Treasury & Reserves

A treasury can itself be represented as an ENTITY holding rights, reserves, receivables, settlement history and service revenue positions.

Reserve concepts

An originator may retain an explicit reserve of units/rights at issuance. That reserve is an economic position only to the extent the underlying rights are enforceable and the instrument terms support it.

State separation

Keep reserves, receivables, settled cash, accrued revenue and indicative market values distinct. A marked or scenario value is not settled cash.

BTG example boundary

BTG may hold positions through BTG-originated DCOs, EOPP terms or commercial services. Canonical protocol stewardship by itself does not populate a treasury with user assets or automatic royalties.