# Staker Rights

Addresses that stake HOLI get **two rights**. Both use staking effective weight <Md expr="w" />. Vote weight **is the same** <Md expr="w" />. Not HOLI in a wallet, not SHYT, not LP tokens.

Average age must **exceed** 7 days (<Md expr="W/B > 7" />) or there is no vote and no discount allocation. From just after 7 days to 30 days, weight rises linearly. At 30 days it caps at <Md expr="23B" />. Unstaking loses both. The formula is [effective weight](/staking/weight).

## Buyback proposal right

When market price is below NAV, <Md expr="w" /> votes:

* **whether** to spend **undeployed reserves** buying HOLI
* **size**
* **price cap**

This is **not** default NAV redemption. A passed buyback is still a market purchase. See [NAV ≠ Redemption](/nav/redemption).

## Discount purchase right

After the [quiet period](/launch/quiet-period), <Md expr="w" /> votes **whether** inflation is on, **per-period size**, and **interval**. That week pauses this printer only. Forming pools, mint-to-swap, the green channel, and the team management mint **still run on their own rules**.

Even if that proposal passes, issuance opens to addresses that meet the staking rules **only when** premium vs NAV is above **45%**:

<Eq expr="\pi_t > 45\%" />

The issue price is **69%** of the HOLI/USDG pool's observable price:

<Eq expr="P_e = 0.69\, P_m^{\mathrm{HOLI/USDG}}" />

The protocol credits this period's allocation onto the wallet by effective-weight share. If market premium falls back to **45% or below**, or proceeds do not fully enter the Treasury, pause issuance. Credits already on wallets but not yet paid and minted **expire** and cannot mint. 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. New HOLI is immediately transferable, sellable, and re-stakeable. USDG paid goes into Treasury **undeployed reserves**. How the mint is credited is [premium allocation](/staking/allocation). The printer is [Premium Issuance](/supply/premium).

## HOLI/Stock and idle funds

**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.

Stock pools are **not** opened at the Genesis [HOLI/USDG](/launch/usdg-pool) moment. **Undeployed reserves after the HOLI/USDG deploy (i.e. after Genesis): about $100,000 USDG remaining.** Then the **team** swaps undeployed single-asset for the approved stock and mints pairing HOLI. **All newly minted HOLI enters that LP at the then market price.** The LP is Treasury-owned. <Md expr="N" /> is unchanged. [POL Deployment](/treasury-mgmt/deployment).

When undeployed is **again > 30%** — or the community separately approves using reserves — <Md expr="w" /> also votes to allocate idle funds into **already-approved** pools. That vote thickens NAV and market depth. The team may execute a **passed** allocation. It cannot allocate idle funds without that vote (or a separate approval to use reserves).

Admissible Treasury assets and **quality RWA** are the same <Md expr="w" />. First candidates include **MU, NVDA, AAPL, AMZN**. **Which** to buy and **how much** each is decided by <Md expr="w" /> after Genesis. A proposal must name the **blue-chip**, **target LP size**, and **risk cap**; only after it passes may the team swap and form the pool. **Unapproved assets are not admitted.** Except **SHYT**, approved names are **blue chips**. Later votes may **adjust asset caps** or **stop new deployments**. [Asset admission](/treasury-mgmt/admission).

## Other <Md expr="w" /> parameters

The same <Md expr="w" /> also sets:

* **Inflation on/off** — whether staking inflation runs after the quiet period
* **Inflation size** — this period's issuance size <Md expr="\Delta N" />
* **Inflation interval** — how often that printer fires
* **Asset admission** — which RWAs may enter the Treasury; what counts as **quality RWA**
* **Stock pools** — which Stock/HOLI pools may exist (the pairing proposal: **blue-chip**, **target LP size**, **risk cap**)
* **Reserve allocation** — **how much** each admitted name
* **Risk limits** — later votes may **adjust asset caps** or **stop new deployments**

If it is not on this page, it is not a <Md expr="w" />-vote in the current model. The 0 / 1% AMM split is **fixed by the hook** — not a vote. The team may then execute a passed HOLI/Stock deployment, or a passed idle-fund allocation, when undeployed is **again > 30%** (or a separate approval to use reserves). Which other actions sit with the team is [Execution & Control](/risk).