Approval of STEP committee recommendations
AI summary
This proposal asks the Arbitrum DAO to approve a list of six service providers recommended by a special committee. These providers will help diversify 35 million ARB tokens from the DAO's treasury into various stable, liquid, and yield-bearing assets. The specific allocations are 11 million ARB to Securitize BUIDL, 6 million ARB to Ondo USDY, 6 million ARB to Superstate USTB, 4 million ARB to Mountain USDM, 4 million ARB to OpenEden TBill, and 4 million ARB to Backed Finance bIB01.
If passed, the Arbitrum Foundation and program manager will proceed with allocating 35 million ARB (approximately $35 million based on current prices) to the selected service providers, aiming to enhance the stability and returns of the DAO's treasury. If rejected, the committee will re-evaluate and propose a revised list, potentially delaying the diversification process.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
In April 2023, the Arbitrum DAO passed a proposal for diversification of 35 million ARB into stable, liquid and yield bearing assets.
The committee appointed to examine applications has come out with its list of recommendations. We commend all 30 service providers that submitted an application under the program. After perusal of each application, the final recommendations are as follows (denominated in $ARB tokens);
Securitize BUIDL - 11 million Ondo USDY - 6 million Su…