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.
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).