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Treasury refers to the vehicle(s) storing cryptoassets and their value, controlled by an entity comprised of more than one user, such as a DAO or an investment fund.

A treasury may be comprised of traditional banking infrastructure, on-chain wallets, smart contract-based multisignature wallets, or a combination of both. Assets under management (AUM) is commonly used to measure the value of all combined treasuries and wallets an entity has, which can be measured in high fidelity using a combination of on-chain data and proof of reserves.