DAOs: Aragon, the Platform for Building Decentralized Autonomous Organizations, Implements Safeguards to Protect Treasury

Aragon, the platform for building and running decentralized autonomous organizations (DAOs), has implemented a number of safeguards to protect its treasury in response to a coordinated attack focused on draining value from the project.

Timeline of Aragon

The Aragon Association found itself at the center of a controversy this week when it took control of $200 million from its own four-month-old Aragon DAO. The Association, a Swiss nonprofit dedicated to facilitating the creation of DAOs, aimed to safeguard the funds from a group of activist investors led by asset management firm Arca.

The Aragon Association behind Aragon, an open-source, community-centric platform on Ethereum building tools for uses depending on decentralized autonomous organizations (DAOs), has taken steps to secure its treasury after suspicious activity was picked out from its official Discord channel.

Aragon, a framework designed to facilitate the launch of decentralized autonomous organizations (DAOs), has shuttered plans to give ANT token holders voting rights. The Switzerland-based organization alleged that investors, including hedge fund Arca, were launching a 51% attack.

Swiss-based firm, the Aragon Association, has abandoned plans to grant voting rights to its native Aragon (ANT) token holders over various aspects of the organization's operation, including its $200 million treasury.

Top US-based crypto exchange platform Coinbase is adding three additional under-the-radar altcoins to its listing roadmap. Coinbase announces that Magic (MAGIC), Rocket Pool (RPL) and Aragon (ANT) are now on its roadmap. MAGIC is the token used to operate Treasure, a decentralized video game console.

The Aragon project swapped $20 million worth of USDC and wrapped bitcoin for ether (ETH) to rebalance its treasury. The post Aragon Project adds $20 million in ether to treasury for safety amid FTX collapse appeared first on The Block.

The vote is to determine what to do with its treasury as the Aragon community transitions to a DAO with delegated voting capabilities. The post Aragon community voting to transfer treasury funds after dissolving old DAO appeared first on The Block.