Deceitfully narrow timeframe for ANJ 0.044 conversion

One year ago ANJ holders were promised a 0.044 conversion rate vested until October, but then out of the sudden you announce a surprise restricted time frame to do the conversion, which takes place in late August, with no proper advance notice. Aggravated by high gas prices at the time that left many people out of the conversion waiting for stuck transactions.
This is unjust and deceitful for ANJ token holders that were waiting until October for the conversion and are now left back with a 0.015 rate.
What is the reason to restrict the time frame of the conversion in such a surprise move?

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i think the timeframe to stake your ANJ and convert it was 3 month or so. For me it was totally fine, but also i am a bit addicted to this project haha. For people who are not that active this is for sure short. I guess the idea behind ANJ is that you only buy it if you are an active Juror. its not intended as an investment, but you can do that on your own risk. I think the idea behind this timeframe was also to encourage active users and not long term investors who only check every few month or so. I think Aragon Court is all about active users and they want to encourage those. Also as i understand the Aragon Association is not bound to voting cause its not a DAO, so they can decide stuff without the consent of the token holders, but i guess even with voting you would have missed it haha.

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The timeframe was only 1 month.
I’m also addicted to this project since its inception and I was checking news about the merge every few days, but we all have a life and we can’t be F5’ng the blog every day to catch up with the news.
In all the months prior it was never stated that the merge would have such a short end date (or even if it would have an end date at all), so I wouldn’t have missed the deadline if there were proper communication.

Let’s do a quick recap of the facts:

  • Oct 2020: Bonding curve is frozen and a proposal is created for the merge.

  • Nov 2020: Votes pass for 0.015 (immediate) and 0.044 (1 year lock)

  • Dec 2020: Still waiting for both merges that were supposed to launch simultaneously.

  • Jan 2021: Mass resignations, drama ensues. With no manpower to develop both mergers 0.044 is postponed and all efforts are put onto 0.015.

  • Feb 2021: 0.015 ANT/ANJ merger is launched. In order to compensate for the delay it was promised that the 1-year lock for 0.044 will have the date set to the moment the bonding curve was paused (October 5th)

  • Mar 2021: Nobody is working on the 0.044 contract, efforts are geared towards Aragon Govern.

  • Apr 2021: 6 months have passed since the bonding curve freeze.

  • May 2021: Still no news about 0.044.

  • Jun 2021: Conversion contract is ready, now waiting for signers

  • Jul 2021: Still waiting for signers.

  • Aug 2021: 0.044 ANT/ANJ merge is launched. It was announced (SURPRISE) that the end date for claiming is September 5th (one month)

  • Sep 2021: Claim period is over

  • Oct 2021: Claims unlocked

Do you still think this was fair to the ANJ holders? This whole merge was poorly managed and the most loyal supporters were betrayed.

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I dont know what the motive was for the decision i can only guess cause i didn’t made the decision. What do you think was the motive of this decision? Do you think the aragon association want to make anj holders angry. Its a balance between anj and ant holders. I think the ant holders voted on the timeline can’t remember

Please verify before posting so you don’t spread misinformation.

First you say:

Which is false, the timeframe was 1 month.

And now you came up with:

You can’t remember because this never happened. ANJ holders never decided over the timeframe.

This is the whole point: We as token holders don’t make decisions and were not even informed of this decision in due time. We were not informed of the merge end date until after it was live.
This actions are not aligned with Aragon’s manifesto.
We also didn’t made the decision nor were consulted when the foundation moved it’s funds to a CEX for “portfolio diversification” purposes.
Take a look at this blog post from 2018:

The foundation was meant to be a temporary placeholder to be dissolved upon the birth of the DAO, but they changed course and instead they made it bigger and laid deep and bureaucratic legal roots as a legacy institution.
This is the kind of LACK OF TRANSPARENCY that prompted @jorge’s and the whole A1 team resignations.
It’s sad to see the progressive deterioration of such a great project.

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I agree the communication is not good and often decisions are made without consensus of token holders.

So @jorge is not involved in Aragon anymore because on the aragon association page he ist still listed as a member

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He allegedly remains as an advisor on the Association but Aragon One (the main working force developing all the products) was dissolved as everyone working there resigned too.
This was his resign letter:

Source: Jorge Izquierdo (@izqui9): "Today I resigned as Aragon One's CEO. Leading this team has been the privilege and adventure of a lifetime and I am immensely proud of what we achieved. I feel quite sad that it's come to this, but given circumstances following, I don't think I can keep doing a good job." | nitter

See also:

Aragon is not what it once was.

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I’m sorry to hear your valid frustration, your concerns are very well expressed. I have raised concerns around communication in the past week too. Please know that the AN DAO community are 100% trying to achieve this goal of decentralisation and we need more voices in the community to achieve this. I would value your support in the process of decentralisation, we are still at such a very early stage. From a totally personal perspective I would reiterate @jorges words above - …Your petition for more transparency and voice over Association decisions has not fallen on deaf ears and I [renee] will continue pushing for it…" I know many others such as @AlexClay are committed to this too. I know this sentiment does not solve any issue around the ANT/ANJ merger and AN DAO will never be, nor is intended to be what Aragon once was, but I totally believe together we can be better, as of now and in the future.

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Thanks for this @lee0007. Apologies for the late reply to this thread kemiki as I was away. I believe we were attempting to make sure that users did not have their tokens locked for 12 months and that the conversion occurred 12 months after the bonding curve was stopped. I am working hard on resolving a number of your points and also making sure the AN DAO is a success along with the transparency reports next one in Jan for H2 2021: Aragon Association. Please reach out to me if you would like.

Thanks,

Alex

Discord - Alex Clay#5891
Email - Alex@aragon.org

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Thanks for the kind words.
Just to be clear: Are we still pursuing the Minimum Viable Foundation? i.e. not managing treasury; only a thin shell of the DAO.
Because AA’s actions lately were all in the opposite direction.
The community did not have a voice (ironically) in the Vocdoni acquisition, nor in all the new hires (mostly focused on institutional PR and image polishing roles).
It is ironically incoherent for a DAO framework project that brags about the TVL managed by its tools to hold its own funds in a legacy institution.
I hear preaches of decentralization every day but not actions.
I do not agree that we are in a very early stage in this process, you make it seem like there is a long road ahead that leads to decentralization, but we have already traveled that road, 5 year have passed since the first MVP, we now have a full Aragon suite of DAO tools so why we don’t start dogfooding our own product?
Of course there are more challenges ahead about governance mechanisms but we already are in a stage where there is no reason for the foundation to exist anymore, let alone managing funds.
A big milestone of decentralization can be achieved today: Just send all the AA funds to the AN DAO already, it only takes 10 minutes.

Another blast from the past:

Hey @kemiki,

The DAO is not intended to be minimally Viable and the first Sablier steams have been set up to begin the transfer of Funds. We have guilds being set up in the DAO now such as the tech support guild and education Guild which will request funds directly from the DAO. We also have source cred as the first community distribution tool with bounties and other tools on the way, although this is for the DAO to decide. Plan is to have all funds managed by the DAO at the end of the process.

Hope this helps,

Thanks,

Alex