As a long-term holder of ANT, this is the first time I have been compelled to speak up.
Whilst I do appreciate the benevolent intent and sentiment behind the posts, what I am seeing goes against the grain of what Aragon purports to stand for. I write down a lot of it to lack of experience in commercial negotiations and practical governance, however if we have this skills gap, it has to be addressed as soon as possible. “Fight for freedom” or for anything for that matter is impossible without the ability to think adversarially. Pragmatism or good governance is not what - sadly - I am observing this time. For the record, I am agnostic on the issue of DOTs potential purchase - it is the way it has been handled that raised an eyebrow. I care about what Aragon stands for, and this is why voter apathy was not strong enough this time to just walk on by.
Similarly to @seeking, whose posts I was heartened to read, I am very disappointed by what is potentially unravelling here. I have a similar background to @seeking, so my points won’t get lost on him/her. I encourage everybody in the community, but particularly the Founders and Stefano B due positions of influence to pay particularly close attention to @seeking’s analysis - it is professional, balanced, and on point. It may be hard to metabolise for somebody with no experience of financial markets, but all his points are well explained and I’m sure he will oblige if Aragon Association were to seek clarification on any of them.
“I would certainly love for the price to be public, and believe me, we tried. Unfortunately, in the world of fundraising and legal agreements, things are not that easy.”
@luis, with the greatest of respects, things are actually much easier than they seem. May I offer an explanation? What we have here is trivial compared to an average commercial transaction, and ways of dealing with such situations have long been established. Aragon Association and the Founders as de facto fiduciaries of Aragon are absolutely within their rights to request a Most Favoured Nation (MFN) clause from the W3F, and a one-page document confirming such an undertaking MFN can and should be disclosed to the Aragon community, if the intention is indeed to adhere to the high openness and transparency standards that Aragon has set for itself from the outset.
Below is the definition of MFN:
A contractual provision, also known as a most-favored-customer clause, prudent buyer clause, or non-discrimination clause, in which the seller promises the buyer that it will not offer another buyer better terms before offering those terms or better terms to the first buyer. Because of antitrust concerns this practice may be used in an anti-competitive manner, courts will examine these provisions closely using a rule of reason analysis. Courts will determine the enforceability of the MFN provision by balancing the pro-competitive benefits of the provision (such as cost savings for buyers that may be passed on to downstream buyers) against the anti-competitive harms (such as discouraging price cutting and potentially encouraging monopolies).
This is only one of the many tools available to the Aragon Association to be consistent with its goal of being an example of transparent community-oriented governance. This, in fact, is a perfect first use case for testing the robustness of Aragon Court and its principles. Offering to the Aragon community a “take it or leave it” scenario is inconsistent with self-proclaimed values and mission of Aragon, is patronising to the ANT holders and does not offer them any viable choice. More than that, it is factually incorrect to imply that all avenues to uphold transparent governance have been explored.
I am happy to offer practical alternatives, if they are welcome.