Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Aragon DAO Review – An Utopia in the Making
2.2 k views
One of the beauties of blockchain technology is that it enables the creation of multi-layered worlds. It is similar to our Universe in which countless galaxies contain numerous solar systems, which in turn consist of several planets, each with diverse ecosystems. In turn, these ecosystems follow the same hierarchical scale down to the smallest atom. The possibilities of development are endless.
Aragon is a decentralized autonomous organization (DAO) that allows the development and existence of other DAOs within its realm. It is one of the many worlds on the blockchain that enable the creation of other worlds. Furthermore, it lets them create their governance model for as long as they abide by Aragon’s form of governance, which tends towards pure, unabating democracy.
It might be too soon for an Aragon review, as this DAO world is barely starting to evolve and expand. However, it is worth observing its remarkable progress, the way it works, and what it has in store for the future.
Since its launch in 2017, Aragon has supported the creation and development of over 1,500 DAOs in its network. These projects have stored more than $350 million in assets on the platform. It is a bright start for an ambitious project, and many are wondering if it has what it takes to live up to its promise.
What is Aragon?
Aragon is a decentralized autonomous organization (DAO) that enables other entities to develop their own DAOs on the platform using preset templates of smart contracts. The templates vary depending on the project, and they can vary from corporations to startups and charities.
Aragon is built on the Ethereum blockchain. It aims to create an ever-expanding ecosystem of dAPPs, crypto protocols, and DAOs that would compete in the form of governance capitalism. The goal would be to discover the most effective governance model that could later be implemented in real-world organizations and institutions.
Aragon itself functions on several decentralized digital jurisdictions, like Aragon Court and Aragon One. It also uses no less than three different tokens, out of which the ANT token gives governance powers to the participants.
The internal decisions, developments, and disputes are settled based on a code of core principles, called the Aragon Manifesto. Some of the guiding values in the document include:
- Freedom of choice
- Disincentivization of violence
- Decentralization of power
- Long-term value over short term profit
- User participation
Anyone who wants to develop a new project on Aragon has to abide by these rules. The developers consider this document to be in its “alpha” form and expect the community to develop it further in time.
What is the ANT token?
ANT stands for Aragon Network Token, and as its name suggests, it is the primary token on the Aragon network and the only one with governance purposes. It is an ERC-20 token built on the Ethereum blockchain, and which has been launched after a successful Initial Coin Offering (ICO) in May 2017.
The Aragon ICO allowed only investors from outside the US to purchase ANT tokens using Ether (ETH). The event kicked off with a $25 million soft cap accomplished in less than an hour. According to the ICO terms, 70% of ANT tokens’ total supply was put up for sale. Another 15% (almost 6 million ANT) was kept for the Aragon Foundation, and the other 15% went to the early contributors and founders of the network.
At the time of this writing, ANT has a market capitalization of $109,813,522. There are approximately 33,142,159 ANT tokens in circulation out of a total supply of 39,609,524 ANT units. One ANT is currently trading for $3.31.
Although Aragon is a promising project, there aren’t many places where you can buy ANT today. The only reliable crypto exchange that offers ANT for sale is Bittrex. Fortunately, there are plenty of crypto wallets to choose from if you want to store ANT. Thanks to its ERC-20 nature, the token is compatible with wallets like MyEtherWallet, Exodus Wallet, or Atomic Wallet.
A Brief History of Aragon
Aragon is the brainchild of two of the youngest and most promising minds in the crypto industry, Luis Cuende and Jorge Izquierdo.
The two Spanish developers have made important breakthroughs in the tech world from a tender age. Cuende is somewhat of a wunderkind who, at only 16-years old, was a tech advisor to the vice president of the European Commission. In 2016, at age 20, he made it onto the European list of Forbes’ 30 under 30.
Izquierdo is the Watson to Cuende’ Sherlock Holmes. He is a brilliant programmer with a knack for blockchain and crypto technology. Together, they have developed and run numerous startups in Spain and the United States by 25.
In 2017, they teamed up to develop Aragon, a DAO that would work on genuine democratic principles, which the two developers believe have disappeared from the current society. Their goal is to give “internet communities unprecedented power to organize around shared values and resources.”
How does Aragon work?
Aragon works a bit differently than other DAOs, and it’s mainly due to its unique structure of decentralized digital jurisdictions.
One of these jurisdictions is Aragon One, which is a for-profit development team in charge of maintaining the Aragon platform.
Responsible for commissioning Aragon One is The Aragon Foundation, a Swiss non-profit organization.
When the participants on the network vote on the next step in the platform’s roadmap, the Aragon Foundation funds Aragon One to make the changes that have been approved by the community.
ANT holders have the right to vote on community proposals. Until March 2020, participants had to deposit a minimum of 1% of their total ANT supply before submitting their votes.
A participant can submit a proposal if they deposit at least 1000 ANT. Additionally, a change to the network’s mechanism can occur only if at least 51% of the voters support the proposal.
The legality of the Aragon network is given and sustained by the Aragon Court.
What is the Aragon Court, and how does it work?
The Aragon Court is a judicial mechanism composed of smart contracts. It has the role to oversee the voting of community proposals, settle disputes between participants, and steer the network’s decisions according to its roadmap and align with the Aragon Manifesto’s core values.
Community members can participate in the Aragon Court’s judicial process as jurors, plaintiffs, or defendants, but they must put down a minimum stake of 10 000 ANJ tokens.
ANJ is an ERC-20 token that only has use within the Aragon Court. Participants have to create a smart contract and deposit ANT tokens to mint ANJ tokens before applying for an Aragon Court role.
