We are in favour of adopting Timeboost and will be supporting the option to collect bids in ETH. Our preference for collecting bids in ETH is twofold:
- For prospective auction bidders, dealing solely with ETH for both transaction fees and auction bids offers a simpler & more predictable experience.
- Collecting ETH provides greater optionality for the DAO.
On point 2, we are strong advocates for efforts that continue to grow Arbitrum’s Treasury in non-native tokens. The DAO has high expenses which consistently lead to large outflows of ARB resulting in large selling pressure. By collecting ETH vs burning ARB the DAO grows its treasury, diversifies its treasury, and most importantly provides optionality for future expenditures, staking programs, yield generation, etc.
We can always buy back and burn ARB if we collect bids in ETH, but we can’t grow the treasury in a diversified manner if we collect bids in ARB.