# Treasury Transparency

The **NAV report** discloses **total assets**, **basket weights**, and **on-chain valuation sources**. The dashboard **must disclose both buckets’ amounts and weights**. Treasury assets and LP positions are **read and marked by the contracts automatically**. The dashboard **reads on-chain** balances, LP shares, pool reserves, HOLI burn events, and HOLI supply, and **updates NAV automatically**. Continuous, queryable on-chain state. Not a manual mark.

The dashboard applies the approved-asset and mark policy from [Treasury Asset Valuation](/nav/valuation), together with the external-supply identity in [NAV Definition](/nav/definition). It reports no book liabilities.

The dashboard should show at least:

* **Total assets** — marked <Md expr="A_t" />. Official NAV is **1×** the external LP legs
* **Basket weights** — each name's share of <Md expr="A_t" />
* **Deployed / undeployed** — each of the two buckets’ **amount and weight**. Must. [asset buckets](/treasury-mgmt/buckets)
* **Valuation sources** — the corresponding /HOLI pool; USDG via HOLI routes
* **Balances** — on-chain Treasury balances
* **LP** — each Treasury-owned pool: reserves, LP share, deployed value
* **Reserves** — undeployed balances by asset, including USDG and unpaired stock
* **Supply** — total HOLI <Md expr="S_t" />, Treasury-held HOLI <Md expr="S_t^{\mathrm{treas}}" /> (including protocol LP), untaxed sHOLI emission <Md expr="U_t" />, and released external HOLI <Md expr="N_t" />
* **Sell burns** — HOLI burned by the 1% sell-side hook charge, reported as supply reduction rather than a Treasury or LP asset. [Fee Structure](/treasury-mgmt/amm-fees)
* **NAV** — updated automatically from those reads. No book liabilities. SHYT legs at **market**. The sell fee and slippage affect the **fill**, not this print

If a line is off-chain (RWA custody, snapshot for admission), the dashboard should say so. Missing data is a disclosure, not a blank.

The 70/30 deployed vs undeployed split belongs on the same screen as NAV. See [asset buckets](/treasury-mgmt/buckets).