> For the complete documentation index, see [llms.txt](https://blakhatsmusic.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://blakhatsmusic.gitbook.io/whitepaper/other/treasury.md).

# Treasury

## Initial Sales

All ADA received from the initial mint and all secondary sales of the Blak Hats Passes is allocated as shown below, the Label Treasury amount is locked at 50% and will never be less than that.

<figure><img src="https://1465901689-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FZP3tyEWMCfJ6Dt34N8A1%2Fuploads%2FtiK0vcdViMXMxrj7XsPU%2F1.png?alt=media&amp;token=6c4798cd-d0c4-4a76-b6a3-b38d0ccbb17c" alt=""><figcaption><p>Blak Hats Pass Allocation</p></figcaption></figure>

## Artist Release Budget

Below is an example of how a budget could be allocated for a release. The allocation % will change depending on the artist's needs.

<figure><img src="https://1465901689-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FZP3tyEWMCfJ6Dt34N8A1%2Fuploads%2FygagDjzhDQRrWs39YYrv%2F2.png?alt=media&amp;token=20aea120-76a0-43c1-b005-f7f02eb2a809" alt=""><figcaption><p>Artist Release Budget Allocation</p></figcaption></figure>

## Artist Royalties

We believe in a fair payment system, so Blak Hats released artists receive 50% of all income received by the label, there are no costs to recoup.