We are voting against this proposal in its current form. While we support the main overarching goals: utilizing idle ETH to generate yield and using stablecoins for operating expenses, we have identified two critical shortcomings:
- Excessive Council Structure: The inclusion of two separate councils is unnecessary and creates operational inefficiencies. Although this structure was informed by feedback during the working group calls, we strongly recommend consolidating into a single council. This council should oversee all assets (ARB, ETH, and USD) and establish a standardized Request for Proposal (RFP) process along with a unified reporting framework. The proposed bifurcation into ARB/USD and ETH subcommittees is redundant, as qualified council members should be capable of managing all asset classes without requiring additional segmentation.
- Council Selection Process: We do not support the inclusion of a preselected council and believe that the DAO should have the opportunity to elect its representatives. We propose that a standard election is held to fill two council seats, which would then form a three-member committee alongside Entropy. To account for the increased workload, we also suggest a 50% pay increase for council members.
By implementing these changes, the proposal would streamline operations, improve accountability, and reduce the council budget by approximately 30%. We are confident these adjustments would better serve the interests of the DAO while achieving the proposal’s objectives. If these changes are included by Tally, we would be willing to change our vote in favor of the proposal.