Thank you for the update! And sorry about the STEP and treasury management programs, should’ve double checked who was managing the multi-sigs for those.
Re-reading the proposals we’re seeing this for the Treasury Management V1.2 proposal
In order to reduce ambiguity around tax, legal, and any other possible liabilities, we suggest that the Arbitrum Foundation serves as the custodian/counterparty of the funds at all times. The TMC and the GMC simply help coordinate the process, the DAO still remains as the ultimate decision maker, and the Foundation serves as the custodian/counterparty of the funds and thus abides by Cayman Islands law. While the MSS is great for serving as the DAO’s solution to multi-sigs, it is clear that the Arbitrum Foundation is the most logical party to custody these funds, until the OpCo’s legal entity is stood up and fully operational, to avoid unforeseen legal liabilities.
If this vote passes onchain via Tally, 7,500 ETH and 26M ARB will be moved to this address, and then transferred to two separate foundation controlled addresses. No funds can be deployed by either the TMC or GMC—they are only tasked with providing options for the DAO to vote on, and the Arbitrum Foundation will be subject to act in accordance with how the DAO votes. The additional 1M ARB being transferred to the Foundation will be liquidated for 300k USDC in the most suitable manner to pay committee members, with the remainder immediately returned to the DAO treasury.
and this for STEP 2.0
We will transfer 35 million ARB to a foundation managed wallet (0x54FE3425f09854E15081fa5B3276afCB4C46FCa2). See confirmation here: Non-Constitutional: Stable Treasury Endowment Program 2.0 - #81 by stonecoldpat
Apologies if we’re not understanding properly or asking the right person but @stonecoldpat could the foundation also make sure to delegate to the exclude address please?