The flash crash yesterday should be a wake-up call for every project that's never lived through a bear market Why? Because when token value turns to vapour, available funding dries up fast. Just look at the @arbitrum DAO treasury balance • 85.5% of the treasury is denominated in $ARB tokens • In the last 30 days, ARB tokens have lost $24m in value • At 90 days, that loss in value increases to $96.4m When treasury values drop, so does the ability to fund programs, grants and incentives. That's why initiatives like Arbitrum's Treasury Management led by @EntropyAdvisors and others matter so much. They create alternative revenue streams beyond token price and network activity, which both suffer when markets pull back And this isn't an issue unique to Arbitrum. Even the @ethereumfndn faces similar challenges; selling $ETH consistently while leaving DeFi opportunities untapped. From what i've heard, they're starting to take steps to change that Times are still good now, and teams should use this window to grow and diversify their treasuries because imho, the next bear won't be so kind