Proposal: [Constitutional] AIP: Disable Legacy Tether Bridge
Vote: Abstain
Rationale: We acknowledge the logic behind this proposal and understand the benefits of disabling the legacy USDT bridge, particularly in reducing UX friction and preventing edge cases involving smart contracts and delayed withdrawals. From a technical maintenance perspective, this makes sense.
However, we’re choosing to abstain from this vote in alignment with concerns raised by @Sinkas
While the migration to USDT0 has already happened and most liquidity has moved accordingly, the decision to adopt LayerZero’s OFT-based bridge was made unilaterally by Tether and Offchain Labs, without any involvement from Arbitrum DAO. As a result, the DAO no longer controls the bridging infrastructure for one of the most widely used stablecoins on Arbitrum.
This proposal may appear procedural, but in effect, it formalizes a shift toward a bridging model with new trust assumptions, around lockbox ownership, verifier networks, and protocol-level upgradability, that were never openly discussed or approved by the DAO.
We are not opposed to cleaning up unused or problematic infrastructure, but we believe it’s important to be cautious about what our votes may implicitly signal. In this case, while disabling the legacy bridge seems reasonable, fully endorsing the current USDT0 setup without broader discussion on governance, control, and risk is something we’re not yet comfortable with.
For that reason, we’re abstaining.
Proposal: Consolidate Idle USDC to the ATMC’s Stablecoin Balance
Vote: For
Rationale: We are voting FOR this proposal, as it reflects a responsible approach to putting idle funds to work through yield-bearing strategies, in line with the DAO’s long-term goals.
That said, we suggest earmarking the Events Budget within the ATMC rather than dissolving it entirely. This preserves flexibility for supporting regionally relevant or DAO-native events that may not align with Foundation priorities or the Grants program, while still earning yield in the meantime.
We also encourage greater transparency around how funds will be allocated within the ATMC. A simple investment framework and regular reporting would help improve oversight and confidence among delegates.
Finally, if any unused ADPC Security Subsidy funds remain, it may be worth coordinating with future security or audit efforts, where relevant.
Overall, we support the proposal and appreciate the thoughtful adjustments made so far. A few refinements could further strengthen its long-term value to the DAO.