[SIP - 36] - Selling the Arbitrum Grant

Summary:

The Synapse DAO should sell its existing ARB Holdings (NOT STIP funds), that total around ~$2m, converted into USDC to be later utilized towards growth and funding the Synapse Ecosystem.

Overview: In April 2023, the Synapse DAO was granted 1,030,161 ARB tokens for its past contributions and growth on the Ethereum L2, to incentivize more growth and usage on Arbitrum. Since its deployment, Synapse has settled over $8B on Arbitrum, and touched more than 2 million unique users.

This proposal proposes the idea to convert the DAO’s existing ARB holdings into USDC, so that the DAO can allocate funds to growth initiatives that can grow the project, and its surrounding Ecosystem.

Important Note: This proposal does not affect the 2m ARB granted to the Synapse DAO for the STIP. Those funds are pre-allocated for specific uses outlined in previous governance [https://forum.arbitrum.foundation/t/synapse-protocol-final-stip-round-1/17550] , and cannot/will not be reallocated.