Camelot supports this proposal as we believe in consolidation principles and avoiding waste of resources to streamline organizational efficiency.
The current fragmented approach across TMC, GMC, and STEP committees has proven, at least on the side of cost, inefficient so far, and likely will show limitation in coordinating effort over time.
We understand that Entropy is stewarding this initiative and that Entropy responds to the DAO, so it is natural that they lean toward acting in the best interest of the DAO and, specifically, in making the DAO independent and positive revenue generating ofr itself. However, we want to avoid the same situation as previous GMC and TMC rounds in which inclusion of protocols, and especially Arbitrum native protocols, was extremely low.
Camelot believes there is significant margin to create yield strategies for the DAO with well-balanced risk through the utilization of Arbitrum protocols, so that we realize both revenue for the DAO and growth of the ecosystem. We think this point should be of primary importance in the initiative.
There is even more merit to this approach because Entropy is positioned to manage the DRIP initiative if that vote passes. While the initiatives are totally different, from a practical standpoint Entropy would then be able to manage both incentive assets and treasury assets. This creates even more reason for accountability and for also being sensitive toward growth goals for the whole ecosystem rather than focusing solely on traditional yield optimization. We sincerely think there is room for both.
We also want to be mindful about how this initiative represents another key one in which AF/OCL/Entropy have the lead. While it makes sense for AAEs to have this lead, since they are best positioned from a business, technological and ecosystem standpoint, we also need to remind ourself how these are just more reasons to keep the AAEs accountable since, at this point, all leverages are there for them to operate effectively. As expected from the Vision post, all strategic initiatives are now slowly transitioning in the hands or will be in the hands of AAEs. We won’t be able to have proper accountability without spelling out clearly what success looks like, and if something doesn’t play out as expected, the AAEs will have to properly analyze what happened, why, and find countermeasures that the DAO will have to agree upon.