Swap ANT tokens for D2D with Aragon

Governance
1

On October 31st, 2022 Aragon and PrimeDAO agreed on a Deal that included swapping of tokens to enhance future collaboration. Due to the perceived slow developments in the collaboration, one of the Aragon Deal representatives has signaled their desire to return the D2D tokens in exchange for ANT tokens.

This proposal aim to streamline the process around this token swap and solidify PrimeDAO’s offer.

Process: The offer by PrimeDAO will determined by the D2D token holders through a Snapshot vote. The selected offer will be available for up to 4 weeks following the successful vote in PrimeDAO governance. Either Prime Deals or Hedgey Treasury Swap can be used to execute the swap. This decision will be made by DAO representatives.

Terms: PrimeDAO offers the following Deal to Aragon:

  • Swap 22,000 ANT for 887,592 D2D.
  • Swap an amount of ANT equal to $50k value using 7-day backward-looking TWAP for 887,592 D2D.
  • Do not swap any of ANT for D2D at this moment.
  • Abstain
1 Like
2

The proposal has just been submitted on Snapshot and will be open for voting for the next 5 days.

Due to the 32 character limit of Snapshot vote options - the following options where created:

  • Swap 22,000 ANT for 887,592 D2D
  • Swap $50k in ANT for 887,592 D2D
  • Do not swap ANT for D2D
  • Abstain

Consider voting here.

3

Thank you for the structure Luuk.

Ideally we would have wanted to have the proposal split in two questions:

  • Question 1: “Do not swap” vs “Swap”
  • Question 2: If “Swap” then “Swap 22,000 ANT for 887,592 D2D.” vs “Swap an amount of ANT equal to $50k value using 7-day backward-looking TWAP for 887,592 D2D.”
    Considering the vote has passed and there is a clear preference, the above is not a significant concern, and we can move forward with executing.

For the record, Aragon was unable to vote with its current holdings as the Aragon Association has failed to transfer the D2D tokens in time to a wallet controlled by the team.