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Gungun Bhatia
Nov 26, 2022
by Gungun Bhatia

Aragon Project Puts $20M in Ether to Treasury for Safety As FTX Falls

Aragon Ether

Table of contents

  1. Aragon Project Exchanges BTC For ETH
  2. Centralized Cryptocurrency Infrastructure
The Aragon Project boosted its holdings of ether (ETH) in its treasury by more than $20 million in an effort to enhance its exposure to censorship-resistant digital assets.

Aragon Project Exchanges BTC For ETH

According to its weekly report, Aragon exchanged bitcoin for ETH and $20.4 million worth of USDC. At the moment, the Aragon treasury, now valued at $153 million, is made up of around 42% ether tokens. Aragon exchanged more wrapped bitcoin for BTC valued at another $5.2 million. Additionally, $20 million USDC was transferred to the DAI stablecoin as part of the project's treasury equalization.

The Aragon Association, a non-profit, and the Aragon Network DAO are both components of Aragon, an Ethereum-based project that provides users with the tools for building and operating DAOs.

Centralized Cryptocurrency Infrastructure

The FTX crash, which exposed the shortcomings of centralized cryptocurrency infrastructure, required the treasury dynamic allocation to protect the project.

According to Aragon, by decreasing the exposure to assets that may be mismanaged or interfered with by centralized forces, moving more of the treasury to ETH, DAI, and BTC improves the company's security and censorship resistance.

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Digital Assets Ether (ETH) USDC Dai Stablecoin Bitcoin Aragon Project
Aragon Project Puts $20M in Ether to Treasury for Safety As FTX Falls
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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