# Introduction to Ribbon Treasury

## **What is Ribbon Treasury?**

Ribbon Treasury are private Ribbon [Theta vaults](https://docs.ribbon.finance/theta-vault/theta-vault) built specifically for DAOs to run covered calls on their native tokens. These private vaults are segregated from the main Ribbon vaults, and run a custom strategy for each DAO. Each vault has a few unique parameters:

* **Strike Selection Methodology**\
  DAOs can choose how aggressive they want to be with regards to the strike selection methodology. 
* **Tenor**\
  DAOs can choose how often they want to run the strategy. The current Ribbon Vaults run a weekly strategy that automatically re-rolls, but DAOs can choose longer tenors.
* **Premium Currency**\
  DAOs can also choose what currency they want to receive the premiums in. For example, a DAO could elect to receive premiums in USDC or ETH, depending on their treasury diversification goals.

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