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What is Aragon?
LearnDefiNewbie
May 15, 2022

What is Aragon?

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What is Aragon?

Aragon (ANT) is an open source, non-profit blockchain protocol built on top of the Ethereum network. This protocol is designed to simplify the creation and management of dApps, blockchain protocols, and DAOs. Aragon’s goal is to find ways to accelerate the adoption of blockchain technology in enterprise operations by using several modules with common business functions.

What problems can Aragon solve?

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Aragon tries to address one of the biggest barriers to enterprise blockchain adoption, which is the lack of experts who understand the technology in depth along with its expensive fees. Aragon wants to reduce costs and improve overall efficiency through programmable DAO systems.

Basically, Aragon is applied to:

  • Issuance of shares
  • Set up the knife system
  • Set the roles and permissions of system members.
  • Vote through certain rules
  • Maintain accounting records of company shares.

Key Components of the Aragon Platform

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Aragon combines many unique concepts and features to realize its goals. All DAOs come pre-installed with the most important components a business needs. These are the components in the structure of the Aragon platform.

Aragon Client

The Aragon Client is a place for users to create customizable DAO features. The client is designed to provide a transparent, easy-to-navigate smart contract framework that requires no prior knowledge of blockchain technology.

AragonOS

AragonOS is a platform for users to set up their own token sale. Here you can decide on all the most important details of your fundraising event. Features like time frames and ways to incentivize contributors are available for you to set up.

Aragon Network

The Aragon Network is an interactive network between DAOs. This system allows multiple businesses to conduct business with each other in a decentralized manner on the Ethereum blockchain.

Aragon Foundation

The Aragon Foundation is a non-profit organization whose mission is to advance the community of Aragon. The organization will find businesses interested in the project and help advance their cause.

Highlights of the Aragon project

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Security: The Aragon network is based on the Ethereum blockchain and open source to ensure that all operations on the platform remain secure. Aragon has undergone extensive testing by the Ethereum community.

Aragon can make DAO programming simpler for those new to blockchain technology. This network will eliminate the need for businesses to hire blockchain experts as all the most important features and functions are available as modules and up to the standard of quality.

Customization: In addition to the default modules available, businesses can also customize each feature to increase the efficiency of the DAO. These changes will be made through the interface. Or if the business can potentially make changes directly to the open source code. In this way, Aragon perfectly meets the needs of almost any type of organization.

Global Reach: Another big advantage that Aragon users enjoy is access to the global network. The platform encourages businesses to partner with other organizations from different regions of the world. They can exchange ideas with each other and help streamline the sign-in process for new users.

Aragon introduces a digital jurisdiction called “Aragon Court.” This system will enforce digital contracts between organizations. Aragon Court was created by Aragon to provide a dispute resolution mechanism outside of pre-programmed modules.

Transparency: Aragon users enjoy complete transparency when participating in using the network. They can easily track all DAOs. This way, all users can confidently share the benefits of the network.

What is the ANT token?

ANT is the governance token of the Aragon ecosystem. This token gives users voting rights on the platform. Your influence will depend on the number of ANT tokens you hold.

In addition, Aragon also introduced two other special tokens, ANJ and ARA. This is a fixed asset that allows you to earn passive income on the network. ANJ is used for the Aragon Court system, and ARA is used for the Aragon Chain.

To obtain ANJ and ARA, you must deposit ANT into exchange dApps.

Some basic information about the ANT token

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Token name: Aragon Token

Symbol: ANT

Blockchain: Ethereum

Standard: ERC-20

Contract: 0xa117000000f279d81a1d3cc75430faa017fa5a2e

Type: Utility, Governance

43,030.989 ANT total supply

Circulation supply: 38,064.156 ANT

Where to store ANT tokens?

ANT is an ERC-20 standard token. As a result, you can keep this token in a variety of wallets, including Metamask, Trust Wallet, Coin98 Wallet, Coinbase Wallet, cold wallets, and so on.Or store ANT directly on supported exchanges.

At which exchange can ANT tokens be purchased?

Currently, you can buy ANT tokens on a number of exchanges, such as Binance, Bitget, Currency,…

Aragon Network DAO

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Aragon was launched as a centralized project with Aragon One as the main team for a few years until the end of 2021. The launch of the Aragon Network (AN) DAO marks the beginning of Aragon’s progressive decentralization. AN DAO consists of several sub-DAOs with the following responsibilities:

  • Main: The meeting place for all ANT holders, where they can propose and vote on treasury decisions.
  • Executive: The group chosen to direct the overall DAO strategy.
  • Compliance: Elected group focused on protecting the DAO.
  • Tech Committee: An elected group that is responsible for testing and maintaining the codebase.
  • Aragon Court: Court is an Aragon product used to resolve disputes in the proposal process.

The AN DAO is symbolic of the hierarchical structure of most DAOs in which elected committees are given autonomy to make executive decisions related to their expertise, such as the sub-DAOs that follow. Currently, AN DAO is not in any legal structure.

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