# Introduction

> By the OVN tokenholder community

**Published by:** [Overnight Finance Tokenholders](https://paragraph.com/@publication-1775819938478/)
**Published on:** 2026-04-10
**URL:** https://paragraph.com/@publication-1775819938478/introduction

## Content

This publication has been set up by Overnight Finance (OVN) tokenholders to publish and discuss material related to their tokenholder rights. The first publications following this introduction will provide transparency into the actual treasury assets that belong to OVN tokenholders. Maxim Ermilov (Max), the founder of Overnight Finance, has not been straightforward in his communication about treasury assets. Tokenholders have identified a set of addresses and an estimated value of the assets held on those addresses, which, to the best of their knowledge, belong to the protocol and therefore to OVN tokenholders. Max’ response is that these claims grossly exaggerate the value of the treasury. However, he has not provided a clear explanation of what the actual addresses and value should be, nor has he offered logically sound reasoning. We will provide a clear overview, including substantiating evidence, for all assets we believe to be part of the treasury and therefore belonging to OVN tokenholders. However, due to the complexity and co-mingling of protocol funds and Max's personal funds, it might include some inaccuracies. This should nevertheless provide a well-defined starting point, enabling tokenholders and Max to engage in productive, fact-based discussions where their viewpoints differ.

## Publication Information

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