# ARL Supply, Price-Based Locks and Governance Update — Backable decision market

> Companion to https://permissionless.metadao.fi/decision/7BtNUx8jWoGM4BLWGkBrUqghYrs8soyZe2gaQBtxnUVG
> TWAP figures are evidence, not advice. The platform has no opinion on whether this should pass.

## The question

ARL Supply, Price-Based Locks and Governance Update

## Verdict

- headline: Not live yet
- pass TWAP: Unavailable
- fail TWAP: Unavailable
- threshold: 3.00%
- status: Draft
- window: window unknown

## The proposal (founder voice)

## 1. Final supply and price-based reserve locks

### 1.1 Supply ceiling

The maximum supply of ARL shall be **1,000,000,000 tokens**, including all ARL already issued. If mint authority remains with the DAO, mint only the amount needed to reach this total, receive the new tokens in the DAO treasury and permanently set mint authority to **None**. The minting transaction must enforce the expected starting supply and the final supply.

This replacement is prepared on the assumption that ARL-003 fails without execution. No allocation under ARL-003 is credited or deducted. Its final on-chain failure must be verified before launching this replacement; if that assumption changes, revise the payload instead of issuing or paying twice. Following revocation, burns reduce supply permanently; burned tokens cannot be reissued.

Existing holder balances and existing liquidity positions are not confiscated, transferred or subjected to a new lock by this proposal.

### 1.2 Reserve allocation

After reserving the combined **15,000,000 ARL** described in Section 2 and accounting for implementation fees, allocate the remaining issuance reserve as follows:

| Allocation | Share of the price-lock pool | Recipient and control |
| :--- | ---: | :--- |
| DAO reserve | **60%** | DAO treasury; future spending remains subject to DAO governance |
| Team reserve | **20%** | Designated team multisig, released under the price-lock conditions |
| OTC and liquidity reserve | **20%** | Designated team multisig, separately accounted for and restricted to OTC transactions and liquidity management |

The OTC/liquidity reserve is not an additional team-compensation pool. The team will publish its use and resulting treasury or liquidity positions. No allocation establishes a guaranteed token price, market depth or return.

The team's price-locked 20% allocation is separate from its **5,000,000 ARL without vesting** in Section 2.

### 1.3 Price tiers

Use five ARL/USD target prices: **$0.064, $0.128, $0.256, $0.512 and $1.024**. Each allocation is divided across these tiers using the relative weights **26 : 56 : 118 : 250 : 526**. Each row is an additional tranche, not a cumulative balance. The final target is $1.024, not $1.00.

At the finalized snapshot on **17 October 2026, 07:58 UTC**, total supply was **25,790,675.160936 ARL** and the DAO and team ARL accounts used in this plan each held zero ARL. ARL-003 was still pending and had not executed.

| Planning balance | ARL |
| :--- | ---: |
| Existing total supply | 25,790,675.160936 |
| Additional issuance needed to reach the cap | 974,209,324.839064 |
| Combined NFT, RWT/stRWT and team budget | 15,000,000.000000 |
| Gross reserve before implementation fees | 959,209,324.839064 |
| Implementation fee reserve | 4,800,000.000000 |
| **Net price-lock principal** | **954,409,324.839064** |

Reserve **4,800,000 ARL** from the gross reserve for implementation fees, preserving all 15,000,000 ARL allocated to participants and the team. This leaves **954,409,324.839064 ARL** of net principal for price locks. The reserve is a conservative ceiling based on published rates, not an instruction to pay that amount. A local test of the deployed Streamflow price-lock program charged approximately 0.19% in tokens, below the published 0.5% lock reference. Actual fees for the team sender and each final contract must be checked before funding; a lower fee increases the unused reserve returned to the DAO, not team compensation.

The fee reserve is a spending ceiling, not a payment to the team. Pay only verified implementation fees; unspent fees return to DAO treasury control after the funded programs are reconciled. SOL rent, network and oracle costs must be quoted separately and funded by the team; this proposal does not provide an unspecified SOL withdrawal from the DAO. If fees exceed the reserve, revise the proposal or obtain a lower fee before submission; do not reduce participant principal or exceed the supply cap.

