We invite applications to monitor the service providers selected under the Stable Treasury Endowment Program for diversifying 35 million ARB from our treasury into stable, liquid and yield earning assets.
Applications will be accepted until 15th May, after which we will summarize information on each provider and upload to Snapshot for the DAO to vote on.
To make an application, please follow these steps.
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Answer all the questions listed in the RFP below and create a separate topic in this category, with the title [(Provider Name) STEP Program Manager] . In case you run into issues uploading links or photos to the forum, please get in touch with me @TheDevanshMehta on Telegram or post in our public group .
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If there are certain details you do not want to or cannot upload publicly on the forum, you may share them privately with a dedicated email address we have setup for this purpose rwa@dao.arbitrum.foundation . We will work with you on creating the final public version that will be uploaded to Snapshot. Even if you submit certain details on email, you must answer all questions in the forum and indicate which questions have been sent via email.
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After you have created a separate topic with your application, reply under this post and link to your application.
If you are facing issues answering a particular question or it is not relevant, you may skip answering them. Don’t hesitate to get in touch for any help you need!
I. Applicant information
Name
Address (Headquarters)
City, State, Postal Code
Country
Website
Primary contact Name
Title
Country
Email, Telegram, Forum, & other methods of contact
II. Applicant Details
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Please describe your company
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Please give a bio of key team members and their relevant experience. Also mention the name and bio of the point of contact that will engage with Arbitrum DAO if selected. References are encouraged
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Total team size
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Number of Years in Operation
III. Applicant Performance
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Past experience if any for performing each of the roles and responsibilities described in the appendix (Divide your answer into three sections corresponding to the 3 parts in the appendix).
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Describe any conflicts of interest your entity, its investors or key personnel may have with any potential service providers selected under the program
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Under what situations would you make a recommendation for Arbitrum to withdraw its assets from a selected service provider to fulfill each aspect of the outlined scope in the appendix?
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Please list any experience your firm has in working with decentralized organizational structures
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What is the value of assets monitored by your entity?
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Can you explain how risk management (investment and operational) is being done for assets under monitoring?
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Describe the content, format and preparation process of performance reports. This should include details of interest earned and status of total assets. Provide a sample if available.
IV. Applicant Pricing
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Provide a copy of your standard contract, or one similar to what is being proposed here.
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Comprehensive pricing breakdown inclusive of the full scope of services requested
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Terms of fee payment such as upfront vs monthly costs
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Approximate percentage of your annual budget that this service contract would constitute ? (eg: if annual expenses are $100 and proposed contract is $10, then 10% is the answer).
V. Appendix: Roles and Responsibilities of STEP Program Manager
- Cashflow & Accrual Monitoring: Enable the Arbitrum Foundation to easily ensure that the Arbitrum Treasury receives timely payments or accruals. If payments are delayed or incongruent with stated rates, Arbitrum can take appropriate action (e.g. inquiry, divestment, etc). Specific functionality includes:
- Initial capital contribution and redemption tracking
- Track and notify interest accrual or payment amounts for each investment
- Ensure expected interest accrual or payment frequencies match service providers’ documentation
- Underlying Asset Monitoring: Validate that service providers are investing in expected underlying assets and risk exposures. If nonstandard assets are being included in a provider’s portfolio, Arbitrum will be informed and can take appropriate action.
- Report on service providers’ underlying assets and reserves
- Provide portfolio statistics and risk analytics
- Report % of product AUM that pertains to Arbitrum’s investment
- Operations & Counterparty Monitoring: Aggregates nonquantitative information to regularly inform Arbitrum of key structural information and material document changes and administer redemption tests.
- Collate service provider financial and audit reports
- Track underlying service provider changes (e.g. custodian or broker changes, change in 3rd party auditors, change in onchain addresses used for flow of funds)
- Track material changes in provider terms
- Administer Redemption Tests (i.e. “Fire Drills”) to test for provider redemption timeliness.
- Communication with the DAO on the governance forum for questions pertaining to the program
- Any other duties that may arise which are necessary for success