# Premium Issuance Allocation

Staking effective weight <Md expr="w" /> votes this period's issuance size <Md expr="\Delta N" /> and other inflation parameters. The protocol credits this period's allocation onto wallets in proportion to each wallet's share of total effective weight, not by raw <Md expr="B" />:

<Eq expr="\Delta N_i = \Delta N \cdot \frac{w_i}{\sum_j w_j}" />

Only <Md expr="W > 7B" /> can join this period's issuance. <Md expr="w_i = 0" /> gets nothing: too young, diluted under the cliff, or unstaked.

If market premium falls back to **45% or below**, or proceeds do not fully enter the Treasury, pause issuance. Credits already on the wallet but not yet paid and minted **expire** and cannot mint more HOLI.

When premium qualifies **and** the address has paid <Md expr="\Delta N_i \cdot P_e" /> in **USDG**, it mints <Md expr="\Delta N_i" /> HOLI. The Treasury collects that USDG from those credited wallets into **undeployed reserves**. That is the only way this path adds HOLI to a person.

New HOLI is immediately transferable, sellable, and re-stakeable.

When undeployed assets are **above 30%**, the same <Md expr="w" /> votes to allocate idle funds into **already-approved** pools. [Staker Rights](/staking/rights). Issue price <Md expr="P_e = 0.69\, P_m^{\mathrm{HOLI/USDG}}" /> is [Premium Issuance](/supply/premium).