Arbitrum: moving treasury ETH to the Developer Guild and ATMC strategies

Entropy Advisors posted a Non-Constitutional proposal on the ArbitrumDAO forum on 8 October 2026 asking the DAO to move ETH out of the treasury: part of it to pay the Arbitrum Developer Guild (ADG) its share of past Timeboost and Priority Gas Auction (PGA) revenue, and the rest into the Arbitrum Treasury Management Committee's (ATMC) portfolio. A Snapshot vote on the thread's original 1,700 ETH figure ran 15 to 22 October 2026 and closed with almost all voting power For. On 26 October 2026, after the vote closed, the forum post itself was edited to ask for 1,800 ETH instead, and that figure went to an onchain vote that runs 29 October to 12 November 2026.

What it changes

• 86.27 ETH goes to the Arbitrum Developer Guild: 82.5 ETH tied to Timeboost revenue and 3.77 ETH tied to PGA revenue, sent to the ADG's address, 0x6A075E9a02eef6978DD66cB63DE430a8c0C419E9
• 1,713.73 ETH (1,333.31 ETH and 380.42 WETH) goes to the ATMC's treasury management (TM) portfolio, to be custodied by the Arbitrum Foundation
• The proposal puts ETH's share of the TM portfolio at about 37%, rising to about 39% if it passes, at an assumed ETH price of $2,700. The extra ETH is meant to let the ATMC restart its covered-call strategy without ETH called away pushing the portfolio below its 30% ETH target
• If the onchain vote passes, the Arbitrum Foundation executes the transfers

The case for it

Entropy frames the transfer as closing out a revenue-sharing commitment the DAO already made and putting idle treasury assets to work. On the ADG payment, the post says the DAO already agreed that "3% of revenue generated by the transaction ordering mechanisms is to be allocated to the Arbitrum Developer Guild," and that this allocation "isn’t automatic," so the ETH has to be moved explicitly. On the TM allocation, it argues that "maintaining a passive ETH position without a corresponding yield strategy is suboptimal, especially when there exists a variety of deployments that would be appropriate to allocate it to."

The 1,700-to-1,800 ETH change is explained in an edit note added to the same forum post on 26 October: the increase was made "to include ETH accrued in the treasury since the offchain vote, and updated the amount owed to the ADG to reflect PGA revenue as of October 26th, 2026."

The objections

cp0x voted against the proposal, splitting its view between the two parts of the ask. It supports the ADG payment but not the portfolio allocation, saying, in its post, written when the TM allocation was 1,614.9 ETH under the 1,700 ETH version, "our vote is against the allocation of 1,614.9 ETH to the TM portfolio, which in its current form does not give delegates enough clarity to support it." The post also argues the proposal does not reconcile the portfolio's current ETH weighting with an earlier, March transfer proposal's projections.

GMX's governance committee voted for the proposal but flagged the concentration of the TM strategy, noting, in its reply, that "in reference to the remaining ETH for the TM allocation, we would have preferred a spread of ETH strategies rather than a primary focus on covered calls." Earlier, Arb_Junior asked whether the ADG payment and the portfolio allocation could be voted on separately. Entropy replied that it saw no need to split the vote but would if delegates supported it in the thread; the vote was not split. L2BEAT's governance team voted For after Entropy said on a governance call that the ETH would be kept as ETH to restart covered calls.

Where it stands

The Snapshot vote on the original 1,700 ETH version of this proposal ran 15 October 2026 to 22 October 2026 on the arbitrumfoundation.eth Snapshot space and closed with about 210.4 million ARB of voting power For, about 257,000 ARB Against and about 1,100 ARB Abstain, out of 1,030 votes cast. On 26 October 2026 the forum post was revised to ask for 1,800 ETH; that figure was not put back to a Snapshot vote. The 1,800 ETH version was submitted onchain to the Treasury Governor on 26 October (transaction), and voting runs 29 October to 12 November 2026. If it passes, the Arbitrum Foundation moves the ADG's share to its address and the rest to the TM portfolio.