Today, the Aragon Association acted on its fiduciary duty to secure its treasury by repurposing the Aragon DAO into a grants program.

This is a response to a coordinated attack by the group known as "Risk Free Value Raiders" who took down Rook DAO. 🧵

bit.ly/aragon-repurpo… Last week, a coordinated 51% attack was launched on the Aragon DAO.

Arca Capital Management, a U.S. based asset management firm, is leading the effort. Evidence suggests that Arca’s involvement is aimed at extracting value from Aragon for financial profit.

1) The first DAO builders were crypto OGs.

Give it a few years - tokens were created, proposals voted, and the space grew.

5 years later, today’s DAO leaders are different. They’re “intermediate builders”.

Here’s what that means: 🧵 2) The first wave of DAOs were focused on building the infrastructure and protocols.

But as DAOs gained validation as innovative coordination mechanisms, a different set of ppl joined the ecosystem.

We are extremely excited to announce a solution that superpowers off-chain voting with on-chain execution ⚡🔗

It builds on Snapshot, which provides off-chain voting, and Aragon Court, which provides optimistic on-chain execution 🗳️

aragon.org/blog/snapshot 1/ Our friends at @BalancerLabs have done an amazing job creating Snapshot. Today communities like Yearn or Aave are using it.

But vote execution was left to multisigs, facing centralization and liability issues. On-chain execution puts the power in the hands of communities ✊

Aragon Network Vote #2 is now over, here's a thread with the results:

https://twitter.com/AragonProject/status/1121444468979314689

AGP-9: The Separation of Church, State, and Network

Yes (41.91%)

No (58.09%)

Status: Rejected