Hey everyone
The July iteration of the Token Flow Report represents Regen’s last report. We firstly wanted to use this opportunity to thank the DAO for their support and engagement with our work, but to also highlight some of the key takeaways from this process.
Regen Financial | Final Token Flow Report Summary
Key Wins at a Glance
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Set the transparency benchmark - Delivered the DAO’s first-ever financial report, providing the first comprehensive view of treasury flows and spending.
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Unlocked yield from idle ETH - Identified the opportunity to deploy idle ETH into yield-generating strategies, later spearheaded by Entropy and implemented via the Treasury Management proposal.
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Cut operational costs - Co-designed the Multisig Support Service (MSS) proposal with Entropy, reducing multisig signing expenses and improving funding efficiency.
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Recovered unproductive funds - Flagged millions in idle or unclaimed assets from delayed or failed fund returns, enabling redeployment to higher-impact initiatives.
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Hedged against ARB volatility - Recommended diversification strategies, assisting with the creation of the Treasury Management vertical.
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Trusted financial partner - Provided expert guidance to delegates on complex financial and accounting matters.
Background of the Token Flow Report
Regen’s engagement began under a Plurality Labs Firestarters grant, where we delivered the DAO’s inaugural financial report - setting a new transparency standard and surfacing key opportunities for treasury improvement.
Building on that foundation, we were contracted to produce a monthly Token Flow Report for the MSS to provide a single, comprehensive view of inflows and outflows on MSS wallets.
Though initially scoped to MSS funds, we voluntarily expanded coverage to capture all DAO financial activity at a high level, including Foundation and GCP flows. This reporting has consistently informed strategic decision-making, spotlighted inefficiencies, and guided tangible improvements across the organization.
High-Impact Interventions
1. Driving Conversation on Productive ETH Allocation
Repeatedly identified idle ETH as an opportunity for yield. These insights directly informed Treasury Management proposals, leading to the Growth channel deploying ETH into productive strategies and generating measurable returns.
2. Addressing Inefficient Capital Allocation
Exposed large sums sitting idle or returned months late, with significant value loss:
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Plurality Labs - 518k ARB held 6+ months, value dropped from ~$350k to ~$240k before being returned following repeated flags.
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STIP & LTIP - Nearly 1M ARB left unclaimed in Hedgey for ~9 months before return.
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Delegated Domain Allocation - ~$198k USDC and 4k ARB transferred months past program end.
Recommended redeployment of these funds into pressing priorities like the STEP program manager shortfall.
3. Mitigating Operational Shortfalls
Identified cases where ARB-funded proposals faced USD cost pressures. Advised partial ARB-to-USD conversion, feeding into Treasury Management and the dedicated USD pool. Flagged and assisted with ARDC member allocation errors.
4. Streamlining Multisig Signing Fees
Identified overspend on multisig singers’ services. With some members being paid >6k per month to sign a handful of transactions. After flagging this issue, we worked closely with Entropy to develop a solution that passed governance voting with 99.5% support.
Challenges Faced
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No single point of contact - Feedback and execution pathways were unclear, slowing adoption of recommendations and continual refinement of report.
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Uneven delegate engagement - While some delegates engaged extensively with the report, we wanted the DAO to challenge our thinking, ask for more analysis and put our team through their paces. While we are immensely proud of the report, our team felt they had more to give.
Finally, we believe this initiative - and the DAO as a whole - would have benefited greatly from a single finance point of contact. This role could unify fragmented finance initiatives under a cohesive vision and provide financial service providers with a clear, consistent engagement channel within the organization that is otherwise lacking.
Closing
With this final report, we thank the Arbitrum community for the opportunity to contribute. Regen Financial is proud of the role it has played in strengthening the DAO’s financial health and transparency, and we wish this outstanding community continued success in the years ahead.
Links to reports:
Arbitrum DAO Token Flow Report - Firestarter
Arbitrum DAO - Monthly Token Flow Report - Genesis to July 2024
Arbitrum DAO - Monthly Token Flow Report - August 2024
Arbitrum DAO - Monthly Token Flow Report - September 2024
Arbitrum DAO - Monthly Token Flow Report - October 2024
Arbitrum DAO - Monthly Token Flow Report - November 2024
Arbitrum Token Flow Report - December 2024
Arbitrum Token Flow Report - January 2025
Arbitrum Token Flow Report - February 2025
Arbitrum Token Flow Report - March 2025
Arbitrum Token Flow Report - April 2025
Arbitrum Token Flow Report - May 2025