Camelot supports this proposal as it represents the most logical step forward given the circumstances. The reallocation of redeemed USDM funds to the STEP 2 budget is, in our view, a straightforward administrative action.
We obviously believe these funds should be allocated as soon as possible to avoid losing any interest on the principal.
More importantly, we think this precedent should set a standard for similar cases in which the DAO needs to recover stablecoins and wants to redeploy them quickly. For future instances where external factors force the redemption of approved treasury assets, we shouldn’t be required to go through a snapshot vote for redeployment into previously approved allocations. Such administrative decision should fall directly into the entities managing the treasury of the DAO.