Arbitrum

In April 2023, the Arbitrum DAO passed a proposal for diversification of 35 million ARB into stable, liquid and yield bearing assets.

https://www.tally.xyz/gov/arbitrum/proposal/38070839538623347085766954167338451189998347523518753197890888828931691912919

The committee appointed to examine applications has come out with its list of recommendations. We commend all 30 service providers that submitted an application under the program. After perusal of each application, the final recommendations are as follows (denominated in $ARB tokens);

Securitize BUIDL - 11 million Ondo USDY - 6 million Superstate USTB - 6 million Mountain USDM - 4 million OpenEden TBill - 4 million Backed Finance bIB01 - 4 million

This vote seeks to approve (or reject) the above list of service providers that ArbitrumDAO should use for diversifying its treasury, under the first iteration of the STEP program. A vote in favor instructs the Arbitrum Foundation and program manager to begin the process of executing these recommendations. A vote against will lead to the committee reconvening and examining the reasons posted by delegates to come up with a revised allocation addressing the concerns.