The Aragon Token Sale: The Numbers
Roughly $25 million was collected in 26 minutes. The rate was $122k/s the first 3 blocks.
Yesterday, we closed the 4th largest crowdfunding event in history, and the 2nd largest in the blockchain space (after The DAO). Raising 275,000 ether, or roughly $25 million, we’re incredibly humbled by the support of the community and the trust in our mission to make decentralized autonomous organizations widespread.
In this post, we’d like to reflect on the last 48 hours, provide some data on the sale, and most importantly express our gratitude to the community.
Contributions per block number
Token Sale Data
During the first three blocks, we raised approximately $122,000/second ($7,320,000/minute). As a result, the last significant contribution (>1 ETH) towards the cap was done within 99 blocks.
As detailed in our posts prior to the sale, we employed a hidden cap mechanism to attract smaller buyers and ensure even token distribution. In addition, we hoped the mechanism would result in a longer sale. However, we made the decision to send the transactions revealing our hidden cap prior to the sale’s start due to the large queue of transactions threatening the Ethereum infrastructure. The first and second one (only one was needed) got mined in the second block of the sale. If we hadn’t prepared the transactions before hand and had a script ready to send 3 of them, the amount raised might have surpassed the soft cap.
Despite the sale lasting only minutes, we believe that we managed to achieve an even token distribution. This is evidenced by the fact that there was a total of 2,916 transactions and 2,403 unique buyers.
You can see a more detailed analysis on the sale distribution in this article by Blockchannel’s Corey Petty.
We also collected some relevant tweets about how the token sale stress-tested the Ethereum network:
Thanks to all client developers (specially MEW, Metamask, Mist, imToken & Parity) for building the infrastructure for handling our sale–and doing support to help buyers get in on our behalf, it really does make a difference.
Aragon Network Token
Some statistics about the token:
- Total supply: 39,609,523 ANT*
- Current circulating supply: 33,605,167 ANT
- Circulating supply over time:
*Total supply will be constant only until the AN (Aragon Network) is deployed. From then on, ANG (AN governance) will decide the monetary policy and inflation rate going forward.
Next Steps for Aragon
We are extremely humbled by the trust the community placed in our project. We don’t take that trust lightly, and are now preparing to execute the next steps, detailed in previous posts.
In addition, the capital raised will allow us to on-board brilliant people that can help improve and further the Aragon mission. You can check out our open positions.
We also plan to collaborate with other projects in the space, pushing the entire ecosystem forward. With collaboration, we can all accelerate our mission to make decentralized organizations widespread.
The Aragon Team