First $ARROW Treasury Sale — Project Funding Tranche 1 (2026)

Summary

Authorizes the treasury multisig to sell up to 1,500,000 $ARROW on chain to raise up to $300,000 USDC for already-approved project budgets. This is the first conversion under the AIP-010 project funding bucket and is conditional on AIP-010 ratification.

Mechanics (per AIP-010)

• Amount: up to 1,500,000 $ARROW. Sales stop when $300,000 USDC has been raised, 1,500,000 $ARROW has been sold, or the authorization expires — whichever comes first.
• Venue: on chain, Uniswap V3, Ethereum Mainnet.
• Counterparty: open market.
• Pricing: at the treasury multisig's discretion, executed at prevailing market prices. Monthly reports MUST disclose the cumulative average execution price.
• Execution: the treasury multisig executes at its discretion on timing, sizing, and pacing relative to available liquidity.
• Scope: this bounded authorization constitutes the single conversion contemplated by AIP-010 §5.

Constraints and Reporting

• This authorization expires December 31, 2026. Unused allocation after that date requires a new vote.
• Proceeds MUST fund already-approved USDC-denominated project budgets (AIP-006, AIP-007: Spearhead, Caribou, Quiver, Longshot).
• The multisig MUST publish monthly execution reports: transaction hashes, $ARROW sold, USDC raised, and cumulative average execution price.

Conditionality

This proposal takes effect only if AIP-010 (Tokenomics V1) passes. If AIP-010 fails, this authorization is void regardless of its own vote outcome.