Regarding items already discussed:
- I’d be curious to hear from the ARB Ambassador’s on the 1 Million ARB limit to maintain delegate status. At first glance, I think it is fair to say the 50% sale is an arbitrary number so going down to just 674,014 ARB is not unreasonable. At least to maintain some flexibility as the Ambassador program moves forward. However, I also would be curious if they view this as important to the goal. I’m not sure if anyone is delegating to HOP at the moment? I’m not sure what we would necessarily be losing if that status is gone?
- I saw mention of negative market signals. I understand the logic but I’m not entirely sure if the reaction would be that negative. Part of the Arbitrum airdrop was to reward projects for using the ecosystem, and some of the expectation I would imagine is to use that value to continue to build the project within Arbitrum moving forward. I guess what I’m saying here — there is a value balance here at play, at least in my mind. Does that ARB provide more value to Arbitrium’s L2 sitting as a governance token or being used to pay for continued development of the HOP product? A product that in turns brings more users to Arbitrum. I could make the argument that future airdrops and projects might view us using the airdrop to develop the project as a positive. “If we give them this value, they will spend it to grow our ecosystem”. Food for thought.
My add to this discussion: I would agree with those who mentioned that the discussion on Treasury Diversification should probably go deeper than selling one asset. With that in mind, I think the discussion should pivot more towards “what does a diverse treasury look like within HOP?” A guiderail of rules would probably add some stability to the treasury when we think about how this project is funded 1, 5, 10 years into the future. This should also give us the benefit of a more streamlined decision process.
I’d picture a basic set of treasury rules. Something like HOP should always at least be XX% (>50%, at minimum I’d say) of total assets. ETH should be XX%. We should always carry 12 months of planned expenses in stable coins. We should never allow a second asset be >XX% of total value. Rebalancing is done every 3 months. So on…
Edit: I forgot to add, for now I am voting “No Action”. As I would prefer to have the 1 Million ARB item commented on by Ambassadors before a decision is made. With the added caveat that I am 110% for this topic being fleshed out further.