Your colony can receive any ERC-20 token on Arbitrum.
However, if the incoming token is not on your approved list, it will not appear on the Balance page. Only approved tokens are displayed there.
This 'whitelisting' mechanism also hides unapproved tokens (potentially spam) from the Incoming funds section and keeps your finances dashboard nice and tidy.
How to manage approved tokens
Create a new action
Navigate to the left-hand menu bar and click the Create action button. This will open the action creation panel on the right-hand side. Select Manage tokens from the Action Type dropdown menu.
Enter Team details
Complete the details of the Manage tokens action.
Give the action a title to describe the action you're about to take.
For example: "Adding DAI as an approved treasury token."
Enter a Team name for the new team you are creating. The can be anything to label what the team will be used for.
Enter a Team purpose to explain the team's purpose. This can help to easily align the purpose of the team for others.
Select a Team colour. This can help to easily identify the team in the UI.
Select how the action will be taken by selecting a Decision method.
Refer to What are Decision methods for more information.
You can also choose to enter in a Description for the action. Allowing you to provide more context to others why you are taking the action to create a new team.