We are in favor of allocating additional funds to cover the full one-year tenure for the STEP Program Manager. This decision is critical for ensuring continuity, stability, and avoiding operational disruptions to a program that has already proven to be a successful DAO initiative.
Key Points:
- Timely Compensation: The manager should be paid their quoted amount. It is important to maintain the trust and accountability of external service providers by honoring the original USD-based contract.
- Utilizing Yield: Since the yield from the RWA portfolio is sufficient to cover the shortfall, using these funds for payment is the most logical step. This approach will allow us to avoid liquidating RWAs or re-launching another election process, both of which would incur additional costs and delays.
- Lessons for the Future: This situation offers a key learning opportunity for the DAO. Future proposals should include clearer processes for converting ARB to USD upfront to mitigate any issues arising from market volatility. Additionally, building a buffer into operational expenses could prevent future budget shortfalls.
We support moving forward without delay, collecting yield ASAP and ensuring that the program runs smoothly for the entire year, while learning from these challenges to improve proposal execution in the future.