Merge ANJ with ANT: 0.0175 ANT/ANJ (no lock)

Summary

If approved by ANT holders, this proposal will result in an offer to ANJ holders to perform a one-way conversion of ANJ to ANT at a rate of 0.0175 ANT per 1 ANJ with no lock requirement.

Motivation

The recent discussions have demonstrated the strength of the $ANJ community and its conviction in the Aragon Court thesis. While $ANT holders ultimately have governance power over the Court, we think it’s important to at least understand $ANJ holders’ views and use these to inform $ANT voting. From our perspective, the worst case outcome for both sides is a contentious $ANJ “fork” in which the community is split and Aragon Protocol now has a competitor with the same name (Aragon Court Classic?). Avoiding this outcome is crucial and, our research indicates, easily achievable.

We think $ANJ jurors who remain committed to the Court vision post merger are more valuable and are worth paying a higher premium to provide they convincingly signal this commitment. Projects such as Synthetix have exemplified the positive effects that locking up users can have on a community and on bootstrapping a supply-side and we feel there are lessons to be learned here. $ANJ holders who want to exit the system should still be allowed to do so and compensated for the upside they’re giving up, but this should entail a much lower premium.

Specification

• New ANT will be minted to offer a conversion price of 0.0175 ANT/ANJ to $ANJ tokenholders who take the one-way conversion offer and DO NOT lock and activate the ANT they receive.

Discussion

https://forum.aragon.org/t/proposal-next-steps-for-anj-holders/2478