Summary

As TreasureDAO transitions from Arbitrum to ZKsync (as outlined in TIP-44), the governance structure that oversaw the DAO’s activities within Arbitrum, previously known as the Arbitrum Representative Council (ARC), is also set to end on October 30th.

We propose transitioning the ARC to a Treasure Delegate Council (TDC) to provide resources and expertise to assist TreasureDAO with navigating ZKsync governance processes to ensure that Treasure continues to thrive within this new ecosystem.

The community will be asked to vote on one of three paths forward to shape the future of TreasureDAO’s engagement with ZKsync governance.

1. The Treasure Core team selects all 3 members for the TDC.
2. The Treasure Core team selects 1 member of the TDC, while the remaining 2 members are elected by the community.
3. No renewal— dissolve the external governance function entirely.

Actions

• Read the full proposal for TIP-45: Forming the Treasure Delegate Council (TDC) here
• Review and consider nominating someone or yourself for the TDC here

Voting Eligibility

The following holders of MAGIC can vote:

• (A) Stakers in the TreasureDAO Governance Staking contract and Sushi (MAGIC-ETH SLP) on Arbitrum One.
• (B) Holders of all listed Magicswap LP tokens and stakers in Beefy’s mooSushiMAGIC-ETH vault or Balancer’s 50% MAGIC / 50% USDC weighted pool.

gMAGIC will be calculated on a 1:1 basis in (A) and 0.5 ratio in (B) (50% of MAGIC amount)