1. Introduction

Creova ("we," "us," or "our") operates a decentralised Web3 funding platform, managed by [Creova Group Ltd], a [company] registered in [England/Wales/Scotland/Northern Ireland, 16336209 ]. The Platform supports public goods projects through non-commercial crowdfunding and treasury grants via the FundingPool smart contract deployed on the Ethereum blockchain at [insert contract address]. This Treasury & Governance Policy ("Policy") outlines how the Creova treasury is managed, how funds are allocated, and the governance mechanisms ensuring fairness, transparency, and sustainability. By participating in the treasury system, you agree to abide by this Policy.

2. Treasury Structure

The Creova treasury is an Ethereum-based, smart contract-controlled fund holding Ether (ETH) for allocation to approved public goods projects.

Treasury funds are replenished through:

• Funding Fees: 2.5% of each crowdfunding or treasury grant contribution, automatically directed to the treasury wallet (daoTreasury).
• Withdrawal Fees: 1.25% of all withdrawals (crowdfunding or treasury grants), routed to the treasury.
• Unspent Treasury Grants: Funds from rejected or incomplete milestones returned to the treasury via the smart contract’s refundUnspentFunds function.

The treasury operates under predefined governance rules encoded in the smart contract, ensuring automated and auditable fund management.

3. Treasury Fund Allocation

• Quarterly Limits: Treasury funds are allocated quarterly, with a maximum of 10% of the smart contract’s balance per 90-day period (QUARTER_DURATION). This limit is recalculated at the start of each quarter or when the owner updates it via updateTreasuryLimit.
• Purpose: Funds are distributed exclusively to treasury grants for public goods projects, defined as initiatives delivering significant social, environmental, technological, or economic benefits (per our Terms & Conditions).
• Milestone-Based Disbursement: Treasury grants are released in tranches tied to predefined milestones (e.g., 30% Proof of Concept, 30% Beta, 40% Final Product), as specified in the smart contract. Funds are only disbursed upon voter or admin approval of milestone proofs.

4. Treasury Grant Approval Process

• Project Submission: Creators submit treasury grant applications via the Platform, providing project details (e.g., name, funding goal, IPFS CIDs) through the createCampaign function with FundingType.TreasuryGrant.
• Initial Review: Applications are assessed for eligibility by Creova administrators or users with the VOTER_ROLE (as defined in the smart contract).
• Voting & Approval:
• Admin Approval: Grants below 5 ETH may be approved by Creova administrators with the DEFAULT_ADMIN_ROLE or KYC_ADMIN_ROLE.
• Community Voting: Grants exceeding 5 ETH require approval by a majority of VOTER_ROLE holders via the voteCampaign function.
• Milestone Verification: Funds are released incrementally as creators submit proofs (via submitMilestoneProof) and voters approve them (via approveMilestone).
• Auto-Rejection: Unreviewed applications expire after 14 days (APPLICATION_EXPIRY) and are rejected via autoRejectUnreviewedTreasuryGrants, unless overridden by voters (overrideAutoRejection).

5. Treasury Governance & Oversight

• Transparency: All treasury transactions (e.g., allocations, refunds) are publicly recorded on the Ethereum blockchain and verifiable via the smart contract’s event logs (e.g., TreasuryGrantFunded, TreasuryFundsRefunded).
• Governance Model:
• The treasury operates under smart contract logic, ensuring automated, tamper-proof fund allocation and disbursement.
• Users with the VOTER_ROLE, assigned by the contract owner, participate in grant approvals and milestone verifications.
• The contract owner (initially the deployer) retains authority to update quarterly limits and assign roles.
• Treasury Review Committee: A designated group of Creova administrators and/or VOTER_ROLE holders may periodically review treasury disbursements to ensure alignment with public goods criteria and this Policy. Committee decisions are advisory and executed via smart contract functions.

6. Treasury Fund Misuse & Recourse

If a project misuses treasury funds or fails to meet milestones, the following measures apply:

• Halt Disbursements: Unapproved or rejected milestones (rejectMilestone) prevent further fund releases until resolved.
• Documentation Requests: Creators may be required to submit additional proof (via submitMilestoneProof) within 7 days (RESUBMISSION_WINDOW) of rejection.
• Fund Recovery: Unspent funds from rejected milestones are returned to the treasury after the resubmission window via refundUnspentFunds.
• Sanctions: Repeat offenders may be banned from future treasury grants, enforced by denying VOTER_ROLE approvals or admin intervention.

7. Emergency Fund Controls

In exceptional circumstances (e.g., suspected fraud, regulatory action, smart contract vulnerabilities), the treasury may:

• Pause Disbursements: The contract owner may halt operations if a pausable mechanism is added (currently not implemented—future update recommended).
• Require Verification: Additional KYC or milestone checks may be imposed via setEmergencyWithdrawalOverride for withdrawals exceeding 5 ETH.
• Reassess Grants: Existing approvals may be reviewed and revoked by VOTER_ROLE holders or administrators if misuse is evident.

These measures aim to protect treasury integrity, subject to smart contract capabilities.

8. Amendments to This Policy

Creova reserves the right to amend this Policy to reflect changes in governance practices, regulatory requirements, or treasury management needs.

Significant amendments will be announced on our website ([www.creova.xyz]) or via email/X at least 14 days before taking effect. Minor updates (e.g., clarifications) may take effect immediately.

Continued participation in the treasury system after amendments constitutes acceptance.

9. Contact Information

For treasury-related inquiries, contact us at:

• Email: adam@creova.xyz
• Website: www.creova.xyz

By participating in the Creova treasury system, whether as a funder, creator, or voter, you acknowledge and agree to abide by this Treasury & Governance Policy.