The decision-makers in the Aragon Court are the jurors who are randomly selected from a pool of users previously enlisted in the process. Their decisions are made independently and anonymously, so the risk of tilting the scale of justice one way or another is minimal.
Jurors receive incentives in ANJ tokens for their participation. Therefore, users are motivated financially to take part in the democratic process.
As of now, the Aragon Court is a mechanism in full progress, and new changes apply to its functionality as the network expands.
In this regard, Aragon is working on issuing another ERC-20 token, called ARA, which will power the Aragon Chain.
The Aragon Chain will be a second layer of the Aragon network that will use Proof-of-Stake (PoS) to enable quick, cheap, and low-risk transactions between the many communities Aragon platform. This protocol is still “under construction,” and its use of ARA tokens will be possible by bonding them to ANT tokens through smart contracts.
The Bottom Line – Aragon DAO Review
Aragon has the wild ambition of creating a purely democratic society where countless communities operate under their own governance rules, but still under the Aragon Manifesto umbrella. It sounds promising, encouraging, but idealistic.
We know from real-world experience that a purely democratic system is nothing short of utopia. Numerous societies have tried it, but they had to make small concessions to authoritarian rules because human nature makes it impossible for such a system to function for very long.
Btc
Bitcoin
$62.547
price
price
0.84959%
price change
Will blockchain technology enable a perfectly democratic world, if only in the virtual medium through Aragon? It remains to be seen. The project’s low popularity and lack of support from the industry’s most prominent actors hint that it is unlikely.
Previous
KuCoin Hacker Prepares To Launder the Looted $150M Via Uniswap
Next
Is Decentralization just a Pipe Dream in the Crypto Sector?
Written by
Iulian Lesanu
@Iulian
565 posts
More author posts
WMA: Bitcoin Clings onto $62,000 Amid Extreme Market Volatility
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
8 months ago
WMA: Bitcoin Tumbles to $62,000 as the Market Takes a Dip
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin is down by over 5% to trade at around $62,300. Ethereum decreased by almost 9% to trade at around $2,400. XRP is down by 15%, Solana by 8%, and Dogecoin by 13%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value…
8 months ago
Dypius Launches 3 New and Exciting Mini-Games with Direct Rewards on Base
Dypius delighted the gaming community by introducing three captivating new mini-games: Stone Crack, Kitty Dash, and CAWS Adventure. The games spur from the successful use of Base's secure Layer-2 technology and promise smooth, low-cost, decentralized gameplay. Players can already dive into the new Dypius games and compete in dedicated leaderboards and in-game rewards distributed directly on Base. Boasting cutting-edge graphics and engaging gameplay, these games deliver an accessible and rewarding gaming experience for all kinds of players. Stone Crack, Kitty Dash,…
8 months ago
WMA: Bitcoin Soars to $66,000 as the Market Sees Green All-Around
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,31 trillion. Bitcoin is up by over 5% to trade at around $65,700. Ethereum increased by almost 4% to trade at around $2,660. XRP is up 11%, Solana 10%, and Shiba Inu 36%. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value of protocols…
8 months ago
World of Dypians Reaches New Prestige Level by Making Binance’s Latest Industry Report
World of Dypians (WOD) - a unique, groundbreaking MMORPG, has been featured in the latest Binance report, “Navigating Crypto: Industry Map." Binance is renowned for its in-depth reports showcasing some of the industry's most promising projects. Featuring Binance's overview of the crypto ecosystem is a momentous event for WOD, a game that has been building through innovation and creativity to deliver unmatched gaming experiences since day one. Binance’s The Industry Map looks at multiple subcategories of the crypto industry, such…
8 months ago
WMA: Bitcoin Surges to $62K as the Market Prepares for Altcoin Season
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,19 trillion. Bitcoin is up by over 4% to trade at around $62,700. Ethereum increased by almost 76% to trade at around $2,570. XRP is up by 1%, Solana by 6%, and Shiba Inu by 4%. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector has grown significantly,…
9 months ago
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH USBrowse categories
Explore trending topics in the crypto community right now.
Bitcoin
SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets
The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…
Marius Bogdan Dinu 
@bdinu89
@bdinu89
1 year ago 
597 views
Bitcoin Should be Banned in the United States: Charlie Munger
Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China. In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…
2 years ago 1.5 k views
Tesla’s BTC Positions Remained Unchanged in Q4 of 2022
According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…
2 years ago 1.5 k views
Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF
The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF. Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor. Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…
2 years ago 1.8 k views
Ethereum
Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live
At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…
2 years ago 1.6 k views
Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears
Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system. However, since the Beacon launch…
2 years ago 1.6 k views
FTX Hacker Converts 50k Stolen ETH to BTC
Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%. https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…
3 years ago 1.9 k views
Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant
According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US Treasury Department. Indeed, the OFAC administers and enforces US financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash. According to…
3 years ago 1.8 k views
Trading
How to Leverage Arbitrage Opportunities in Crypto Markets
Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit. Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…
2 years ago 3 k views
The Different Types of Copy Trading in Crypto
Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…
2 years ago 1.7 k views
How to Spot an Unsafe Crypto Exchange
Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable. With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange. The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…
2 years ago 2.2 k views
What Is Grid Trading in Crypto?
Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…
2 years ago 1.6 k views
Tech
Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity
The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 574 views
Bit2Me Champions WEMIX Token in Pioneering European Listing
Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 404 views
CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades
In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 465 views
Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management
The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 592 views