Vote: (1st) Additional funds for one year, (2nd) 6 months from available funds, (3rd) New election at $86,581 per year, (4th) Liquidation of RWAs and STEP, (5th) Abstain
Title and Proposal Link: Non-Constitutional: Terms of Tenure for STEP Program Manager
Voting Rationale Link: Alex Lumley (Savvy DAO) Delegate Communication Thread - #22 by AlexLumley
=== Commentary on Proposal ===
Several DAO members raised concerns about the lack of foresight in managing ARB volatility and converting it to USD. This is a recurrent problem and must be addressed in the future. As @Frisson mentioned, we should have better plans in place to manage currency fluctuations and create buffer zones in our budget. The conversation around using ARB as the standard currency, as @thedevanshmehta noted, also continues to evolve, but there are valid concerns about the liquidity and volatility of ARB in relation to USD.
In conclusion, while mistakes were made in the budgeting process, securing additional funds for the one-year tenure is the most practical solution, ensuring the continuity of the STEP program without unnecessary delays or disruptions. It also provides an opportunity to learn from these challenges and improve our budgeting and treasury management processes moving forward.