How to Create a DAO? The Aragon Project and ANT Token Reviewed
Aragon, a blockchain platform, enables the formation and customization of your own decentralized autonomous organizations (DAOs).
Aragon's principal mission is to promote transparency, democratic values, and fairness in managing a cryptocurrency project. It offers users the ability to create smart contracts based on templates and launch DAOs for their startups without having to delve into programming or code-writing.
Origins
Jorge Izquierdo, a developer, was the driving force behind the inception of the Aragon project. Back in 2016, he brought together a team of finance experts and programmers to design a platform that could effectively manage and tweak DAOs. Aragon's founding team sought to equip people with a robust tool for proficient financial asset management.
The initial version of the Aragon platform, Aragon 0.5, was introduced on the Ethereum blockchain in May 2018. The project started preparing for seamless integration into Ethereum 2.0 (Ethereum Proof-of-Stake) from 2020 onwards. Aragon has since been evolving continuously, earning itself a reputable spot in the DAO management arena.
The homepage of the official Aragon website. Source: aragon.org
Fundraising rounds
As per the data from Crunchbase, a renowned analytical resource, Aragon has managed to secure $26 million in two separate funding rounds. The project has attracted a wide array of cryptocurrency funds, with notable contributors including ZBS Capital, Boost VC, and CoinFund.
The most recent round of investment took place on February 19, 2020. The lead venture investor was Tim Draper, a well-known cryptocurrency enthusiast.
Aragon platform's investment activity chart. Source: Crunchbase
Features of the Aragon platform
Aragon, a platform designed for creating and configuring Decentralized Autonomous Organizations (DAOs), offers its users an array of tools:
ā The capability to generate and distribute tokens via a unique smart contract, authorize wallets, and establish voting settings;
āA streamlined process for proposing initiatives and voting for them;
ā A user-friendly template interface for custom DAO creation, removing the need for developers to construct their own designs;
ā Tools for tracking digital assets, observing financial transactions, monitoring balances, and managing resource allocation within the DAO;
ā The platform collaborates extensively with numerous DeFi services through various partnerships. You can find data on these on the official website under the "Ecosystem" section.
Thanks to Aragon's open-source structure, there's virtually no limit to the possibilities for expanding the functionalities within your own DAO.
Creation and configuration of DAOs. Source:app.aragon.org
ANT: Aragon's native token
The project's ANT token serves multiple purposes: it's used for fees associated with the creation of custom DAOs and other services, it's employed in managing the project, and it also functions as a reward for using the platform.
According to the analytical resource, CoinGecko, at the time of writing, the ANT token has the following characteristics:
- The asset is priced at $3.62;
- Its market capitalization stands at $145 million;
- There are 43 million coins in circulation;
- The maximum supply is 45 million;
- The average daily trading volume is $9.5 million;
- All-time high recorded at $15.64;
- All-time low was registered at $0.30.
The ERC-20 ANT token can be purchased on various cryptocurrency platforms such as WhiteBIT, Kraken, OKX, Coinbase, KuCoin, Gate, among others. These trading platforms can be found on the CoinGecko and CoinMarketCap analytics websites in the "Markets" section.
ANT token price fluctuations. Source: Coingecko
Intriguing facts:
ā In the Aragon ICO in 2017, a record-breaking $25 million was raised in the first hour;
ā Among Aragon's innovations is a decentralized court system based on smart contracts, where ANT token holders serve as the judges;
ā With the aid of Aragon, DAOs for projects such as Decentraland, Api3, Lido, and Aavegotchi have been established.
