First of all, thank you for your proposal. When we look at the LSD ecosystem, especially Arrakis Finance users prefer to keep their assets on Ethereum. The requested grant amount is quite high, representing 1.612% of the total grant amount. Other projects seeking grants of this magnitude typically have Arbitrum TVLs ranging from $50-100M. However, Arrakis Finance’s Arbitrum TVL is only $1M. Particularly, considering that the requested grant will be distributed over 3 months, it’s challenging to believe that LSD holders will stay on the Arbitrum network for an extended period.
For all these reasons, ITU Blockchain votes “Against” this proposal.