Category Archives: tge

Aragon Token Sale/ICO raises $25M in 15 minutes -what you need to know..

Aragon Token Sale/ICO raises $25M in 15 minutes -what you need to know..

“A day may come when the courage of men fails and all token sales are ended — but not this day!”

No, not that Aragorn! This is about Aragon with one R.

Think of the autonomous community region of North-eastern Spain. It is also the name of a revolutionary platform built on the Ethereum blockchain which allows the secure, efficient creation & administration of decentralised organisations.

The Aragon ICO completed May 17th and hit their cap (selling out) in less than 15 minutes. The actual sell out was probably faster but the block mining could not keep pace with demand for processing the many pre-configured transactions.

Summary —

  • They raised $25 million (which is incidentally twice the amount raised initially at the launch of Ethereum)
  • The team made extraordinary efforts to allow maximum participation in the token sale through a hidden cap strategy (to prevent larger investors grabbing the whole lot quickly).
  • They offered detailed ‘how-to’ training guides and instruction on participating safely in the ICO/TGE
  • Many audits and reviews were provided before the launch as well as a Product Roadmap and their intended use of funds raised
  • Many users struggled with MetaMask (browser bridge to DApps) and other wallets for many meaning their transactions did not go through even though submitted before the cap was hit. This was traffic load related and was perhaps unavoidable.
  • The website stayed up and stayed steady (with the same send-to address !), however scammers were quick to launch on Twitter who I guess should be on guard for this in future launches and be quicker to react.
  • The token is already trading on Bittrex and Liqui and coinmarketcap.com showing the tokens as worth US$39M already — which is not bad from US$25M in two days!
  • So Ferraris all round, everyone? Not exactly. The founders were very clear on the ‘vesting’ of their tokens which is a long way off (2 years) and they are very committed to the long term development of the project.

The great thing about the ICO launches is that on the blockchain, despite what you might think — everything is visible! Well, ‘psuedonymous’.

So the stats of the sale and token movements are available (forever!) on etherscan.io or ethplorer.io by putting in the Aragon Token Sale address (0x960b236a07cf122663c4303350609a66a7b288c0) shortly after the sale ended. Looking at the stats reveals the following (not final);

1 address purchased $7.5M/30%

10 addresses purchased $14M/55%

25 addresses purchased $16M/64%

2266 addresses got the rest

This comes with a caveat as ‘psuedo-science’ since one address does not equate to one investor. However, the fact that over 2000 addresses were able to get in to the sale indicates that this was (probably) more evenly distributed that other sales have been. For a more technical analysis see Corey Petty’s analysis.

Conclusion

The sale was well planned and executed (would you expect less of a platform offering company governance & administration services?) resulting in a relatively wide distribution of ownership and investor participation.

So, the days of Token Sales are still here and demand remains strong for innovation. The use of super-fast, non-dilutive, lightweight, country & currency neutral, micro-capable fund raising (ICO/TGE) is still on the rise.

“I shall look for you on the battlefield” — See you at the next ICO/TGE. Here is a list of what is coming next.