Summary
Aragon and PrimeDAO core contributors propose for voting to their respective tokenholder communities a strategic token swap. PrimeDAO is a collective that enables DAO2DAO coordination by building tools that turn DeFi into a cooperative game. This proposal is initiated as we acknowledge a strategic product and governance fit. The current DAO2DAO tools have valuable functionalities, such as decentralized token offering and token swaps, that align as an extension of Aragon’s future product. With this proposed token swap, both parties are able to converge their products and goals by actively participating in each other’s governance.
Both parties propose a swap of $50k in ANT to $50k in D2D.
Proposal rationale
Prime DAO is a prominent name in the DAO ecosystem and would be a powerful ally in terms of a team with a proven track record of creating DAO tools that are both conceptually sound and provably useful.
Aragon is focusing on building smart contract infrastructure for on-chain permission management systems. Ultimately this infrastructure should be connected/extended by tools that enable DAOs to interact with external agents or assets. Connecting to functional modules and products such as the aforementioned ones developed by Prime DAO, is an essential element of scaling Aragon’s value proposition.
By plugging into Aragon’s ecosystem, PrimeDAO will benefit from Aragon’s wider reach and offer its modules to DAOs that might otherwise be unaware of its value propositions.
This proposal enables a stake in each other’s DAO, and therefore the two projects will have both the incentives and the means (through governance participation) to synchronize product evolution and coordinate better while they decentralize.
About Aragon
Aragon has been building governance and DAO infrastructure since 2017. To date over 1300 on-chain organizations including Lido and many other leading web3 projects have been enabled by Aragon’s tooling. Leveraging product, brand, expertise, and a well-capitalized treasury Aragon aims to solidify its role at the frontier of web3 infrastructure. As Aragon will start its own transition to a DAO at the end of this year the project is looking to actively utilize its treasure by becoming involved in meta governance of projects in its ecosystem
Execution Details
Both parties propose a token swap of $50k in ANT to $50k in D2D.
The amounts of ANT and D2D tokens correspond to the $50k value and will be calculated based on a 7-day backward-looking TWAP (time-weighted average price) taken at the time this vote is published to the respective voting infrastructure of each of the two communities.
The following terms are proposed for the strategic token swap:
- 6 months, soft lock-up period (token lock-up not enforced on-chain but on a social level)
- Due to the soft lock, full voting power will be granted immediately upon closing of the sale
- Terms are symmetric for both parties