Aragon DAO votes to sue its founders over dissolution
Aragon DAO votes to sue its founders after they unilaterally decided to dissolve its governing body and reallocate assets. The members of Aragon DAO, a platform that allows developers to create and scale DAOs without coding, have decided to initiate legal proceedings against its founders . This action comes in response to the founders ’ decision to disband the organization’s governing structure and reallocate the majority of its assets to its tokenholders, a move that was made without the consensus of the DAO community. The controversy began on Nov. 2 when the Aragon team announced the dissolution of the Aragon Association, intending to distribute the organization’s funds to ANT tokenholders by allowing them to exchange their tokens for Ethereum. This plan involved redistributing approximately $155 million in digital assets. The @AragonAssoc deploys most of the treasury (>$155m, 87%) to allow all token holders to redeem ANT for ETH, dissolves itself, and pas...