It wouldn’t be the total value, it would only be 10% of the first year’s allotment not the total treasury amount. If today’s $SMR value it would be about 7-9% for not just the running cost, but also the legal entity setup. That alone is about 0.5% right there and this is unavoidable, we have to setup an entity to protect not just the treasury but also the committee.
The great thing is, the running costs will stay fixed (except to be adjusted with inflation) while the Shimmer Treasury will gain in value as the ecosystem grows. This of course means the percentage of yearly treasury value will most likely decrease as the $SMR price increases.