TREASURY.HTM
The treasury holds the USDG that backs NET. Balances are readable on Robinhood Chain. Live Figures on the home page quote reserves, supply, staked NET, and NAV from those contracts.
Reserve asset
USDG is the sole reserve asset for NAV. Idle USDG may be supplied to Morpho markets selected by the protocol so that backing earns while it sits. Yield accrues to reserves, not to a separate management account.
NAV floor
Protocol rules enforce a floor of no less than 1 USDG of treasury backing per NET in issue. If the open market prints below NAV, the buyback program bids for NET and retires what it buys.
Reporting
| Field | Source |
|---|---|
| Market price | AMM / oracle path used by the quotes desk |
| NAV | Treasury USDG ÷ NET in issue |
| Premium | Market price ÷ NAV |
| Reserves | Treasury contract RFV in USDG |
| Staked | Staking contract balance |
What is not in the treasury
The NetNet RWA Sleeve holds tokenized equities from bond and Superstore flows. It is earmarked for the protocol but is not counted in on-chain NAV today. See the note on equities on the home page.