The following net schedule is the team's mandate for subsequent Streamflow funding. These contracts are not created by this proposal's execution transaction. Publish their addresses, final parameters and verified fees when funded.

| Target ARL/USD | DAO — 60% | Team — 20% | OTC / liquidity — 20% | Tranche total |
| :--- | ---: | ---: | ---: | ---: |
| $0.064 | 15,254,903.142919 | 5,084,967.714306 | 5,084,967.714306 | 25,424,838.571531 |
| $0.128 | 32,856,714.461673 | 10,952,238.153891 | 10,952,238.153891 | 54,761,190.769455 |
| $0.256 | 69,233,791.187096 | 23,077,930.395699 | 23,077,930.395699 | 115,389,651.978494 |
| $0.512 | 146,681,760.989610 | 48,893,920.329870 | 48,893,920.329870 | 244,469,601.649350 |
| $1.024 | 308,618,425.122140 | 102,872,808.374047 | 102,872,808.374047 | 514,364,041.870234 |
| **Total** | **572,645,594.903438** | **190,881,864.967813** | **190,881,864.967813** | **954,409,324.839064** |

All quantities in this table are tokens, not millions of tokens. Rounding is limited to ARL's six-decimal precision. The weights from the earlier 976-million-token illustration are preserved, but its absolute amounts are not reused because they would exceed the available supply budget.

### 1.4 Streamflow lock conditions

After receipt of the reserve, the **team multisig creates and funds the Streamflow price-based locks in separate transactions**. The intended arrangement consists of **15 separately identified positions**: five tiers for each of the three allocations. This proposal delegates that implementation to the team; it does not execute Streamflow instructions itself.

Use an identified ARL/USD oracle supported by Streamflow. PASS/FAIL conditional-token prices are not the reference price for these locks. The implementation specification must identify the oracle account, price precision, update mechanism, staleness handling, exact trigger and release behaviour.

Use no discretionary early cancellation, no time-based expiry that bypasses the price target and no floor-price trigger. The tested configuration releases a minimum of 0.000001 ARL per 30-second period per contract below its target; it is not an absolute zero-release lock. The team must publish the final settings, oracle account and update dependencies before funding. The inspected provider-maintained feed and proxy did not reject a three-day-old price in a local test, so freshness and reliable updates must be resolved before relying on the price trigger. Do not describe the proposed arrangement as an independently verified guarantee of market price.

DAO-recipient contracts must name the DAO treasury. Team and OTC contracts must remain separately labelled and accounted for even if their recipient is the same team multisig. Publish all funded contract addresses, amounts, recipients and parameters. Transferring tokens to an ordinary wallet alone does not satisfy the lock requirement.

## 2. A combined 15,000,000 ARL for participants and the team

### 2.1 Budget and team custody

| Purpose | Total program allocation | Release terms |
| :--- | ---: | :--- |
| NFT holder rewards | **5,000,000 ARL** | 24 monthly vesting periods |
| Eligible RWT and stRWT holder rewards, combined | **5,000,000 ARL** | 24 monthly vesting periods |
| Team operations and project development | **5,000,000 ARL** | No vesting; available after the authorized transfer executes |
| **Total** | **15,000,000 ARL** | Within the one-billion-token supply ceiling |

The full **15,000,000 ARL** is funded by this proposal. ARL-003 is assumed to fail without execution; no prior 10-million-token allocation is counted.

All three budgets are held on the team multisig. The **10,000,000 ARL participant reserve** remains earmarked until NFT rules are published after the AMA and eligible RWT/stRWT deposits are reconciled. The team then creates the individual Streamflow vesting contracts. Only the separate 5,000,000 ARL operating allocation is available without vesting. Participant funds cannot be reassigned as team compensation.

### 2.2 NFT holder rewards

Reserve **5,000,000 ARL** for NFT holders. Eligibility and distribution rules will be determined at an **official AMA with the community** and published before allocation and contract funding.

The published rules must identify the eligible collection, ownership snapshot, allocation method, exclusions, claim process and recipient verification. This proposal does not yet assign a fixed ARL entitlement to an individual NFT or wallet. The AMA process cannot increase the 5,000,000 ARL budget, eliminate the 24-month vesting requirement or redirect this pool to team compensation.

