Treasury delegation
Controlled bootstrap collateral with an operator buy-out path.
Purpose and access
Treasury delegation lets a governance-designated treasury back a Business Validator's role with ASSET. It is a controlled bootstrap facility, not a public market where any token holder can delegate to an operator.
The implementation requires a global enablement setting, a configured treasury address, operator consent for the role, and an eligible validator state. Repository support does not establish that these settings are enabled in a particular deployment.
Ownership and responsibility
Treasury and operator collateral contribute to the account's capacity, but ownership remains separate. Delegating funds does not transfer the operator's signing authority or business responsibilities to the treasury.
The facility permits full treasury backing. An operator with no self-stake has no direct capital to lose in a slash; the treasury bears that exposure. Rewards are divided according to age-weighted collateral ownership, so a fully treasury-funded account does not give the operator staking rewards merely for running it.
Buying out the treasury
The operator can pay ASSET to convert active treasury positions into self-owned stake at par. The collateral stays posted and its age is preserved. This changes ownership and future reward allocation without withdrawing and redepositing the collateral.
Buy-out is blocked by applicable open disputes and provisional reservations. Treasury positions already in unbonding are exiting and cannot be bought out through this path.
Loss and exit
The reviewed delegation model puts operator self-stake first in the loss order, followed by treasury collateral. Both owners can lose capital; treasury backing is not protected principal.
A treasury exit immediately removes the exiting amount from posted capacity, which can reduce the validator's health. Funds then pass through the configured unbonding period and remain exposed until release. The operator's own withdrawal path is different and retains its requirement, reservation, and lifecycle gates.
Delegated collateral does not itself receive dispute or governance voting weight. Moving treasury support between operators requires an exit and a new delegation, rather than carrying the old position's age into another account.
Before relying on the facility
Verify the deployed implementation and current settings, including pending liabilities and the release path. Detailed attribution of losses across changing positions is release-sensitive; these pages do not certify a pending collateral-accounting upgrade or a live treasury allocation.