Since the proposal passed, the OpCo has been coordinating with the AGV team for a structured handover of all operational and financial workstreams to ensure a smooth wind-down.
Going forward, we’ll be using this thread to issue updates related to the wind-down process as they become available so delegates can remain in the loop.
As of July 21st, 2026:
The Arbitrum Foundation has returned 86.18M ARB that it held on behalf of the AGV to the DAO treasury (July 7th)
The OpCo has coordinated the return of 42.99M ARB to the DAO treasury (July 21st)
The OpCo has coordinated the return of 7M USDC to the DAO, which was routed to the ATMC portfolio in accordance with the proposal to automate the consolidation of idle USDC to the ATMC portfolio.
More updates will be shared in due time. Until then, please reach out to Sinkas if you have any questions.
The OpCo team continues to work on the wind-down of the AGV program and is taking over oversight of the GCP Foundation. Below is a brief update on what has happened over the last few weeks since our last update.
New Council Appointed
OpCo Foundation has duly recommended, and a new GCP council has been appointed to oversee the entity, including regular foundation activities, investment oversight, and the DAO mandates passed by the DAO on July 2. The council consists of Coinflip, Pedro Breuer, and David Bolger.
Portfolio Review
We’re continuing our review of the companies in the portfolio, reviewing all available contracts and financial data to determine the best path forward for each. For some portfolio companies, we may make follow-on investments to honor the original commitments set forth by the AGV before the wind-down proposal passed.
Follow-on Investment Process
While wider aspects of the proposal are evaluated, an interim policy for handling any potential follow-on investments in existing companies in the AGV’s portfolio will be overseen by the GCP council, with consultation from OAT and former GM Michael Chang.
We will continue sharing more updates as more material news becomes available. In the meantime, if you have any questions, please message Sinkas on Telegram.
The OpCo team continues to work on strengthening oversight and operational control of the GCP Foundation, including the wind-down of active investments in the AGV program as approved by the DAO. Below is a brief update on key developments over the last few weeks since our last update.
Changes to the Foundation Board
As per our last update, a new GCP council was appointed to oversee the Foundation and the orderly wind-down of investment activities, maintain relationships, and provide follow-on support to our portfolio companies.
The council voted to appoint the OpCo Foundation as the sole director of the GCP Foundation, and that appointment has now taken effect.
Why the Change Was Made
Benefits of appointing the OpCo as the sole director of the GCP Foundation:
The consolidation of costs so that the GCP Foundation infrastructure can leverage common coverage of directors, insurance, and other operational costs with the OpCo Foundation while we continue reviewing go-forward options for the entity.
It ensures that the OpCo has full operational and governance visibility into all GCP Foundation accounts, activities since inception, and stewardship of any actions taken from the appointment forward.
Both help us to now be able to effectively administer the Foundation and program in an orderly way, with cost discipline and maintaining flexibility while evaluating all options.
What This Means for the DAO
The change involved no onchain actions and no movement of funds. The GCP council remains in place and continues to oversee the wind-down, and OAT continues to provide oversight on OpCo Foundation and its role with The GCP Foundation and its investment activity.
We will continue sharing updates as more material news becomes available. In the meantime, if you have any questions or concerns, please reach out to Sinkas on Telegram.
Financials
Since the proposal to wind down the AGV passed, a total of 129.18M ARB and 7M USDC have been returned to the DAO, with the 7M USDC routed to the ATMC portfolio to be deployed into yield-bearing strategies.