We will be voting FOR the ARB strategy.
While we acknowledge the TMC’s reservations and respect the reasoning behind their recommendation, we find the information provided by @Karpatkey and @Avantgarde to be transparent and compelling (including the backtesting, historical data analysis, proposed execution mechanisms and risk mitigation strategies, etc).
The strategy offers strong downside protection by guaranteeing premium income even if ARB’s price declines further, while the primary tradeoff is a capped upside due to the strike price. Although avoiding conversion at the strike price would be ideal, it’s worth emphasizing that the DAO treasury already holds sufficient ARB reserves to capitalize on potential price appreciation. This ensures the broader treasury retains exposure to upside gains, even if the strategy itself limits immediate participation beyond the strike threshold.