The Aragon Association canceled plans for holders of its $ANT token to control its $200 million treasury, dealing a major blow to the DAO-focused Ethereum startup’s own transition to a decentralized autonomous organization. realDannyNelson reports
The Aragon Association on Tuesday canceled its plans for holders of its ANT token to wield broad voting powers over everything from strategic direction to a $200 million treasury, dealing a major blow to the DAO-focused Ethereum startup’s own transition to a decentralized autonomous organization.
“The Aragon treasury was established with the explicit mission of supporting builders to advance decentralized governance infrastructure. Based on Swiss regulations that mandate the use of Aragon’s treasury for its stated social purpose, fiduciary duty compels Aragon Association to secure these funds from those seeking to access them for their own financial gains. There is clear evidence that the entities involved in Aragon’s attack are pursuing that end.
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