# Treasury Asset Buckets

Steady-state target is **two** baskets. Not five. Not a sleeve per ticker.

| Basket | What's in it | Target | Role |
| --- | --- | --- | --- |
| **Deployed assets** | Protocol-owned LP (Stock/HOLI, USDG/HOLI, SHYT/HOLI, …) | **as much as possible > 70%** | Productive reserve, exit, cross-asset routing |
| **Undeployed assets** | Unpooled singles, e.g. ETH, USDG, SHYT | **as much as possible \< 30%** | Ammo for new pools, rebalancing, buffer |

Deployed is the default. RWA enters as **LP external legs**, not idle inventory. Unpooled singles are residual ammo, not the RWA form.

Genesis **may deviate**. At start the fund mainly holds **undeployed SHYT**. After the [main channel](/launch/genesis) it **adds USDG**. Then it deploys most into [SHYT/HOLI](/launch/genesis-pool) and [HOLI/USDG](/launch/usdg-pool) so deployed returns **above 70%**.

**Undeployed reserves after the HOLI/USDG deploy (i.e. after Genesis): about $100,000 USDG remaining** (**25%** of $400k <Md expr="A_0" />). SHYT is **already in the pool** (deployed). Same remaining cash: **200,000 USDG** in via the main channel, then **100,000** into HOLI/USDG — **100k undeployed**. Do not call the 200k still-undeployed at that moment.

The [dashboard](/treasury-mgmt/transparency) **must disclose both buckets’ amounts and weights**.

Premium-issuance USDG arrives **undeployed**. Moving it into LP is the idle-fund <Md expr="w" /> vote. **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**. See [POL Deployment](/treasury-mgmt/deployment). Drifted LP is [rebalancing](/treasury-mgmt/rebalancing).

What *names* can sit in either basket (SHYT, USDG, RWAs) is [System Architecture](/treasury). This page is only the deployed / undeployed cut.