{"id":6477,"date":"2023-11-03T12:22:16","date_gmt":"2023-11-03T12:22:16","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=6477"},"modified":"2023-11-03T12:22:16","modified_gmt":"2023-11-03T12:22:16","slug":"aragon-association-will-dissolve-itself","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/aragon-association-will-dissolve-itself\/","title":{"rendered":"Aragon Association Will Dissolve Itself!"},"content":{"rendered":"

The non-profit Aragon Association will dissolve itself, allowing users to use their local token, ANT\u00a0in exchange for ETH.<\/p>\n

In a statement on Thursday, the project said the Aragon Association will liquidate its 86.343 ETH (155 million $) treasury, thereby users can use each ANT token for 0.0025376 ETH.<\/p>\n

Users will have until November 2, 2024<\/strong> to exchange their tokens. After being exchanged, all ANT tokens will be burned, as \u201cthere’s no point in holding onto ANT from now on.<\/strong><\/em>\u201d said.<\/p>\n

The company said in a statement that \u201cAA has reached the best payback rate it can get for all ANT holders by determining the most suitable and tax efficient way to continue and protect the project. This decision could not be put to a public vote due to legal restrictions.<\/strong><\/em>\u201d<\/p>\n

The Association will also retain a 11 million dollar fund to cover the unpaid costs needed for its distribution and to take measures against regulatory uncertainty. If there are unused funds after termination, the ‘new product-focused structure<\/strong><\/em>‘ will use them to finance its operations.<\/p>\n

You might like: Coinbase Announces Q3 Earnings Report!<\/strong><\/em><\/a><\/p><\/blockquote>\n

Disappointment<\/h1>\n

Aragon DAO members considered legal action against the Aragon Association due to disputes over the ETH treasury and transparency of the establishment. The Aragon Association had promised to deliver the treasury in DAO’s voting by November 2022<\/strong>, but failed to do so.<\/p>\n

The Association\u00a0also serves as legal representative of the Aragon project, a platform that assists in the development and management of decentralized autonomous organizations.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram<\/strong>,<\/a>\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The non-profit Aragon Association will dissolve itself, allowing users to use their local token, ANT\u00a0in exchange for ETH. In a statement on Thursday, the project said the Aragon Association will liquidate its 86.343 ETH (155 million $) treasury, thereby users can use each ANT token for 0.0025376 ETH. Users will have until November 2, 2024<\/p>\n","protected":false},"author":2,"featured_media":6476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[2337,2335,2336,1239,93,106,105],"class_list":["post-6477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-ant","tag-aragon","tag-aragon-association","tag-dao","tag-defi","tag-eth","tag-ethereum"],"yoast_head":"\nAragon Association Will Dissolve Itself! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The non-profit Aragon Association will dissolve itself, allowing users to use their local token, ANT\u00a0in exchange for ETH.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/aragon-association-will-dissolve-itself\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aragon Association Will Dissolve Itself! 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