Thank you for this great proposal ! I agree that Arbitrum DAO requires effective Treasury Management for its long-term sustainability, including using stablecoins to pay service providers and generating ‘safe’ yields on ETH.
I believe that Treasury Management should be conducted by a single entity with clear objectives rather than by two committees. I understand your answer about the rationale of having two committees with different skill set but imo it is crucial to have a macro overview and a comprehensive perspective that oversee the balance between ETH exposure, stablecoins, and ARB tokens. I guess the OpCo position you mentioned will be accountable and will have this role and responsibility ?
The following comments are more ideas that can be useful for the future TMC and GMC:
Regarding the conversion of ARB to stablecoins, which could impact its price, have we considered using ARB tokens as collateral on AAVE to borrow stablecoins? There is still a capacity for supplying 12 million ARB before reaching the cap, as seen here: AAVE Reserve Overview this could be a way to get Stables without selling ARB token.
To demonstrate alignment with Ethereum, it could be good to allocate ETH to some LSTs/LRTs that support minority Clients to avoid having one that represents >66% of the total. You can learn more about this in this tweet from our Treasurer at Kleros Cooperative, Juan.
Good to see Arbitrum DAO moving forward with Treasury Management !