Yesterday, we published our development plan for Aragon Core and the Aragon Network. This post explains in greater detail our structure to store and allocate funds from Aragon Network Token (ANT) sales, features of the next Aragon Core release, and plans to deploy the Aragon Network and its first organizations.
Aragon MTU, the Non-Profit Estonian Organization
Because the Aragon Network is not yet deployed, we created a temporary, non-profit organization in Estonia to conduct the sales of ANT. The organization, called Aragon MTU, will store and allocate capital from those sales to fund Aragon development.
Here's how Aragon MTU will work from the time of the token sale to network deployment:
- All capital from ANT sales will go to a multisig wallet owned by Aragon MTU.
- To protect against market fluctuations, a percentage of the funds will be transitioned to Bitcoin and Euros. Note that the Bitcoin multisig wallet and bank account are both owned by Aragon MTU.
- Aragon MTU and its board members (Luis and myself) will determine how to allocate capital to fund development.
- Once the Aragon Network is deployed and secure, Aragon MTU funds will be transitioned to the Aragon Network at scheduled intervals. This will continue until all Aragon MTU funds are exhausted.
- At this point, Aragon MTU will be essentially obsolete, and the Aragon Network will have sovereignty over all funds.
Essentially, you can think of Aragon MTU as a legal placeholder that exists until the Aragon Network is deployed and takes over its function. For more information about ANT sales, see our previous sales terms post.
Aragon Core v0.4 and Organizations Deployment
The next Aragon Core release (currently in development) will be the first that deploys organizations to the Ethereum mainnet.
This release will refactor the architecture of Aragon Core organizations and allow organizations to hold, exchange, and transact with ERC20 tokens. In addition, Ether will be tokenized so it can be used like any other token in the Aragon ecosystem. We are also incorporating interesting features that the Metropolis release will soon make possible.
Following a bug bounty program to ensure thorough testing, we will deploy the first mainnet beta organizations by the end of the year. Priority to become a beta organization will be given to organizations with the greatest ANT holdings.
Aragon Network Deployment
Once enough organizations are successfully operating in the mainnet to test the core of our DAO Framework (note that the Aragon Network will reuse a big part of Aragon Core), we will recommend deploying the Aragon Network. This will require approval from the community multisig. We roughly estimate the Aragon Network will be deployed in May of 2018.
Once deployed, existing Aragon Core organizations will be invited to join the Aragon Network and benefit from upgradeability and decentralized arbitration. In addition, these holders and organizations will kick start the Aragon Network by creating the first Network proposals.
A slow roll-out of beta organizations will continue until the first publicly available version (v1.0) is deployed. This is scheduled for early 2019.
We cannot wait to get there! For a more detailed document, check out our development plan!
Subscribe to Aragon Project Blog
Get the latest posts delivered right to your inbox