The second and final part of the ANJ merger will enable ANJ holders to redeem locked-up ANT. The rate will be 0.044 ANT per ANJ, with a 12-month lock.
The contracts that will enable the 0.044 redemption are still being worked on and we expect them to be available soon. As a sign of goodwill towards ANJ holders, we have decided that the start of the lock-up period will be backdated to when the ANJ-ANT bonding curve was paused, October 5th 2020. This change effectively reduces the amount of time that ANJ holders will have to lock up their ANJ to receive ANT at the 0.044 rate.
We are very excited about the next steps for this merger, and having both sets of stakeholders become one towards fulfilling Aragon’s vision.
As the first example of a protocol M&A activity by the Aragon Network, there have been some bumps in the road. The execution of it could likely have been significantly improved through the use of Aragon Agreements that lay out the terms of the deal in more detail, and the respective responsibilities of the various entities involved in its execution. With those learnings and more ecosystem developments, we are very excited by the prospect of Aragon Protocol being used for protocol and network M&A.