Treasury
Guru Network’s Bankroll
Introduction
The Treasury consists of multiple addresses and contracts, which hold various assets, bears liabilities, collects revenues and deploys capital expenditures.
ELITE is backed by Treasury
Our token ELITE is backed by the treasury. Specifically, the Market Cap of ELITE should be generally higher than the worth of Liquid Class-A assets in the treasury. If the mkt. cap. of ELITE becomes lower than this, the treasury may buyback some ELITE tokens by liquidating some of its assets.
The treasury shall never liquidate its “liabilities”, such as its Liquid Wrapper’s Protocol veNFTs, etc. It shall only liquidate its “assets” for any kind of expenditure, including buybacks of ELITE.
Reporting Standard
We broadly classify the holdings into two categories:
- Assets
These are owned wholly by Guru Network without any restriction.
- Liabilities
Holdings that are owed to someone else, or “Assets Under Management” (AUM) stemming from our Protocols or other undertakings.
Capital Expenditures (Capex) and Revenues are settled against the running account of assets and not marked separately, as we incur millions of inbound and outbound micro-transactions, which are infeasible to track individually.
Publications
Regular reports are published to give the holders an overview of the current state of our treasury.