In the round treasury, a contract on Solana with no private key. Not at Krows or in the founder’s account.
It only leaves through an approved milestone, an unvetoed free withdrawal, a refund, your own withdrawal while the round is open or a referendum distribution. You can check its balance in an explorer.
Related guide: Verify a treasury on Solana. How to find a startup’s round in an explorer, check it is controlled by the Krows program, reconcile its balance and follow every outflow.
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