Update from Aragon Association (AA)

This update aims to address many questions that have been raised in the forum and provide a consolidated update from the Aragon Association (AA). I apologize for any confusion resulting from our high-level communications regarding the Aragon DAO and acknowledge that we should have provided further details and updates sooner. Doing so would have helped clear up many of the questions raised in the past weeks and ensured that all stakeholders had the necessary context.

Forum Posts

Please refer to the linked forum posts below, which elaborate on the following topics:

Treasury Transfer - Phases

In January 2023, the General Assembly of the Aragon Association approved a plan to transfer the treasury to the Aragon DAO in a series of phases. Each phase outlines security criteria that must be met before proceeding with further transfers of the treasury. In this post, we provide a more detailed breakdown of the phases and the current status of the transition.

Aragon DAO Documentation

We have revised and updated a comprehensive post that provides an overview of the technical and legal structure of the Aragon DAO. It includes step-by-step instructions on the governance process and how to participate. This post will be pinned at the top of the Forum and linked in the Aragon DAO interface for ease of reference.

Treasury Consolidation

The AA has recently made decisions to consolidate its treasury funds. These transactions are ongoing and can be tracked onchain. The AA is committed to safely and transparently continue transferring funds, and we will provide updates accordingly.

Next Steps

As explained in the Transfer Phases post, the AA is currently evaluating the options and next steps in constantly evolving regulatory and market conditions before continuing with treasury transfers. The feasibility of those options is being considered, and we expect to have clarity by next month.

All token holders are welcome to continue participating in the governance process of the Aragon DAO, in accordance with the current active structure and onchain rules.

Hi everyone!

This is a short update regarding AA. It’s been a while since the last one, but “absence of evidence != evidence of absence”. It’s been busy weeks:

  • The AA is finalizing its due diligence regarding next steps for Aragon Project, after collecting feedback from several stakeholders, and should resolve upon a path forward during this month. We hope it can be shared soon so it can be publicly discussed.
  • The AA approved the Annual Accounts for 2022 last month. An update covering 2022 and H1 2023 will be released this month / beginning September.
  • Most of the treasury consolidation transactions have been executed. Only ones pending BAL ($80k) and the securities held at Syz bank ($2.6m).
  • 38,904.24 ETH have been staked with Lido. Further ETH shall be staked soon, pending resolution.

I am aware there have been requests for further clarity, unfortunately I can not provide more details until all dependencies have been cleared out.

Cheers,

Joan

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Thanks for the update!

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Thank you for the update Joan. As the month is now behind us, can you share with us who the stakeholders are and what is the path forward? How does discussing these conditions behind close doors fit with the treasury ending up becoming DAO-governed?

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That is a very long month of August.

… so its now MONTHS - what is going on behind the scenes to cause this delay?

Hi there!

We ran into minor delays, but everything is on track. Expecting to share an update very soon.

Thanks for your patience :pray:

On track for what exactly Joan? Since you decided to take this matter into your own hands without consulting with the DAO token holders, you have been describing progress which is your sole definition and not any objective defined by anyone else.

How can you make decisions in the best interest of DAO members at the current stage? I am not sure you are fit to do so. For this very reason, it would be appreciated if there is an open discussion rather than what seems to be backroom deals and discussions without engaging with the largest exposed members of this DAO.

So its going on month 3-4 now of having 0 idea what is even in the works? Instead of the AA acting like its a separate entity - why not actually act as a DAO and make available your idea of plans.

Treasury was voted to be in the DAO hands almost a year ago.

AA has been holding token holders / DAO members / DAO contributors hostage.

All while the AA has given 0 clarity on absolutely anything or has blatantly lied in relation to:

  • due dates
  • plans for treasury
  • actions within the treasury

and so on.

We would appreciate you as a steward of the DAO to act in a transparent and good faith manner.

We would also appreciate you spending less time in other discords (lybra)

And more time in the one you work for and have been late and lied for MONTHS on timelines.

You also have lied to me in personal messages about not being “on the AA anymore”?

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I think its time to act in everyone’s best interests and not your own personal agenda… something that you denounce in other discords but do the opposite for the one you work for? Its quite confusing to say the very least.

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Hi everyone,

I am aware that several months have passed and that the update is later than expected. We will be sharing more information this week. Thank you for your patience.

I cant tell if this is a joke to you or not? You have been claiming “update soon” for months without a single update, a single hint to what the update is, and zero discussion to the update.

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I hope this is true amigo. I hope there will be more transparency and working within the DAO framework. I have already been talking with my team about possible action but will wait and see if you are being honest with us now.

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