Title: Delegate 500,000 ARB to Summoner DAO to grow the Arbitrum Ecosystem Author: Summoner DAO Created: March 23, 2023 Labels: #proposals-active-discussion

Simple Summary / Abstract

The Sperax DAO has been given 1.8 million ARB tokens directly in its airdrop. The token is a governance token to manage the Arbitrum DAO an the community allocation for grants across the ARB ecosystem.

Summoner DAO is a decentralized autonomous organization (DAO) focused on curating investment discussions in the web3 ecosystem. It aims to bring together a community of experienced investors, industry experts, and thought leaders to share insights and analysis on promising investment opportunities in web3 with a focus on the decentralized finance (DeFi) sector.

Motivation

Currently the SperaxDAO will be allocated a specific amount of tokens, and as a core stablecoin protocol, will only be able to allocate so many resources towards voting. Therefore it makes sense for Sperax to delegate a meaningful share of governance share to a third party which will vote in the interests of Sperax.

Overview

As a delegate of Sperax, Summoner DAO agrees to vote in an aligned manner with the DAO, pursue grants that bring greater activity to DeFi on Arbitrum, and encourage treasury diversification to USDs whenever possible as treasury diversification of stable coins is essential to a healthy DAO treasury. The DAO exists in the DeFi space, and has been members of the Sperax community for some time.

Technical Specification

Delegate 500,000 ARB to SummonerDAO.eth immediately, and delegate the remaining ARB tokens held by the treasury no later after 90 days should the DAO find no issue with its current delegation.

Voting

For:

Delegate 500,000 ARB to Summoner DAO

Against:

Don't delegate