Voting FOR. I wish we didn’t have to vote on these kinds of things. These are very clear decisions that we should just move forward with.
This is basic treasury management, not something that needs DAO governance overhead.
1 Like
We vote for this proposal because this is the most straightforward way to resume earnings without additional overhead / risk.
Redirecting the idle $3.5M USDC into STEP 2’s yield strategy seamlessly restores the treasury’s income stream after Mountain Protocol’s shutdown. The move preserves the assets’ original yield-seeking mandate, adds no new counterparty or market risk after STEP 2 is already approved by the DAO.
We support this proposal and echo @maxlomu’s suggestion; the Treasury Management Committee should have some flexibility to reallocate funds across pre-approved STEP baskets in response to changing conditions, as long as there’s a clear, opt-out mechanism for the DAO.
“Conditions change for one of the approved assets → Treasury Management Committee should be able to optimistically announce a reallocation into the rest of the basket.
The DAO would then have xx days to veto the move.” — @maxlomu
This kind of delegated autonomy, paired with DAO oversight through a timed veto window, strikes a healthy balance between operational efficiency and decentralized governance. It avoids unnecessary friction while still giving the DAO the final say.
I’m voting FOR - because the money from USDM is just sitting in USDC and not earning anything. Moving it to the STEP 2 budget lets it start earning yield again, which is better for the DAO.
Voting FOR
This is an administrative task on something we already voted for… feels like a waste of a vote. In general, we should use more optimistic governance, meaning if there’s no opposition or concerns raised, we should just move forward rather than requiring active votes from everyone on these obvious votes. No need to waste energy of delegates and in this case, waste the money that could have been earned, delaying its execution just so everyone can vote yes.
1 Like
I’m voting in favor as it seems the most rational choice: keeping these funds idle in USDC would mean missing out on potential yield and leaving treasury resources underutilized. No brainer, so I fully support it
1 Like
The following reflects the views of L2BEAT’s governance team, composed of @krst, @Sinkas, and @Manugotsuka, and it’s based on their combined research, fact-checking, and ideation.
We are voting FOR the proposal.
This is a sensible and logical proposal. Initially, these funds were allocated to STEP and deployed to earn a yield. They were only redeemed and converted to USDC because of Mountain Protocol winding down, not because of any internal decision to do so. Therefore, it makes sense to keep these funds allocated to STEP and redeploy them alongside the funds from STEP 2 to continue earning yield for the DAO.
1 Like
I agree with the reasoning shared by others and will be voting FOR.
1 Like
As per my previous note I have now voted “For”.
We agree with the allocation to WTGXX, USTBL and BENJI, switching our USDM position to these other assets.
We also agree with Camelot’s suggestion that it is important to have a structure of pre-approved assets, to avoid everything going through votes at the DAO - optimizing the capital management process carried out by Entropy.
voting For on the current offchain vote because in my opinion this vote needs to reach a 3% non-constitutional quorum to be a legitimate DAO decision, and it makes total sense to do it.
Voting “For”
I believe we should find a way to make this an administrative function rather than a DAO voting one. While the transparency is greatly appreciated, there really isn’t a reason not to do this (since from the sounds of it, it is a winding down of a project out of our control). While not significant, the process of DAO voting does add unnecessary delay to all this resulting in lost interest.
DAOplomats voted FOR this proposal on Snapshot.
This proposal is quite straightforward. WIth Mountain winding down and the USDM already converted, this is the most favorable next step and is an easy yes vote.
Voting FOR for the reasons mentioned here
As in @web3citizenxyz representation, voting for. Below the rationale: