# Treasury Structure

The $AARNA token is the primary participation vehicle in aarn**â**’s agentic onchain treasury- analogous to how institutional investors access traditional asset managers rather than holding assets directly. More TVL and disciplined routing increase fee power, which deepens buybacks, which tightens float and governance, which attracts more deposits.

The $AARNA Token as the AOT Access Instrument will become the primary participation vehicle, with dual value capture:

* ***Token Holders (Primary Path):***
  * 70-80% of treasury automatically allocated into agentic atv strategies managed by âTARS; remaining capital reserves insurance and governance incentives. Token holders participate in protocol fee recycling via buyback-and-lock and veAARNA staking
* ***Direct USDC Depositors (Secondary Path):***
  * Access to basic atv vaults with no governance or fee participation.
* ***Premium to NAV Economics:***
  * Token trades at a multiple above the underlying portfolio of vaults because of buyback effects, staking yields, and governance upside.


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