Steakhouse is pleased to share the November update for Arbitrum’s Stable Treasury Endowment Program. Like last month, we have included the month-end PDF statement and a Dune dashboard with live data and portfolio analytics. We will continue to add performance data to the PDF statements once enough time has passed to produce useful insights.
Please let us know if there’s anything else you’d like to see in these reports or the dashboards, and we’ll do our best to include in the future!
Notes on the portfolio:
- The allocation to OpenEden’s TBILL was fully deployed on December 11th.
- STEP’s USDY (Ondo) purchase was minted on December 4th after the end of the 45 day restriction period post-investment. This is now visible in the Dune dashboard.
- According to Mountain’s latest attestation report, USDM is now roughly 42% backed by Superstate’s USTB and 13% by Securitize/Blackrock’s BUIDL. These products have already been approved by the selection committee and are held within STEP, and we do not believe this change represents a material increase in risk to the DAO.
Recent Product Updates
Superstate
Superstate recently launched a new mint and redeem feature, allowing users to instantly mint and redeem USTB using USDC.
Mountain
As noted above, USDM is now roughly 42% backed by Superstate’s USTB and 13% by Securitize/Blackrock’s BUIDL. These products have already been approved by the selection committee and are held within STEP, and we do not believe this change represents a material increase in risk to the DAO.
