1**, against **200,000 outside HOLI** and **$2 NAV** — a **one-time discounted issuance**.

The **LP is Treasury-owned**. Official NAV is **1× the external (USDG) leg**. Same moment as immediately after the [main channel](/launch/genesis) plus the [green-channel](/launch/green-channel) SHYT/HOLI pool seeded. Spend **100,000 USDG** at **$2/HOLI** and mint **50,000 HOLI** into the Treasury HOLI/USDG pool. Same as the green-channel SHYT/HOLI LP: Treasury-held; the 50,000 HOLI stay in Treasury LP (not in the NAV denominator); the USDG external leg counts in NAV at **1×**. Do not 2× the LP. <Md expr="N" /> unchanged (still 200k); **NAV still $2**.

**HOLI pool type:** Uniswap V4 full-range hook.

**HOLI pool fees:** buy HOLI **0**; sell HOLI **1% exit fee**, as **LP fee**. That 1% counts as protocol assets. Fees **automatically accrue in the LP** **or** are **auto-collected to the Treasury by the contract**. Fill and slippage affect trade price, not official NAV. Official NAV is **1× the external (USDG) leg**.

**Genesis-stage full issuance total: 400,000 HOLI (of which 200,000 sit in Treasury LP)** is already booked at the [SHYT/HOLI](/launch/genesis-pool) moment. This page is a **follow-on Treasury LP mint**: **+50,000** HOLI. Then <Md expr="S" /> becomes **450,000**; <Md expr="N" /> stays **200,000**. Still not circulating. **NAV still $2**.

**Full-quota NAV denominator stays 200,000 HOLI** (total issuance minus Treasury-held, **including HOLI in pools**). Those 50,000 also sit in Treasury LP — do not retitle the denominator 250k.

**Undeployed reserves after the HOLI/USDG deploy (i.e. after Genesis): about $100,000 USDG remaining.** Same remaining cash: **200,000 USDG** in via the main channel, then **100,000** into this pool — **100k undeployed** — **25%** of <Md expr="A_0" />. After this deploy, Genesis has ended. Do not call the 200k still-undeployed at this moment.

## The deploy

| | |
| --- | --- |
| USDG into the pool | **$100,000** |
| HOLI minted | **50,000 HOLI at $2** |
| Owner | **House of Liquidity Treasury** |
| External HOLI | **unchanged** |
| NAV | **unchanged at $2** |
| Undeployed reserves after (i.e. after Genesis) | **about $100,000 USDG remaining** (25% of <Md expr="A_0" />) |

Launch parameters: <Md expr="50{,}000 \times 2 = 100{,}000" />, so the pool **opens** paired at accounting NAV.

<Eq expr="100{,}000^{\mathrm{USDG}} / 2 = 50{,}000^{\mathrm{HOLI}}" />

Those 50,000 stay in the **Treasury pool**. <Md expr="S" /> rises by 50k; <Md expr="S^{\mathrm{treas}}" /> rises by 50k; it does not add to <Md expr="N_t" />. **Full-quota NAV denominator stays 200,000 HOLI** — do not retitle it 250k. This sketch is the **default $1 / HOLI** case: external supply stays 200,000, and accounting NAV stays **$2**. If the [main-channel](/launch/genesis) auction clears above $1, pairing follows then NAV; raise and issued HOLI are the clearing result. $100k USDG moves into the HOLI/USDG **external leg** (1×); $100k stays undeployed. External assets still $400k. After open, the HOLI/USDG price is the tape and the curve — not a peg to NAV, and not the $1 subscription.

Stock pools are **not** opened at this HOLI/USDG moment. **HOLI/Stock deployment:** only after **undeployed again > 30%** (or a **separate approval** to use reserves) **and** a <Md expr="w" /> vote passes the **specific name**, then swap into that stock and form the pool. [LP Pairing Mint](/supply/lp-pairing).

This is an **LP-pairing mint**: inventory minted to own a pool, not a sale to the market, and not staking inflation.