Very interesting thread and great comments on this proposal. I think the easiest way to handle this would be for the AA to use its discretionary powers (and the treasury management responsibility explicitly given to them in AGP-11, as you point out) to make this allocation outside of the AGP process. If the AA would like to receive the approval of ANT holders before making this allocation, then it could pass either an Association or Proclamation track AGP (I think either could work, depending how it’s worded) stating the proposal and a detailed plan about what they will do with the ANJ and then ANT holders can vote to approve the proposal or not.
If the Association/Proclamation AGP is approved, then it would have no impact on the budget until the exchange is actually made – long after other approved Finance track AGPs in this vote are processed, since the curve doesn’t even go live until 2020. (Edit: Unless we count the ANT allocated in this proposal as a liability - in which case it would deduct exactly that much from the treasury balance at the moment the proposal is approved, but have no effect on the budget otherwise.) Whenever the next Finance proposal is approved in a future ANV and we have to calculate the budget again then we’ll have to figure out how to give a fair market value to the ANJ held by the Association. This (valuing ANJ) is an interesting topic but probably outside the scope of this thread, since as mentioned I don’t think there are any practical implications for this AGP or this upcoming vote/ budget period.
Edit: I started a separate thread to discuss the general topic of how to handle Finance AGPs that re-allocate or re-balance the treasury, using this proposal as an example were it to actually be presented as a Finance AGP. Happy to further discuss this more general topic on that thread, and reserve this thread for discussing this specific AGP.
