As part of our ongoing treasury management collaboration with the Arbitrum Foundation, the GCP Foundation (now AGV) will begin receiving its operational expenditure (opex) budget directly in ARB tokens rather than in USD/USDC equivalents converted by the Foundation (as per the original Tally proposal).
This update follows the rationale previously outlined here:
- It alleviates operational overhead for the Arbitrum Foundation
- It grants the GCP Foundation greater flexibility in managing conversions
- It keeps our treasury processes consistent with those already employed by the Foundation
The GCP Council has voted in favor of this change. This adjustment is within the remit of the Council under the bylaws and does not impact the approved opex budget.
We are informing the DAO of this adjustment in line with our transparency commitments, giving delegates the opportunity to raise any concerns or objections. Unless otherwise raised, this change will be considered accepted after a one-week feedback period.