> For the complete documentation index, see [llms.txt](https://docs.chamberfi.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.chamberfi.com/treasury-and-protocol-economics/holdings.md).

# Holdings

The Chamber protocol treasury holds the DAO's accumulated revenue plus direct holdings allocated by governance. It sits onchain, multisig-controlled, and is fully visible.

## Live view

The canonical source (total balance, composition, per-asset holdings, and per-protocol positions) is the Analytics page:

* [chamberfi.com/analytics?analyticsType=treasury](https://chamberfi.com/analytics?analyticsType=treasury)

Treat it as the source of truth. Figures drift with market prices and ongoing inflows, and the app always reflects the live state.

## What's in there

The treasury's composition reflects how Chamber earns. Because every fee is paid in vault shares, the treasury accumulates shares in every fee-earning vault across the protocol, alongside whatever the DAO chooses to hold directly.

Broadly, holdings fall into three categories:

* **Vault shares**: 10% of every vault fee (entry, exit, performance, management) is minted to the DAO as vault shares. The treasury holds shares across the platform's fee-earning vaults.
* **Stablecoins**: realised revenue redeemed from vault shares, plus assets held for operations and grant payouts.
* **Volatile assets**: BTC, ETH, and a smaller allocation of alt exposure, held directly or through yield-earning positions.

The Analytics page splits this into **App Holdings** (positions inside Chamber vaults and partner protocols) and **Token Holdings** (direct token balances).

## Revenue concentration

Worth being explicit: revenue is concentrated. A large share of fee flow currently comes from [Toros Finance](/ecosystem/toros-finance.md) vaults, with the remainder from market-making and yield-farming vaults. Depositor-driven retail flow is a smaller slice than it looks from the front page.

This matters for how the DAO thinks about treasury sustainability. A large drop in any one vault's AUM would move revenue noticeably. Buyback and grant programs are sized against this, not against an assumed steady flow. See [Revenue and buybacks](/treasury-and-protocol-economics/revenue-buybacks.md).

## Verifying onchain

Every transaction into and out of the treasury is visible onchain. Multisig addresses and per-chain treasury contracts are documented alongside the deployment addresses; follow the addresses directly from the [Analytics page](https://chamberfi.com/analytics?analyticsType=treasury).