Publish the final recipient register, amounts and funded Streamflow contracts. Undistributed funds remain reserved for the program or return to the DAO treasury; they are not a discretionary team allocation.

### 2.3 RWT and stRWT holder rewards

Preserve the previously specified conversion terms:

| Legacy token | Solana mint | Reward |
| :--- | :--- | ---: |
| RWT | `RWTeFt9M635Tf6w6yveAoXQR2ZwfXs7MfA7W3grDuGT` | **200 ARL per RWT** |
| stRWT | `sRWTy1bkqvRegb31RETanhbAtJ7eXN6XsTvaqBRh6kA` | **2,000 ARL per stRWT** |

One stRWT equals ten RWT for this calculation. The two tokens share the same 5,000,000 ARL reward pool. Fractions qualify at the same rate.

Eligible tokens must be sent to `8oDmsqRtXfrAFADfGjiEBPrdsFLWVnH73CTkScBbwkhN` by **30 November 2026, 23:59 UTC**, including that final minute. A qualifying transfer must have an on-chain timestamp before **1 December 2026, 00:00:00 UTC** and become finalized before reconciliation is completed.

All tokens held by `EqxYPE56ufF8iZxsQYnKF8579YPXWGv8adS3FyrK9GRZ`, including its token accounts, are excluded. No fixed liquidity deduction applies. Do not count the RWT backing stRWT a second time. Aggregate eligible deposits by the owner of the source token account, rather than the fee payer, and count each transfer once.

Late transfers and tokens not submitted by the deadline are excluded and treated as unclaimed entitlements. **No later RWT or stRWT conversion into ARL will be offered through this program.** Collected legacy tokens remain out of circulation and must not be redistributed. Participants should use personal wallets they control and follow the official collection announcement after approval.

The conversion pool covers at most 25,000 RWT-equivalents. Reconcile all deposits before funding rewards; a shortfall does not authorize extra minting, an additional allocation or a reduced conversion rate. Unallocated RWT/stRWT reward funds return to the DAO treasury.

### 2.4 Vesting and administration

Both participant pools use Streamflow with **24 monthly periods**, beginning on the actual creation date of each recipient's contract. Preserve the previously specified monthly period of **30.4 days**: 729.6 days in total. One twenty-fourth becomes available at the end of each period, with no upfront unlock; any indivisible remainder belongs to the final installment. Publish exact UTC unlock times and claim instructions. The team's separate 5,000,000 ARL is not subject to this schedule.

For the **RWT/stRWT program**, retain the previously disclosed inactivity rule: after three consecutive monthly periods without a successful positive-amount claim, the administrator may recover the entire remaining allocation, including unvested ARL, for the DAO treasury. Before the first claim, the clock starts at the first unlock; after a claim, it restarts at that claim's on-chain timestamp. Three periods equal 91.2 days. Auto-Claim remains disabled for this program.

Recovery requires an administrator transaction and a fresh check for intervening claims. Contracts must support the previously specified recipient-change and cancellation sequence; cancellation alone must not be assumed to recover all vested but unclaimed tokens. Recovered funds go to the DAO treasury, and the recovery record must be public. Previously withdrawn tokens are not recovered. This inactivity rule is **not automatically extended to NFT holders**; their detailed claim rules are part of the AMA process.

Reward allocations and team operating funds must be accounted for separately. Fees must not reduce the advertised participant awards or silently exceed the approved total supply.

## 3. Decision-market configuration

Given the project's small capitalization and thin market, adjust governance parameters to support team execution of the project's stated objectives while retaining a market-based decision process and providing a longer trading period.

| Parameter | Current setting at the snapshot | Proposed setting |
| :--- | ---: | ---: |
| Aggregate ARL stake required to launch a community proposal | 1,500,000 ARL | **10,000,000 ARL** |
| Decision-market duration | 3 days | **7 days / 604,800 seconds** |
| Team-sponsored passing threshold | -3% / -300 bps | **-10% / -1,000 bps** |
| Community passing threshold | +3% / +300 bps | **+5% / +500 bps** |

The staking requirement is the aggregate launch threshold for a non-team-sponsored proposal, not a minimum balance for each trader and not a fee for submitting a local Draft. The existing team-sponsorship route remains available under the protocol's rules.

