The following reflects the views of L2BEAT’s governance team, composed of @krst, @Sinkas, and @Manugotsuka, and it’s based on their combined research, fact-checking, and ideation.
While we’re supportive of consolidating idle USDC and utilizing it to generate yield, we do not think that the Events Budget should be dissolved. There have been numerous events since the DAO Events Budget was established, during which the DAO could have had a presence but didn’t. On the other hand, there were also numerous occasions where the DAO community took initiative and organized something, but without support from this event budget (examples: Arbitrum Day at ETHMilan, Arbitrum Run and Delegate Dinner at EthCC, upcoming ArbitrumDay at ETHLatam).
If anything, we think this is a hint that the problem isn’t the need for such a budget, but rather its administration. Its entire structure, as also confirmed in this proposal, was based on requests, rather than proactively seeking to craft an events strategy and pursue Arbitrum’s presence in various events.
Perhaps it’s more prudent to move the funds’ administration from Entropy to a different party. In the meantime, the USDC could be utilised for yield, but without scrapping the idea of the Events Budget altogether.