Aragon’s $ANT token rallied as project cofounder licuende called for token buybacks. With activist investors hailing the proposal, there were signs that cooler heads might prevail after a week of crisis at the DAO builder. realDannyNelson reports
to move its $200 million treasury to ANT holders’ control – an important step in its “DAO journey” – out of fear that the RFV Raiders would plunder it. In a blog post, it said it was “repurposing the Aragon DAO as part of a new grants program” that would “secure these funds from those seeking to access them for their own financial gains.”
One member of the activist collective told CoinDesk that between all of them they have enough voting power to win any vote over the team’s objections, including the ability to block grant allocations. That threat underscored the pickle Aragon is in: It cannot afford to completely ignore the RFV Raiders while continuing to rely on its ANT token for any form of governance.
There was no guarantee that Cuende’s proposal would be implemented. He said he is “not involved in the day to day of Aragon” and warned any solution would take time. The Aragon Association did not immediately respond to CoinDesk. “The Aragon Association’s mandate is to spend its treasury on Aragon’s mission. That mandate also applies for transferring the funds to the DAO. So whichever proposal the AA decides to go with, it will need to be reviewed by the legal team. This is usually slow, painful, and requires a lot of back and forth,” Cuende wrote., conspiratorial allegations, open letters and accusations of “decentralization theater,” cooler heads were prevailing.
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