【特集】Aragon Association Dissolves and Distributes Assets to Token Holders

Aragon Association to Dissolve and Distribute Assets

The Aragon Association (AA), the governing body for aragonOS software, has announced its dissolution and the distribution of its assets to token holders. In a recent blog post, the association revealed that it will distribute 86,343 Ether (ETH) from its treasury to token holders as it winds down its operations. This amounts to approximately $155 million at the current price. The distribution will be carried out through a smart contract on the Ethereum network.

Redemption of ANT Tokens and Dissolution Process

As part of the distribution process, each Aragon (ANT) token holder will be able to redeem their tokens for 0.0025376 ETH ($4.57 at the current price) per ANT they send into the redemption contract. Once all redemptions have been completed, the association will burn all remaining ANT tokens held in the contract and dissolve. The post stated that ANT will no longer have utility after this point.

Use of Funds and Transition to a Product-Focused Structure

While most of the treasury will be distributed to token holders, $11 million will be transferred to the Aragon Shield Foundation to cover outstanding obligations and mitigate regulatory uncertainty. The remaining team will reorganize as a "company" focusing on the development of Aragon products. Additionally, a Product Council will be established to assist in decision-making regarding product development.

Reasons for Dissolution and Failed Attempts at Modification

The AA cited bureaucratic complexity, misaligned stakeholders, and failed attempts at modifying governance as the main factors that led to its dissolution. The organization faced increasing tensions due to these challenges and found no viable way to continue while addressing them. Its previous attempt to vest control of the treasury in the hands of ANT holders was hindered by a significant gap between the value of the treasury and the token market cap. As a result, the AA decided to return funds to investors and dissolve the association.

In summary, the Aragon Association has decided to dissolve itself and distribute its assets to token holders. ANT holders will have the opportunity to redeem their tokens for ETH through a smart contract on the Ethereum network. The association will then burn all remaining ANT tokens and cease its operations. A portion of the treasury will be allocated to cover obligations and mitigate regulatory uncertainty, while the remaining team will transition to a product-focused structure. The decision to dissolve was prompted by challenges in governance and stakeholder alignment.