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Arbitrum · closed proposal
Reallocate Redeemed USDM Funds to STEP 2 Budget
Voters
2,949
ARB voted
197.09M
≈$15.44M
Token price
$0.08
AI summary
Summary pending — generation runs every 15 minutes.
Voting results
For179.42M (91.0%)
Against33.26K (0.0%)
Abstain17.64M (8.9%)
197.09M ARB · ≈$15.44M · 2949 votersblock 344236413
🐳 Whale votes
0 votes > 5% VPNo whale votes on this proposal.
Full proposal
Original markdown · Arbitrum
Non-Constitutional
This proposal has been worked on in collaboration with the entire STEP 2 Committee where consensus was reached on this proposed path forward.
Abstract
The Arbitrum DAO held approximately $3.5 million in USDM, a yield-bearing stablecoin from Mountain Protocol. This treasury asset purchase was a part of the STEP 1 program. Following Anchorage Digital Acquiring Mountain and the announced wind-down of USDM, the Arbitrum Foundation has already redeemed the entirety of the DAO’s USDM position, which is now in U…
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