Aragon Q1 Transparency Report

Aragon Q1 Transparency Report

A recap of what has been going on with Aragon during Q1 2018

As per our Transparency Model, we do quarterly Transparency Reports of our use of funds and about the overall progress of the project.

Transparency Framework

This is our main transparency tool which shows our use of funds with human readable descriptions attached to each transaction.

All USD equivalents have been calculated by the price of ETH/ANT at the time of conversion.

Salaries and expenses in Q1:

These include expenses such as salaries, travel expenses and annual bonuses.

~234 ETH, equivalent of ~$210,435

~17,151 ANT, equivalent of ~$65,892

Payments to service providers in Q1:

~107 ETH, equivalent of ~$91,281

~13,037 ANT, equivalent of ~$50,112

These include business expenses, payments to accountants and lawyers. Included are also things like work equipment to team members, new laptops, office equipment, etc., which are essential for us to work effectively since we're a fully distributed team, each working from a different location.

Sponsoring and event tickets in Q1:

~270 ETH, equivalent of ~$173,156

We were proud sponsors and supporters of some awesome events in the Ethereum and crypto space. These events included ones such as ETHDenver, EthCC, Blockchain Summit Crypto Valley, EDCON and the upcoming ETHBuenosAires.


Bounties in Q1:

We allocated this sum for Aragon bounties in Q1, necessarily not all of these have been claimed or paid out yet, and some may still be active from before.

750 ANT, equivalent of ~$2,873

You can find our active bounties for example at &

Code audit

A security audit on our smart contracts was conducted, results of this will be published soon and a second audit is currently underway.

~149 ETH, equivalent of ~$129,730

12,425 ANT, equivalent of ~$47,578

Hedging to other cryptos in Q1:

We divested some of the Ether we are holding in the multisig into other crypto assets during this time period.

7500 ETH, equivalent of ~$4,074,600

First round of Aragon Nest grants in Q1:

Five teams already funded and building is underway

~357 ETH, equivalent of ~$221,631

Aragon Nest: First awarded grants
Five teams already funded and building is

Responsible security vulnerability disclosure:

We received a responsible security vulnerability disclosure from a person and following the OWASP risk assessment methodology with figures we presented already in our token sale bug bounty post, we paid this person a bug bounty.


This bug affected a piece in our infrastructure and was fixed immediately after the disclosure. We assessed the impact and likelihood of this given bug both to be at a Medium level.

250 ANT, price of ANT at $3.984 totaling $996 was paid out.

We appreciate any future responsible security vulnerability disclosures to be reported to


We have a repository in our Github for Aragon Governance Proposals where team members and community members can start new governance proposals for the project. This quarter there were two new AGP's started by community member andriytyurnikov, thanks for contributing!


AGP10: Reserve Strategy


Defined in our Community Governance Model, we hold regular public meetings that are livestreamed and available afterwards as recordings in our YouTube channel.

We had monthly Aragon HQ Meetings, but wanted to reduce the amount of time spent in meetings. So they are now integrated into the Aragon Community Meetings as per AGP7: Merge Aragon HQ and Community meetings.

Aragon Community Meeting #07

Streamed live on Jan 5, 2018

Aragon Community Meeting #08

Streamed live on Feb 13, 2018

Aragon Community Meeting #09

Streamed live on Mar 2, 2018


You can find more details about the development progress in our Aragon Q4 Development Update blog post.

Aragon Q1 Development Update
Progress of development from the first quarter of 2018

New video

We launched our video, Aragon — The fight for freedom

New Team members

In Q1 of 2018, 3 new members joined the team!

Team Interviews: Bingen, Aragon's Solidity Engineer
Bingen is a developer and an open source advocate joining Aragon to make the world a better place

Team Interviews: Jouni, Aragon's Design Lead
Jouni is an experienced designer who's looking to change the future of society and work

Team Interviews: Chris, Aragon's Product Manager
Chris is joining the team to enhance the product development process even further

Aragon One


We started the Decentralizing Aragon's Development series (Read Part I, Part II and Part III) and introduced the first company contributing to Aragon's development, Aragon One.

Introducing Aragon One
The first company contributing to Aragon's development

Token Buybacks

We began buying our tokens back a couple weeks after the token sale had closed. The Aragon Foundation has kept occasionally buying more tokens since then.

ANT is a great tool for us to incentivize contributors. Having a wide, varied community of contributors from different backgrounds is important.

More details and reasoning behind the decision to do these can be found in our Token Buyback Transparency Report.

2500 ETH, equivalent of ~$1,393,925

Ethereum Transaction 0x41b8770aec719b9ba8a78025ab7ea4ff352a9b3db08b9f72324b9298396d79ef

61.34 ETH, equivalent of ~$72,074

Ethereum Transaction 0xeabcb01507bec59eaac2fee9966329e12a1cdc196d5c45bb8b26607da1361430

700 ETH, equivalent of ~$790,300

Ethereum Transaction 0x9f73f08b52921dfe856c5e4216a2f9b529b5115bcf3d32bb5dcb8aa7b182650c

We also did a one time purchase of ANT from a single entity at the current market price at that time.

12070.2847022 ANT was purchased for the price of 0.00508179 ETH/ANT for a total of 61.338652097 ETH.

Ethereum Transaction 0xb1e4024efec924c12c62d96190280cd2c19b3b42366c5da264178b60302a40fb