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 DAO Repurposed
Subsequently, in a statement on May 9, the association has repurposed the Aragon DAO to focus its funding on a new grants program targeting decentralized application (dApp) and DAO builders. The decision is part of the association’s “fiduciary duty” to protect its treasury from “raiders.”
Through this grants program, the Aragon DAO will seed various builders launching solutions targeting decentralized finance (DeFi), DAOs, and even plugins leveraging their technology stack.
The decision will ensure that the Aragon DAO’s treasury is directed to what matters and cushioned against malicious actors.
In this case, the goal will be to funnel funds to dApp builders that help advance the DAO’s core mission of availing tools for users and projects to experiment with decentralized governance that they claim works at the “speed of software.”
Unlike hierarchical governance systems in traditional projects, DAOs are smart contracts-driven. They ensure that token holders of the DAO take charge, driving the project in the direction most DAO members agree.
For example, depending on the project’s immediate needs, the DAO can request that members vote on proposals to enhance the platform. Sometimes, DAO members can be asked to select quality projects deserving of funding.
Protection From Value Raiders Like Arca
The Aragon Association re
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Author: Dalmas Ngetich