{"postId":"opengov:456","kind":"opengov","title":"Top up HSM HOLLAR buyback reserves from Treasury operating balance","body":"```\nFellow Hydrators,\n\nThe HSM has been doing its job keeping HOLLAR close to peg, but its \nbuyback inventory is now spent — as flagged in both #452 and #453. \nWhile those two referenda address the demand side (borrow rate) and \nsupply side (mint cap), neither restocks the HSM itself.\n\nRef #355 previously funded HSM operations from Treasury revenue \nand that cycle has run its course. This proposal repeats the pattern: \na direct Treasury top-up of the HSM HOLLAR buyback reserves so the \nstabiliser has ammunition to defend the peg.\n\n**What it does:**\n\nA single Root call that transfers a portion of Treasury operating \nreserves to the HSM replenishment address. The Treasury currently \nholds substantial idle reserves that are not allocated to any active \nprogramme.\n\n**Why Root:**\n\nTreasury disbursements for protocol stabilisation mechanisms sit \noutside the scope of the `dispatchAsTreasury` origin available on \nthe Treasurer track. Moving funds from the Treasury pallet account \nto the HSM contract address requires Root, same as #355.\n\n**Net effect:**\n\n- HSM receives buyback inventory to actively defend the HOLLAR peg\n- Funded entirely from existing Treasury reserves — no new emissions\n- Complements #452 (rate increase) and #453 (mint cap) by restoring \n  the automatic stabiliser\n- Single call, no impact on Omnipool prices or positions\n\nThe three-part recovery — #452 rate, #453 cap, plus a buyback refill — \ngives HOLLAR its best chance of returning to peg.\n\nStay hydrated :)\n```","bodyFormat":"markdown","tldr":"","labels":[],"linked":[],"author":{"account":{"accountId":"0x48ab38878f2223ee4c9508e3c8570d23b7a1f2ea24e4d5b9f572c648a7667141","address":"12eHK2tVYNKKr6trBCjJFVXYmT3BQnamGy5WWbFEXFT5oywz","emoji":"🦍","tag":null,"identity":null,"profile":null},"legacyName":null},"authority":"native","revision":1,"createdAt":"2026-11-12T19:32:48.000Z","editedAt":null,"lastActivityAt":"2026-11-12T19:36:05.479Z","commentsCount":1,"updatesCount":0,"upvotes":0,"threadKey":"opengov:456","source":{"name":"subsquare","id":"6af6149b781cee3ac449ae0b","cid":null,"removed":false},"bannerCid":null,"banner":null,"poll":null,"locked":false,"media":{},"hidden":false,"generation":"f0833529285a8e48"}