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TechFlow reports that 1inch has proposed converting all $ARB tokens on Arbitrum One (2,575,405 $ARB tokens were airdropped to the 1inch DAO treasury in April 2023) into USDC, then bridging these USDC funds to the 1inch DAO treasury on the Ethereum mainnet.
The primary purpose of this proposal is to maximize value and reduce exposure to volatility risk by exchanging $ARB tokens for USDC, a stablecoin pegged to the U.S. dollar.
1inch has proposed exchanging all $ARB tokens on Arbitrum One (2,575,405 $ARB tokens were airdropped to the 1inch DAO treasury in April 2023) for USDC, and then bridging these USDC funds to the 1inch DAO treasury on the Ethereum mainnet. The primary purpose of this proposal is to maximize value and reduce exposure to volatile assets by converting $ARB tokens into the USD-pegged stablecoin USDC.
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