# [reWARDS] March ‘23 Budget

We stand by our counter proposal for consideration by the committee for the same reasons we outlined above. The committee will decide what it may and though we disagree strongly with its reasoning we trust its judgement to do the right thing and commit to working with the outcomes.

However, we believe it is extremely important to stop counting in ‘LDO terms’ as soon as possible. We’d like the DAO to stop thinking of ‘LDO in treasury’ or ‘LDO runway’. These are completely illusory and incorrect ways of counting. We see a ‘balance’ reflected in Aragon because of the way the LDO token is programmed, but it does not start to effectively circulate until it leaves.

Even if we wanted to issue rewards in LDO because we believe it later participates in governance (a testable and falsifiable hypothesis) we really really really need to stop thinking in LDO terms.

Instead, we need to start with a USD or ETH amount to put into circulation, and later translate that impact into to a dilution to LDO holders, which is what is really happening.

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