What you control, and what you don’t.

Which collectible the strategy buys next. In each round, holders deposit HOARD into the round escrow (one token, one vote) and choose one of 3–5 published candidates. The winner, its maximum price and its purchase deadline are recorded when the vote closes.

Holders do not control the treasury keys, the custody wallet, the fee split, or who can propose candidates.

The DAO’s custody address holds them. No custody address is configured on this deployment. Graded cards are tokenized by Collector Crypt; the physical card sits in Collector Crypt’s vault and the token represents the claim on it.

Holding HOARD does not give you a share of the collection, a claim on any card, or a right to redeem anything.

Multisig purchases. Purchases will execute from a multisig vault. The vault is connected before the first purchase round; until then nothing can be bought.

Voting and a public treasury don’t make purchases autonomous or trustless. The operators who hold these keys can technically move funds and assets; what keeps them honest in v1 is that every claim, transfer, purchase and custody check is public and reconciled on the treasury page. The treasury is not immutable.

Only the exact approved asset, and only at or below its approved maximum price, before the deadline. If the listing disappears or the price rises, the round is marked “purchase unavailable”, the funds stay in the treasury, and a new vote is required. Nothing is ever substituted.

Quorum is the larger of 0.10% of token supply and 100,000 HOARD, fixed when a round is published. A tie at the top buys nothing and triggers a runoff between the tied candidates. An approved purchase that isn’t executed within 48 hours expires.

So the same tokens can’t vote twice. A balance check can be gamed by moving tokens between wallets; tokens sitting in escrow can’t move. You can change your choice until the close, and your weight counts once. After the close, withdraw and the escrow returns your tokens.

v1 escrow is an operator-held wallet, verified by memo-tagged transfers. A program-owned escrow (source in programs/hoard_escrow) is the intended v2 and has not been audited or deployed.

v1 has no sale mechanism: the app can only buy. Any future sale would need its own published proposal and vote, and proceeds would return to the strategy treasury to fund later rounds. They would not be distributed to token holders.

Purchase cost is what the DAO paid. Asking price is what a seller listed. Collector Crypt’s insured value is an insurance figure, not a sale estimate. We show no “portfolio value”: collectibles are illiquid and can lose value.

Courtyard’s cards live on Polygon with separate custody. They’d need a cross-chain integration and would never be shown as native Solana assets. They are not supported in v1.