Stop choosing between
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Multiliquid Treasury is backed by tokenized U.S. T-Bill exposure held in two regulated tokenized U.S. Treasury funds - the WisdomTree Government Money Market Digital Fund (WTGXX) and the Janus Henderson Anemoy Treasury Fund (JTRSY) - plus a 5-10% stablecoin liquidity buffer to absorb redemptions. JTRSY carries an AAAf / S1+ rating from S&P. Holdings are published daily.

Multiliquid Treasury is issued by Uniform Treasury SPV, LLC, a Delaware bankruptcy-remote special-purpose vehicle wholly owned by Uniform Labs, Inc. The SPV holds all underlying TMMF and stablecoin assets in audited smart contracts, segregated from all other operations of Uniform Labs.

Primary holders can redeem for any stablecoins or TMMFs in the Liquid Treasury portfolio, atomically, so there are no size limits on redeemability. If there is more stablecoin redemption demand than stablecoins in the portfolio, a number of measures are in place to rapidly access additional liquidity. For stablecoin redemptions beyond the buffer at any given time, TMMFs are redeemed to issuers for stablecoins based on issuer redemption timeframes.

KYC/KYB typically completes in under 24 hours for entities with standard documentation. Once approved, deposits can be made immediately.

Liquid Treasury is available to U.S. and non-U.S. accredited and institutional investors. Depositors must satisfy KYC/KYB and other onboarding requirements. Additional terms apply to secondary Multiliquid Treasury holders. Not available in certain restricted jurisdictions.

No lockup. Redeem any time, any day. Liquid Treasury investments accrue interest based on the prevailing 3-month U.S. T-Bill rate, starting on the second business day. The interest rate is structured to reflect the liquidity buffer. Over time, as scale and buffer efficiency improve, the contractual rate aims to approach 100% of the underlying T-Bill yield. Yield accrues continuously and is paid out real-time on withdrawal.

There is no cost to use Liquid Treasury. The interest rate paid on Liquid Treasury deposits is transparently published and detailed in onboarding documentation.

Liquid Treasury is fully transparent and on-chain. Reserves are held in audited smart contracts. Holders interact with the contracts directly.

Yes. All contracts have been audited by Cantina and Zellic. Reports are published in our documentation.

Multiliquid Treasury accrues yield linked to U.S. T-Bills. For U.S. holders, this is generally treated as interest income for federal tax purposes. Tax treatment depends on the holder's jurisdiction and status - consult a tax advisor. We provide 1099 documentation for U.S. holders at year-end.

We ask treasurers to evaluate the following principal risk categories: Underlying credit risk. Multiliquid Treasury is backed by WTGXX and JTRSY, both of which hold short-dated U.S. T-Bills, as well as stablecoins. Credit risk is primarily sovereign U.S. government risk at the underlying level, layered with the operational risk of each fund manager and stablecoin issuer. Smart contract risk. Liquid Treasury's asset holdings, mint/burn logic, and cross-chain bridging are implemented in audited smart contracts. Bugs, exploits, or governance attacks remain a tail risk in any on-chain product, albeit mitigated in this case by the permissioned, recoverable nature of tokenized treasury funds like WTGXX and JTRSY. Stablecoin buffer risk. The 5-10% liquidity buffer is held in stablecoins, which carry their own issuer and depeg risk. Operational and bridge risk. Cross-chain transfers via LayerZero introduce dependence on the bridge's continued operation. Operational issues with onboarding, KYC/AML enforcement or fund-redemption rails could delay (but not impair) settlement. Regulatory risk. Treatment of tokenized treasury funds, stablecoins, and structuring arrangements is still evolving in several jurisdictions. The product is designed within current rules; future changes could affect eligibility or operations. All potential risks should be considered by investors prior to use.

The buffer is held in stablecoins (USDC at launch), inside Liquid Treasury's audited smart contracts. Two things to note: Custody. The buffer is not held with a third-party custodian. It sits in the same audited contracts that hold the TMMF positions, with the same audit history and robust access controls. Issuer risk. Stablecoins carry their issuer's reserve, banking, and operational risks. In the event of an issue impacting USDC, the buffer would be exposed to the same depeg or freeze risk as any other USDC holder. We monitor the buffer composition and can rebalance toward TMMF holdings or alternative stablecoins if a structural issue emerges. Sizing. The buffer is managed against projected net stablecoin redemptions, not sized larger than necessary. Reserve TMMFs (which carry independent regulatory protections) remain the dominant share of the portfolio.

Both WTGXX and JTRSY are regulated U.S. Treasury funds with their own oversight and protections. WTGXX is registered under the U.S. Investment Company Act of 1940 and distributed by WisdomTree Securities, Inc. JTRSY is BVI-regulated and rated AAAf / S1+ by S&P. Historical precedents of regulated, short-dated U.S. Government/Treasury money market funds breaking the buck are extremely rare. That said, if one fund suspended redemptions, traded materially below NAV, or otherwise became impaired, Liquid Treasury's exposure to that fund could be affected in proportion to its allocation. Diversifying across two managers in different jurisdictions (U.S. and BVI) is a deliberate structural choice to reduce single-point-of-failure exposure. We expect to add additional issuers over time as Liquid Treasury scales.

All contracts have been audited by Cantina and Zellic, with reports published in our documentation. Upgrades to contracts or contract logic require multiple authorized signatures and a mandatory time-delay before taking effect, giving holders an opportunity to redeem if they disagree with any proposed change. Any future upgrade is re-audited before deployment.