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Aragon Association to Dissolve, Distributing $155 Million in ETH to Token Holders

today 11/03/2023
The Aragon Association, a major cryptocurrency project focused on decentralized governance, has announced its dissolution and plans to distribute most of its assets, including 86,343 Ether (ETH) worth around $155 million, to tokenholders. The decision was made due to internal challenges and the need for a fresh start under new leadership. The association will redeem ANT tokens for ETH at a fixed rate, with tokenholders having until November 2024 to participate. The redeemed ANT will be burned, and any remaining ETH will be used to support a new product-focused structure. Despite the dissolution, the Aragon project's mission to create tools for decentralized organizations will continue under new leadership and a more streamlined structure. A Product Council will guide development and governance, and a company composed of the current Aragon OSx team will continue product development. The association's dissolution comes after an attempt by the "Risk-Free Value Raiders" to gain control of the treasury through the acquisition of ANT tokens, which the association labeled as a "51% attack."
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