# DAO Treasury

The DAO Treasury is managed by the LEVEL DAO through the governance participation of LGO holders.

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To learn more about LGO tokenomics, see [**LGO Governance Token**](https://docs.level.finance/tokenomics/lgo-governance-token)
{% endhint %}

The DAO Treasury can be split into two distinct categories:

* Treasury Reserve = LVL tokens
* Treasury Liquid Assets (on BNB Chain) = Senior LLP + LVL/USDT LP
* Treasury Liquid Assets (on Arbitrum) = Senior LLP + LVL/USDT LP

<figure><img src="/files/9KQUMwVAXJ7EYjNN4uFz" alt=""><figcaption></figcaption></figure>

### **Treasury Reserve**

The LEVEL DAO has a Treasury Reserve of LVL tokens made up entirely of the remaining LVL supply (excl. team allocation).

Typically, the Treasury Reserve is used for:

* Strategic Investor allocations, where all proceeds from the sale go to the DAO Treasury
* Partnership allocations (e.g. [PancakeSwap](https://dao.level.finance/proposals/0x4b7bae39ca4008c9d0b9184f41aa4d9ad4d6d22a4587a4a727358a8bbbf7eea0))
* Security audits (e.g. [Quantstamp](https://dao.level.finance/proposals/0xfd8cd0c325529c52a4ca769b878b59b87ed219dc10b55ed99683cb766c0bbc85))

### **Treasury Liquid Assets**

30% of protocol revenue is distributed to the DAO Treasury in the form of Senior LLP tokens that continually increase in value with fees from the protocol. The DAO Treasury also owns a position in LVL/USDT LP. These liquid portions of the DAO Treasury represented by Senior LLP and LVL/USDT LP can be redeemed from LGO holdings.

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To learn more about the distribution of fees, see [Protocol Fee Structure](/protocol-fee-structure.md)
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