Treasury

AgamaTreasury holds operational reserves for Agama. Whitelisted tokens only: direct transfers of non-whitelisted tokens result in permanent loss.

Purpose (explicit policy)

Design Review #11: We commit to an explicit written treasury policy:

Fund ongoing operations (team, audits, infra).
Top up the ReserveFund if its coverage ratio drops below 2%.
Seed mainnet bootstrap liquidity incentives (one-time).
Stake a portion of operational reserves in the Stability Pool (V1 testnet) to bootstrap pool depth.

Any treasury withdrawal outside this policy requires a public governance post published at least 48 hours before execution.

Stability Pool participation (V1 testnet)

In V1 testnet, the Treasury stakes a portion of its agYLD balance in the Stability Pool, receiving sagYLD shares like any other participant. This is a bootstrap measure: the Stability Pool has meaningful depth from day one, before retail stakers ramp.

Mechanics. The Treasury is treated identically to retail stakers and the Reserve Fund — same sagYLD, same share price, same pro-rata exposure. There is no privileged tier:

Earns pro-rata supply APY + liquidation bonuses on its staked share.
Absorbs pro-rata losses if the Stability Pool eats bad debt.
Unwinds through the standard requestWithdraw / withdraw timelock flow when governance decides to redeploy the capital elsewhere.

The Treasury's sagYLD position is reported in the monthly transparency report alongside other reserves.

The V1 testnet allocation will be re-evaluated for mainnet. Whether the Treasury continues to stake on mainnet — and at what fraction — is a governance decision based on observed pool depth from retail stakers.

Supported tokens (V1)

Token	Use
USDr	Primary operational reserve.
agYLD	Accrual of supply yield on treasury reserves.
sagYLD	V1 testnet: Stability Pool stake for pool-depth bootstrap.
AMFI RWA tokens	Intermediate: held briefly before redemption via Manager.

Functions

function deposit(address token, uint256 amount) external;
 
// Implements IDistributionTarget, callable by FeeCollector
function distributeRewards(address token, address recipient, uint256 amount) external;
 
function withdraw(address token, address to, uint256 amount)
    external onlyRole(MANAGER_ROLE);
 
function setTokenSupported(address token, bool supported)
    external onlyRole(DEFAULT_ADMIN_ROLE);

Access control

Role	Holder	Capability
`DEFAULT_ADMIN_ROLE`	Owner multisig (timelock)	Grant/revoke roles, manage tokens.
`MANAGER_ROLE`	Operational multisig	Withdraw funds (ops budget).

Balance-delta accounting

Every deposit measures balanceOf(this) before and after the transfer to defend against fee-on-transfer or rebase semantics. Direct transfers are still lost.

Monthly transparency report

Agama publishes a monthly treasury report off-chain covering:

Opening / closing balance per token.
Inflows by fee type.
Outflows by category (ops / audit / incentives / ReserveFund top-up).
Stability Pool position: sagYLD balance and current redeemable agYLD value.
Pending commitments.

All withdrawals are independently verifiable via on-chain Withdrawn events.