The Aragon Association, the governing body for the aragonOS DAO-creation tool, has announced that it will dissolve and distribute its assets to token holders. The aragonOS platform is a decentralized autonomous organization (DAO) framework that enables users to create and manage organizations on the Ethereum blockchain. The announcement comes as part of Aragon’s efforts to decentralize governance and give more power and control to its community.
Aragon is a project that aims to provide tools and infrastructure for the creation and management of Decentralized Autonomous Organizations (DAOs). DAOs are organizations that are run by smart contracts on the Ethereum blockchain, without the need for a centralized authority. They enable individuals to come together, pool their resources, and make decisions collectively.
The Aragon Association, which was initially set up to oversee the development and governance of the Aragon platform, has decided to dissolve itself in order to promote a more decentralized governance model. As part of this process, the association will disburse its assets, which amount to about $155 million, to token holders.
This move is in line with the principles of decentralization that underpin the blockchain and cryptocurrency industry. By distributing its assets to token holders, the Aragon Association is giving the community more control over the platform and its future development. It also aligns with the philosophy of DAOs, which aim to eliminate the need for intermediaries and give power directly to the people.
According to the announcement, the dissolution process will take place in three stages. First, the Aragon Association will distribute $5 million worth of ANT tokens to current active contributors and team members. This will serve as a token of gratitude for their contributions to the project. The second stage will involve the distribution of $30 million worth of ANT tokens to community members who have made significant contributions to the Aragon project. The final stage will involve the distribution of the remaining assets, which amount to about $120 million, to all token holders.
The decision to dissolve the Aragon Association and distribute its assets to token holders is a significant step towards decentralization and community empowerment. It demonstrates Aragon’s commitment to building a truly decentralized governance model and giving power back to the people. This move is likely to have a positive impact on the development and adoption of the Aragon platform and could serve as a model for other projects in the blockchain and cryptocurrency space.