The treasury contract is a simple vault implementation holding all the funds collected by the protocol. Access to the treasury is secured by a 3 of 5 multisig held by the Core Team.
If for instance a user purchases a BCT bond, the bonded BCT is fully taken in by the treasury in return for the market equivalent of KLIMA bonded for (plus or minus any discount or premium priced into the bond). New KLIMA will be minted based on the RFV of the bonded assets.
Below are listed treasury contracts by version, where the latest version represents the currently active contract.