Our voting order goes as (#3, abstain, #4, #1, #2). We initially wanted this proposal to be split into two separate proposals that directed the TMC’s allocation for the Stablecoin strategy and Arbitrum strategy. We feel that Gauntlet and Karpatkey in particular are excellent partners, and the projected returns for the used Stablecoin protocols give confidence that outweighs the concerns of depegging that could occur. Our main opposition to the ARB strategy comes with the current market conditions of high volatility that is ongoing, and we believe it is not an appropriate time to implement the presented strategy in the proposal. We do think the ARB strategy has merit and can be successful, so a future vote in a few months or in comparatively stable market conditions would seem reasonable.