The thresholds compare time-weighted market prices, not voting percentages. Under the proposed settings:

- A team-sponsored proposal passes when **PASS TWAP > 0.90 × FAIL TWAP**.
- A community proposal passes when **PASS TWAP > 1.05 × FAIL TWAP**.

The program applies its integer arithmetic and strict comparison. A -10% threshold allows a team-sponsored proposal to pass even when its PASS TWAP is below FAIL TWAP, provided it remains above the threshold. This deliberately makes team-sponsored proposals easier to pass and raises the hurdle for community proposals; it does not guarantee that an approved proposal will increase value.

Seven days refers to the trading duration after launch, not the lifetime of a saved draft. The existing 24-hour TWAP start delay and all other unspecified DAO settings remain unchanged. Preserve the team address, spending limits, liquidity settings, observation parameters, optimistic-governance setting and Squads signing thresholds.

These changes apply only after approval and execution of the configuration instruction. This proposal must itself be decided under the rules effective at its own launch and resolution. It cannot grant itself the new team threshold in advance.

## 4. Implementation and reporting

Use the DAO's authorized execution path for supply and configuration changes. The authority and principal recipients are:

| Role | Solana address |
| :--- | :--- |
| ARL mint | `6JSXRGMH6wNiukuLi4x6rSHazJMQL51WGbzirXxsmeta` |
| Areal Finance DAO | `5BhKSFDV3mNzUxCaAyMZtbakhkbApwzLBD4gnQmNoz3Z` |
| DAO treasury | `E45yD8h2ZsJdHFMPdowKvrC6gS9BgrcansUwHDEDokiF` |
| Team multisig vault | `ApDQBVjwy47EAffSehF8k18orUbJaLSURVEdx95bV8oA` |

### 4.1 Immediate on-chain execution

Following approval, execute the following actions **atomically through the DAO's governance Squads**:

1. Assert the expected starting supply, mint the exact remaining amount to the DAO treasury, revoke mint authority permanently and assert the one-billion-token final supply.
2. Transfer **974,209,324.839064 ARL** from the DAO treasury to the designated team multisig vault. This is the new issuance only; it comprises 15,000,000 ARL for participants and operations, 954,409,324.839064 ARL for price-lock principal and 4,800,000 ARL reserved for implementation fees. Existing unrelated DAO or holder balances are not swept.
3. Update only the four DAO parameters in Section 3.

If any instruction fails, all actions in this transaction revert. Creating a Draft, publishing its text, team sponsorship or market finalization does not itself mint, transfer or lock these tokens. Execution occurs separately after a passing result.

### 4.2 Subsequent team execution and accountability

The team separately creates the 15 price-lock contracts and, once recipient rules and reconciliation are complete, the participant vesting contracts. **Until these contracts are funded, the transferred tokens are controlled by the team multisig and are not locked by Streamflow.** The budgets, proportions and intended uses above are a governance mandate; they are not spending restrictions enforced on the team wallet by this transaction.

The 60% DAO tranche must name the DAO treasury as its final Streamflow recipient. Team and OTC/liquidity tranches must be separately identified. The temporary transfer of the DAO-designated reserve to the team does not change its 60% allocation or authorize its use for team expenses. If suitable price-lock settings or a reliable feed cannot be established, keep the affected funds reserved and seek an amended decision rather than spending them or claiming they are locked.

Publish the supply and mint-authority state, DAO configuration, team receipt, each funded contract, fees paid and remaining program balances. Return unused fee reserves and unallocated reward funds to the DAO treasury when the relevant programs are reconciled. No minting beyond the cap, duplicate reward entitlement or unbudgeted fee allocation is authorized.

## Diligence prompt

Read https://permissionless.metadao.fi/decision/7BtNUx8jWoGM4BLWGkBrUqghYrs8soyZe2gaQBtxnUVG and https://permissionless.metadao.fi/docs/decision-markets. Tell me, in one page:
1. What executes if PASS finalizes (the decoded instruction, not the writeup).
2. Whether the question is bettable — a stranger could take a side.
3. What the current TWAP delta is versus the threshold, and how much time is left.
4. What I lose in each world if I buy pass or fail.