First of all, thank you for your proposal. There are currently 10,520 WBTC in the Arbitrum ecosystem, and nearly 40% of it is locked in the GMX Vault. It seems unreasonable for Threshold Network to request such a high grant without having entered into a partnership agreement with GMX. While the grant amount may increase demand for tBTC pools, it primarily benefits Threshold Network. There is also a 15% grant allocated to T, Threshold Network’s token, which again primarily benefits the protocol. Currently, there are 107 tBTC on Arbitrum.
Due to our concerns about the high grant amount and our belief that Threshold Network is not yet ready to use this grant effectively, we vote “Against” this proposal.