Generally speaking, we’re in favor of this proposal; however, we have a few concerns. While we know the previous STEP term recently concluded, we believe it would be best for the DAO to have some evaluation to see how performance of STEP was carried out previously. Steakhouse offered to complete monthly reports at the close of each calendar month following the first deployments for each program, should we expect something similar to this?
Moreover, when should we expect the first round of transparency reports, there was prior mention that these would come with the first deployment of capital from the program.
We understand that RWA deployments are a slow and lengthy process from start to finish, but as others have pointed out, it is difficult to move forward without some review of prior results or operational workstreams.
In the STEP Committee Recommendation thread, there was a list of general reflections, has there been any changes in the operational pipeline to answer some of the reflections prior?