We will vote to support only the stable strategy as recommended by TMC. The stablecoin proposals are solid, and splitting funds equally among Karpatkey, Avantgarde & Myso, and Gauntlet ensures diversified risk and balanced exposure. We believe it’s reasonable to pay management fees to Karpatkey and Avantgarde, given their expertise in actively managing liquidity on platforms like Uniswap v3 and Camelot v3. Our calculations indicate that the net yield from this strategy would be roughly 7.8% to 13.4% on the $15M allocation,translating to a net profit between about $1.16M and $2M. However, given that ARB was originally around $1 and is now roughly $0.38, converting 15M ARB at these levels could cause significant selling pressure and panic among holders. For example, if ARB were to recover to $0.50, the increased asset value could potentially yield an extra $5M, far exceeding the modest yield from the stable strategy. This upside opportunity suggests that holding ARB until market conditions improve might be far more beneficial than selling now.