STEP 2 Committee Preferred Allocations

DAO Programs & Initiatives STEP Applications & Updates
7

Update on DAO STEP II Token Conversions:

  • Over the past 2 months, the market has experienced unprecedented volatility. In light of this, the foundation has not sold any ARB tokens allocated to the DAO’s STEP program. This decision aligns with our internal treasury policy, which restricts token sales during periods of high market instability. The same standard has been applied to the DAO’s holdings to ensure consistency and prudent management.
  • The Foundation will responsibly initiate the conversion once the market condition stablizes & we will provide a further update when progress is made.
  • The DAO retains the option for us to return 35 million ARB tokens back to the DAO’s treasury if needed via a temperature check vote.
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