Aragon DAO Members Fund Legal Action Against Founders


21 Nov 2023 3:13 PM

Aragon DAO members have expressed dissatisfaction with the founding team’s recent move to dissolve its governing body and shut down...

  • Aragon DAO members are unhappy with the decision of the founding team to dissolve the governing body and shut down its token.
  • The DAO has voted to fund legal action against the founders.
  • The Aragon Association has declared its dissolution and offered token holders the option to exchange their tokens for Ether.
  • The dissolution will return approximately $155 million to stakeholders.
  • The Aragon team deactivated the ANT token and dissolved the governing body without consulting the DAO, leading to community discontent.
  • The DAO has allocated 300,000 USD Coin to Patagon Management, owned by Diogenes Casares, to initiate legal proceedings against Aragon.
  • Patagon will lead the negotiations and litigation, aiming for a proportionate return of funds to token holders.
  • Patagon has the authority to determine the legal strategy and maintain confidentiality, but financial transactions will be publicly reported.
  • The funds will be held in a separate bank account and wallet address.

The sentiment in the article is negative, with dissatisfaction expressed by Aragon DAO members towards the founding team's actions.

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You May Ask

Why are Aragon DAO members unhappy with the founding team?What is the Aragon Association's response to the situation?How much will be returned to stakeholders through the dissolution?Who will lead the legal proceedings against Aragon?How will the funds be handled during the legal process?

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