A recap of what has been going on with Aragon during Q4 2018.
As per our Transparency Model, we do quarterly Transparency Reports of our use of funds and about the overall progress of the project.
This is our main transparency tool. It shows our use of funds with human readable descriptions attached to each transaction.
These include expenses such as salaries, travel expenses and annual bonuses.
1,438.34 ETH, 94,191.87 ANT, 69,858.60 DAI & €60,162.95, equivalent of €315,520.63.
Salaries total: €268,434.53
Expense Reimbursements total: €45,095.10
Total of 824.29 ETH, equivalent of ~€330,303.18.
These include business expenses, payments to accountants, lawyers and code auditors. Included are things like new laptops, office equipment, etc., to team members. These are essential for us to work effectively since we're fully distributed teams.
Other miscellaneous expenses: ~€42,184.81.
Total of 281.49 ETH, equivalent of ~€44,761.51.
Watch the The Future Of Governmental Organizations presentation by Luis Cuende
AraCon – The first Aragon Conference - took place in Berlin, Germany on January 29th-30th 2019.
For the preparations regarding AraCon during Q4 2018, a total of €63,091.08 was spent.
The Aragon Nest grants program has been tremendously successful and over 10 teams have already been granted funding.
Find out more in the Nest GitHub repository.
Total of 965.08 ETH & 76,237.62 DAI, equivalent of ~€259,653.22 was paid out to Nest teams.
The Nest program has been up and running for 7 months. It's mature enough to make a high level analysis of the program so far
This post shows a breakdown of the numbers, who & what gets funded, structure of the program and a glimpse into the future!https://t.co/R9V6bDOASK
— Aragon (@AragonProject) October 12, 2018
In total the project spent ~€1,055,484.43 or equivalent in cryptocurrency in Q4 2018.
Due to market volatility the Aragon Association took extraordinary measures in Q4 2018 to ensure the sustainability of the project, including hedging cryptocurrency holdings into more stable currencies. The full disclosure for this hedging action was published from the Aragon Twitter account:
In the last 24 hours, the AA has sold its XMR position (worth $500k), and a small part of its ETH position (worth $1m).
The AA also just took a 1m DAI loan, collateralizing the CDP with 40k ETH (415.9% collateralization ratio).
We are long ETH.
— Aragon (@AragonProject) November 27, 2018
You can find more details about the development progress in our Aragon Q4 Development Update blog post.
— Aragon (@AragonProject) January 10, 2019
Thanks to Alexa Weaver for helping with this post.