Aragon

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Aragon?

Aragon (ANT) is a decentralized platform that enables the creation and management of decentralized autonomous organizations (DAOs) on the Ethereum blockchain. It uses the ANT token for governance, allowing holders to vote on proposals that guide the development of the platform. Aragon provides a software stack, including Aragon OSx, to streamline the creation and management of DAOs, and its native token is used for settlements and voting within the network.

How is Aragon used?

Aragon (ANT) is used for governance and decision-making within the Aragon network. ANT holders have voting rights and can influence the direction and policies of the decentralized autonomous organizations (DAOs) hosted on the platform. Additionally, ANT tokens are used to incentivize participation in the network and can be staked in the Aragon Court, a decentralized dispute resolution system, to gain voting rights and earn passive income.

How do I store Aragon?

To store Aragon (ANT) tokens, you can use a variety of options:

  1. Hardware Wallets: Ledger Nano S and Ledger Nano X are recommended for long-term storage and offline security.
  2. Guarda Wallet: This is a multi-currency wallet that supports Aragon (ANT) and offers a secure, user-friendly platform for managing cryptocurrencies. You can create an online wallet or download a mobile app for PC, Mac, iOS, and Android.
  3. MyEtherWallet: This wallet allows you to manage your ANT tokens securely and interact with the Aragon network.
  4. Centralized Exchanges: You can store ANT tokens on exchanges like Uphold, Kraken, and WazirX, but be aware that these exchanges may have specific restrictions and risks.
  5. Paper Wallets: ANT tokens can also be stored in paper wallets that support ERC-20 tokens.

Remember to always follow best practices for securing your wallet and storing your private keys safely.

How to buy Aragon?

To buy Aragon (ANT) tokens, follow these steps:

  1. Choose a Reliable Exchange:

    • Select a trustworthy and reputable cryptocurrency exchange that supports Aragon (ANT) purchases. Popular options include Kraken, Kriptomat, and Uphold.
  2. Create an Account:

    • Sign up for a free account on the chosen exchange. This typically involves providing personal details and verifying your email address.
  3. Verify Your Identity:

  • Complete the Know Your Customer (KYC) verification process to ensure account security and compliance with regulations. This may require submitting identification documents.
  1. Add a Payment Method:

    • Link a payment method such as a credit/debit card, bank account, or other supported options to fund your account.
  2. Buy Aragon (ANT):

    • Navigate to the Aragon (ANT) trading page and enter the desired amount to purchase. You can use fiat currency or exchange other cryptocurrencies for ANT.
  3. Manage Your Tokens:

  • Once you have purchased ANT, you can hold, sell, exchange, or withdraw your tokens as needed, depending on the exchange's features and your investment strategy.

Remember to carefully review the fees, security measures, and terms of each exchange before making a purchase.

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History of Aragon

Aragon (ANT) was founded in 2016 by Luis Cuende and Jorge Izquierdo, two Spanish developers and entrepreneurs. Their goal was to create a platform that would enable transparent and accountable governance for decentralized organizations (DAOs), which was lacking in existing tools at the time. Aragon aimed to provide a customizable platform that could be used by organizations of any size.

In 2017, Aragon conducted a token sale and raised $25 million, which allowed them to fund the development of the platform and accelerate its adoption. This event was significant, as it was the 4th largest crowdfunding event in history at the time.

Since its inception, Aragon has continued to refine and expand its features, including customizable templates, built-in voting systems, and support for Ethereum-based tokens. In 2019, Aragon Court was launched, which is a decentralized dispute resolution system built on the Aragon network.

Today, Aragon is a widely recognized platform for creating and managing DAOs. Its innovative approach to governance has attracted the attention of policymakers and thought leaders interested in the potential of blockchain technology to transform traditional governance structures. Aragon has been used by a wide range of organizations, including blockchain startups, community projects, and charitable organizations.

Aragon's platform is built on the Ethereum blockchain and utilizes smart contracts to streamline and enhance processes. The native token, ANT, is used for governance and to incentivize participation in the network. Aragon's goal is to provide a decentralized and fairer alternative to the traditional structure of digital organizations.

The Aragon Association, a non-profit entity based in Switzerland, manages the project's intellectual property and funds raised in the Aragon Network Token sale. The association is responsible for progressively transferring the treasury to the Aragon DAO vaults as security thresholds are met.

Over time, Aragon has continued to evolve, launching new features such as Aragon OSx and Aragon App (Beta), which provide a more user-friendly and flexible platform for building DAOs. The project has also explored new technologies like Zero Knowledge Proofs to enhance privacy and scalability in voting systems.

Aragon has also organized events like the DAO Global Hackathon, which brought together hundreds of developers to build tooling for DAOs. The project has also acquired Dvote Labs OÜ, the company behind Vocdoni, an open-source technology stack that enables private, universally verifiable, and scalable voting for traditional organizations.

Currently, Aragon is a leading platform in the decentralized governance space, with over 3,800 DAOs created on its network, including reputable high TVL projects such as Lido, Decentraland, API3, and more.

