Proposal: TMC Recommendation
Vote: For Only Deploy Stable Strategy
Rationale: We will vote to support only the stable strategy as recommended by TMC. The stablecoin proposals are solid, and splitting funds equally among Karpatkey, Avantgarde & Myso, and Gauntlet ensures diversified risk and balanced exposure. We believe it’s reasonable to pay management fees to Karpatkey and Avantgarde, given their expertise in actively managing liquidity on platforms like Uniswap v3 and Camelot v3. Our calculations indicate that the net yield from this strategy would be roughly 7.8% to 13.4% on the $15M allocation,translating to a net profit between about $1.16M and $2M. However, given that ARB was originally around $1 and is now roughly $0.38, converting 15M ARB at these levels could cause significant selling pressure and panic among holders. For example, if ARB were to recover to $0.50, the increased asset value could potentially yield an extra $5M, far exceeding the modest yield from the stable strategy. This upside opportunity suggests that holding ARB until market conditions improve might be far more beneficial than selling now.
Proposal: GMC’s Preferred Allocations (7,500 ETH)
Vote: For
Rationale: We will vote FOR deploying capital on this proposal. It sets a solid foundation for generating stable income for the treasury.
Lido and Aave are safe and proven choices, with strong track records when it comes to security and performance. They’re a great fit for putting idle ETH to work efficiently. We’re also glad to see Camelot included, as supporting Arbitrum-native projects is something we value. Fluid is a promising addition as well, and we’re curious to see how it performs in this first phase.
Vote: For
Rationale: We’re voting FOR this proposal. Even though USDS will likely be supported by many bridges, adding the Sky Custom Gateway makes the user experience smoother by allowing official bridging through the Arbitrum UI. The contracts have been properly audited and verified, so we’re comfortable with the security. Overall, it’s a simple, low-risk step that brings Maker and Sky closer to the Arbitrum ecosystem.