The Aragon Project, a pioneer in decentralized autonomous organizations (DAOs), has announced a significant update that will impact all stakeholders. The Aragon Association (AA), the legal steward of the Aragon treasury, assets, and mission, has made the decision to deploy most of the treasury to allow all ANT holders to redeem their tokens for ETH, dissolve the AA, and continue the mission in a product-focused structure.
This decision comes after a period of deep introspection and consideration of the project’s trajectory. The AA has identified the need for a fresh start and a total reset to safeguard and advance the project’s mission. The resolution includes deploying 86,343 ETH to a redemption contract for ANT holders to exchange their tokens for ETH at a fixed rate. The AA will also dissolve, with $11 million allocated to cover outstanding obligations and mitigate regulatory uncertainty.
The project will continue in a product-focused structure, with the IP, critical infrastructure, and operational runway transferred to a new entity. A Product Council will be established to guide development and governance, composed of industry experts and representatives from the Aragon Shield Foundation and the Aragon OSx team. The goal is to create a structure where decision-making is in the hands of those most aligned with the project’s mission.
This restructuring marks a significant shift in the relationship between ANT holders and the project. The Aragon team acknowledges the support of stakeholders over the years and aims to push the mission forward with a renewed focus on building a resilient DAO framework for Ethereum and beyond.
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