Ethereum (ETH)-based DAO platform Aragon has increased its security measures, taking into account the recent FTX events.
The recovery and restructuring process has begun in the crypto industry. FTX events in the past weeks have deeply affected the entire industry. The collapse of a company, which is called the second largest cryptocurrency exchange in the world, lifted the whole industry. After the FTX bankruptcy, many companies began to suffer from bankruptcy and liquidity problems. After the events that gradually lost their effect, crypto projects started to take new measures. One of them, Aragon, began to strengthen his treasury.
DAO Platform Aragon Accelerates Security Studies
DAO platform Aragon, which took action after the FTX events, increased its Ethereum (ETH) assets in its treasury.
Aragon has added $20 million in ETH to its treasury for security purposes amid the turbulent crypto market. The popular project has exchanged $10 million USDC and $10 million Bitcoin (BTC) for ETH. According to the data, 42 percent of Aragon’s $153 million treasury is ETH.
The project, which offers its users the opportunity to create and manage DAO, has been trying to strengthen the security vault recently. “Moving more of our treasury to ETH, DAI and BTC increases our security and censorship resistance by reducing our exposure to assets at risk of mismanagement or central powers intervention,” the platform said in a statement.
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