For purposes of this Contract, "Treasury" includes sub-bodies of the Treasury including the Bureau of the Fiscal Service, the Office of Financial Research, or a Treasury-authorized entity conducting a public transaction.

The Payout Criterion includes central bank digital currencies (CBDCs), stablecoins, tokenized U.S. government securities, and other assets the Treasury formally recognizes as blockchain-based. The transaction must occur on a blockchain network that allows for public verification or is explicitly referred to by Treasury as blockchain-based.

The following will trigger the Payout Criterion:

• If Treasury orders a blockchain-based disbursement, but the Federal Reserve executes it as its fiscal agent, then the market resolves to Yes.
• Smart contract executions will trigger the Payout Criterion only if Treasury initiated them.
• If a Treasury-affiliated entity (e.g., the Federal Reserve) sends funds on Treasury's behalf, the Treasury must explicitly confirm its role for the transaction to trigger the Payout Criterion.

The following will NOT trigger the Payout Criterion:

• Test transactions, simulated value, and transactions on test networks will NOT trigger the Payout Criterion.
• If Treasury explicitly labels a transaction as a "test," "experiment," or "pilot," it will NOT trigger the Payout Criterion.
• Transactions settled via third-party custodians do NOT trigger the Payout Criterion unless explicitly acknowledged as a Treasury transaction.