Aragon Association to Dissolve and Disburse $155M in Assets to Token Holders

Aragon Association dissolves, releasing $155M in Ether to token holders and reshaping its future governance and development strategy.
UwAAAABJRU5ErkJggg==

Aragon Association made the decision to disband in order to manage the aragonOS DAO framework. As a result, the distribution of assets to token holders was declared.

As much as $155 million, or 86,343 Ether, will be awarded to each holder. A smart contract running on the Ethereum network will be used to efficiently support this distribution.

$11 million will be given to the Aragon Shield Foundation by the Aragon Association as part of their strategy. With this action, we hope to protect against future changes and secure financing for committed projects.

In order to further improve its range of products, the Aragon team also plans to become a firm. Additionally, they intend to create a Product Council to direct the development of new products.

Aragon Takes Milestone Decision

Pressure from the market has presented Aragon with difficulties. They have admitted to problems like stakeholder conflicts and complexity. A governance restructuring attempt was also made, which put more burden on the association.

It was not feasible for the association to carry on with operations in light of these reasons. They have decided to give investors their money back as a result.

There was previously an event where parties attempted to use what is known as a “51% attack” to take control of the Aragon treasury. The association decided to halt ANT holders’ power transfers as a result of this circumstance.

The Aragon team released the Base network, a DAO tool iteration, in spite of these difficulties and tribulations.

The Aragon Association’s decision, which offers immediate monetary compensation, is a sensible step that shows their commitment to their holders.

Additionally, it marks a turning point in the aragonOS team’s evolution toward implementing a corporate framework to foster innovation and product development inside decentralized autonomous organizations (DAOs).

More From The Kangaroo Times

Total
0
Shares
Related Posts
Total
0
Share