> For the complete documentation index, see [llms.txt](https://bitcredit.gitbook.io/bitcredit-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bitcredit.gitbook.io/bitcredit-protocol/governance/how-it-works/treasury-and-distribution.md).

# Treasury & Distribution

The Bitcredit treasury is fully decentralized and dynamically governed.

* Funds are held in a multisig wallet
* Signers are selected from active voters of the previous epoch
* A majority is required to execute transactions (such as epoch distributions)

**Once a delivery is approved:**

* Payments are executed exactly as defined in the proposal
* $e-IOU is distributed to recipient wallets

**After distribution:**

* Remaining funds are transferred to a **new multisig treasury**
* Control rotates to a new group of active voters

**This creates a continuous cycle where:**

* Governance participants become treasury stewards
* Power is regularly redistributed
* No fixed group retains long-term control