Before jumping on the topic, quick question.
At the time of tally (20th of march) the 100k arb were worth around $180k usd.
At the end of tally (10th of april) the 100k arb were worth around $140k.
To have this, converted, worth $86k, we need to have had a conversion that happen not before the 17th of june I believe.
The step program manager application thread was posted the 23rd of april; it doesn’t specify that costs of applicants should have been posted in arb, but i also understand that would have just not been the right move for request to external financial professionals to quote their service in a crypto currency not pegged, or anything that was not usd. Matter of the fact the example you provided was in usd.
The first application came in the 21st of may, and already quoted prices in usd.
My question is: why was there this huge delay in converting the arb in usd?
Also, this is something that we need to address as a dao and is not specific to only this program: if an entity is requesting arb to pay another entity in a non arb denominated way (usually usd), the funds MUST be converted right after being received in a tally vote, obviously compatible with the tools used (ie: aera). We can’t just keep going in circle on this.