<aside> 💵 SEP-9 established stablecoin funding for SafeDAO by swapping OP/ARB tokens for stablecoins via the Safe Ecosystem Foundation.

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The swap mechanism

Through SEP-9 (passed December 2023, 98.9% approval, 389 votes, 22.8M SAFE voting power), SafeDAO receives stablecoins from the Safe Ecosystem Foundation in exchange for OP and ARB tokens that the Foundation held on SafeDAO's behalf.

This enables SafeDAO to fund ecosystem initiatives through OBRA using stablecoins — providing funding recipients with stable, predictable compensation rather than volatile token payments.

Why stablecoins?

• Predictability: Contributors receive stable compensation for their work
• Budget clarity: SafeDAO can plan resource allocation with known USD values
• Reduced volatility risk: Treasury value is partially insulated from token price swings

Current status

The stablecoin allocation remains part of the treasury structure. During the resource allocation pause (SEP-54), no new disbursements are being made, but stablecoin reserves remain available for future OBRA funding once the pause is lifted.

Related proposals

SEP-9: Stablecoin Allocation · SEP-10: OBRA Strategies and Budget