Good initiative and I’ve got some suggestions about the token mechanics.
Converting 30M ARB to USD immediately is not the play here coz it creates unnecessary sell pressure. Instead, we should:
- Keep the funds in ARB and only convert when actually paying for audits
- Let auditors choose to receive payment in ARB if they want (maybe even incentivize it)
If we’re bullish on Arbitrum’s (which this proposal shows we are), then keeping funds in ARB aligns everyone’s incentives. Plus, if ARB price goes up, we could end up funding even more audits than the planned ~100 projects.
Think about it - converting everything upfront to USD is like saying “we don’t believe ARB will perform well in the next year.” That’s the opposite message we want to send to builders choosing which L2 to deploy on.
I support the core idea and trust the Foundation’s judgment on project selection, but let’s modify the treasury management approach.