【速報】Switzerland's Aragon Association to Dissolve and Allow Redemption of Native Token ANT for ETH

The Aragon Association, a Swiss non-profit, has announced its dissolution and the redemption of its native token ANT for ETH. With the aim of providing the best redemption rate for all ANT token holders, the association will liquidate its 86,343 ETH treasury. Each ANT token can be exchanged for 0.0025376 ETH, and users have until November 2, 2024 to make the swap. After redemption, all ANT tokens will be burned, indicating the end of their purpose. This decision was made to comply with legal constraints and mitigate regulatory risks related to token speculation and market manipulation.

Frustration and Legal Disputes Lead to Dissolution

Members of the Aragon DAO have expressed frustration and considered legal action against the Aragon Association due to disagreements regarding the ETH treasury and the non-profit organization's transparency. The association had initially promised to place the treasury under a voting DAO by November 2022 but failed to do so. These issues have led to a breakdown in trust and ultimately the decision to dissolve the association.

Reserving Funds and Future Plans

The Aragon Association will retain $11 million in funds to cover any outstanding costs related to the dissolution and to hedge against regulatory uncertainty. Should there be any remaining funds after the dissolution, they will be used to support a "new product-focused structure." This move aims to ensure that the project continues and adapts to changes in the regulatory landscape.

In summary, the Aragon Association is dissolving and allowing users to redeem their ANT tokens for ETH. The association will liquidate its ETH treasury to provide the best redemption rate possible. Legal disputes and transparency issues have contributed to this decision, and funds will be reserved to cover costs and support future endeavors.