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How Aragon works

Aragon (ANT) is a decentralized platform designed to simplify the creation and management of decentralized autonomous organizations (DAOs). Here's a detailed overview of how it works:

Key Components
  1. Aragon OSx: This is the base layer of the platform, comprising two types of smart contracts: core contracts and framework contracts. Core contracts provide basic, customizable functionality for DAOs, such as naming, permission management, and digital asset management. Framework contracts create and manage core contracts, enabling the formal creation and modification of DAOs.

  2. Aragon App: This is a no-code platform that allows users without programming knowledge to create and manage DAOs. It streamlines the process by providing a user-friendly interface for minting and distributing digital tokens, specifying governance structures, and more.

  3. Software Development Kit (SDK): This tool allows developers to interact with Aragon OSx using JavaScript, eliminating the need for knowledge of Ethereum's Solidity programming language.

Governance and Decision-Making
  1. ANT Token: The native governance token of the Aragon network, ANT is used for voting on proposals that guide the development of Aragon. Holders of ANT have the right to participate in decision-making processes.

  2. Decentralized Governance: The Aragon DAO is comprised of ANT token holders who vote on proposals to make changes to the platform and direct funds in the Aragon ecosystem. This ensures that the platform is managed collectively and transparently.

Security and Dispute Resolution
  1. Aragon Court: This is a decentralized dispute resolution system where token holders can stake ANT tokens to gain voting rights. The system resolves disputes within the Aragon network, ensuring fair and secure decision-making.
Integration and Flexibility
  1. Interoperability: Aragon is designed to integrate with other blockchain applications and platforms, allowing users to expand its functionalities and create more complex systems.

  2. Customizability: The platform offers a high degree of flexibility, enabling users to tailor DAOs to their specific needs and create unique organizational structures.

History and Development

Aragon was founded by Luis Cuende and Jorge Izquierdo in 2017 with the goal of providing tools for decentralized governance. The platform has undergone significant development, including the release of Aragon OSx and the Aragon App, and has been used to create over 3,800 DAOs.

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Aragon's strengths

Aragon (ANT) has several strengths that make it a successful and innovative project:

  • Easy Creation and Management of DAOs: Aragon provides a streamlined process for creating and managing decentralized autonomous organizations (DAOs) using its software stack, which includes Aragon OSx, a smart contract framework, and tools like the software development kit (SDK) and the Aragon App.

  • Governance Token: The ANT token serves as the governance token, allowing holders to vote on proposals that guide the development of Aragon. This decentralized governance model ensures that the community has a say in the project's direction.

  • Security and Decentralization: Aragon's decentralized architecture and the use of blockchain technology ensure that data is secure and transparent. The Aragon Court (soon to be renamed Aragon Protocol) resolves disputes within the network, and jurors (to be renamed Guardians) are incentivized to maintain the integrity of the system.

  • Flexibility and Customization: Aragon's modular approach allows for customization of DAO features, making it adaptable to various business needs. The Aragon Client provides a user-friendly interface for setting up DAOs, and the AragonOS framework supports the creation of digital assets and management of permissions.

  • Scalability and Efficiency: Aragon is working on Aragon Chain, a Proof of Stake extension that aims to reduce gas fees and increase efficiency. The upgrade to ANTv2 has also reduced gas usage by 66%.

  • Community and Adoption: Aragon has seen significant adoption, with over $900 million in value stored across 15,000 DAOs. The project has a strong community and a non-profit foundation that supports its growth and further adoption.

These strengths have contributed to Aragon's success and its potential for continued growth and innovation in the decentralized autonomous organization (DAO) space.

Aragon's risks

Aragon (ANT) carries several risks that investors should be aware of before investing in the platform. These risks include:

  1. Market Volatility: Aragon is a high-risk investment, and market fluctuations can result in significant losses.
  2. Smart Contract Vulnerabilities: The use of smart contracts on the Ethereum blockchain can expose users to potential vulnerabilities and security risks.
  3. Regulatory Uncertainties: The regulatory environment for blockchain and cryptocurrencies is still evolving and can lead to unforeseen challenges and risks.
  4. Potential Loss of Funds: Users acknowledge that participating in DAOs involves the risk of losing digital assets indefinitely.
  5. Lack of Privacy: Aragon offers limited privacy features, which may be a concern for users who value their privacy.
  6. Complexity: The platform can be challenging to understand and use, which may deter some users.
  7. Scalability Issues: Aragon is built on Ethereum, which has limited scalability, making it difficult to process large amounts of data or transactions.
  8. High Transaction Costs: Transaction costs on Aragon can become significant, especially during periods of high network traffic.

These risks highlight the importance of conducting thorough research and seeking professional advice before investing in Aragon (ANT).

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Did Aragon raise funds?

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Aragon’s team

  • Luis Ivan Cuende: Co-founder of Aragon, creator of the DAO builder's platform, and retains influence in the Aragon Association. He proposed token buybacks to solve the governance crisis and advocated for the transfer of the treasury to ANT holders.
  • Jorge Izquierdo: Co-founder of Aragon, founder of Aragon One, and a community member. He stepped down as CEO of Aragon One in 2021 but remains involved in steering the protocol.

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