# Asset Admission & POL Deployment

Admissible Treasury assets, and what counts as **quality RWA**, are set by community <Md expr="w" /> votes. Vote weight is claimed, non-transferable [sHOLI](/staking#governance-weight) at the Snapshot block. Cooling receipts do not vote. This is not a team list.

## Snapshot policy, Safe execution

Asset admission, caps, the undeployed target, and POL allocation are **governance policy**, not contract-held allowlists or automatic Treasury constraints. Snapshot is off-chain, so the EVM cannot prove that a vote passed or enforce its target size. A passed proposal authorizes the **Dev Team multisig** to execute the relevant Treasury calls; the Safe transaction and proposal link are the accountability record. The Treasury contract deliberately permits the multisig to add a single asset or create/add a HOLI pool without embedding these policy rules.

## Candidates, not listings

First stock-pool **candidates** include **MU, NVDA, AAPL, AMZN** — tokenized stocks already live on Robinhood Chain. **Which** to buy and **how much** each is decided by <Md expr="w" /> **after Genesis**. They are not admitted until a vote passes. Do not read this page as a promise that the Treasury will hold any of them.

A proposal should name the **blue-chip**, **target LP size**, and **risk cap**. After it passes, the team executes the swap and pool formation. **Unapproved** means not community-authorized; it is not an EVM revert condition. Except **SHYT**, the governance policy is that approved names are **blue chips**.

The vote is the **name** (and size/cap). It does **not** retune the hook fee. Stock pools are **not** opened with the Genesis base pools.

## Caps and stop

Later <Md expr="w" /> votes may **adjust asset caps** or **stop new deployments**. Caps are a governance upper bound — share of Treasury, USDG size of the pool, or both — which the Team Safe follows when executing. Stop / pause new deployment does not by itself dump the LP. Unwinds, if any, are a separate decision.

Allocating idle funds into **already-approved** pools when undeployed is **again > 30%** is a further <Md expr="w" /> vote.

Third-party token communities that want a Token / HOLI position in the Treasury: [Why should every community partner with HOLI?](/blogs/partnership). Owned vs rented liquidity: [POL vs PoL](/blogs/pol-vs-pol).

## POL deployment

POL deployment converts undeployed external assets into Treasury-owned external-asset/HOLI pools. Genesis SHYT/HOLI and HOLI/USDG pools use the [opening parameters](/launch/opening-balance-sheet); the following rules apply to later Stock/HOLI pools and additional allocation.

### Conditions and execution

A new Stock/HOLI pool requires both an undeployed share **above 30%** (unless governance separately authorizes reserve use) and a passed sHOLI proposal for the specific asset and allocation. Those are Snapshot conditions and Team Safe instructions, not Solidity-enforced allowlist, cap, or 30% checks.

After both conditions pass, the Team Safe executes:

**undeployed USDG or other singles → approved stock token → Stock/HOLI LP**

1. Swap approved undeployed assets into the stock token.
2. In multiple lots, mint the HOLI needed at the current market price.
3. Deposit each stock + HOLI lot into the Treasury-owned pool.

Multiple lots avoid treating the full allocation as one market dump. All pairing HOLI goes directly into the LP as Treasury inventory, not external supply. The Treasury never sells newly minted HOLI into the market to fund the other side. This is the [LP-pairing mint](/supply/paths#genesis-and-lp-pairing-mint); the RWA enters NAV through its pool external leg under [NAV Definition & POL Accounting](/nav/definition#pol-accounting).

### Adding to existing pools

When undeployed assets rise above 30% again—or governance separately approves reserve use—the same sHOLI vote may allocate capital among already-approved SHYT/HOLI, USDG/HOLI, and live Stock/HOLI pools. Asset admission alone does not authorize every later transfer of idle reserves. LP-drift policy is in [asset buckets & rebalancing](/treasury-mgmt/buckets#rebalancing-policy).