We have currently: $12.2M ETH - Reserves $4.5M ETH - Sushiswap LP ($17M ETH - Stability Pool from Liquidations)
We will need: $18M ETH - Balancer LP (33%) $2M ETH - Arbitrum LP
We will need a minimum of $4M ETH from liquidations to pursue our liquidity objectives. Note that only keeping this amount would leave the Treasury without any ETH on hand (all ETH would be in LP)
To mitigate this, we could also keep an additional $5M ETH, which would be sitting idle in the Treasury.