TMC Stablecoin Recommendation
AI summary
This proposal, recommended by the Treasury Management Committee (TMC), asks the Arbitrum DAO to approve a strategy for managing a portion of its treasury. Specifically, it proposes converting 15 million ARB tokens into stablecoins. These stablecoins would then be managed by three different partners: Karpatkey, Avantgarde & Myso, and Gauntlet, with each managing an equal 33% share. This is part of a larger plan to diversify the DAO's treasury holdings.
If passed, the Arbitrum DAO will convert approximately $15.6 million (based on ARB's current price of ~$1.04) worth of ARB tokens into stablecoins, which will then be managed by the three selected firms. This diversifies the treasury, potentially reducing exposure to ARB price volatility and generating returns on stablecoin holdings. The three named firms will benefit from managing these funds.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
TLDR; The TMC recommends that the DAO votes for #Yes, Deploy Stablecoin Strategy The three possible combined outcomes are:
- YES, Deploy Stablecoin Strategy
- NO, Deploy Nothing
- Abstain The vote will be conducted via Single choice voting.
Key changes:
- The Arbitrum Foundation has expressed that they’ll be converting 15M ARB to Stablecoins per their internal policies.
- In terms of the process to withdraw stablecoins to cover service provider shortfalls, we will define this process soon in a separate forum post and be holding an additional Snapshot vote to avoid forcing…