Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the long run route of the group.

The Aragon Affiliation, a Switzerland-based group that oversees the administration of Aragon, stated in a Might 9 tweet thait exercised its “fiduciary obligation” to safe its treasury and general mission by “repurposing the Aragon DAO as a part of a brand new grants program.”

The choice was made after the just lately launched Aragon DAO suffered a 51% attack by the hands of a bunch known as the “Danger Free Worth (RFV) Raiders,” who had been in search of to control using ANT as a way to attain monetary acquire.

According to a weblog submit from Aragon, the RFV Raiders are linked to the latest assault and liquidation of Rook DAO, which occurred in early April. Aragon alleges that the Raiders are activist buyers from the asset administration agency Arca Capital Administration who refer to themselves because the “vultures of crypto.”

The weblog submit shed additional mild on the controversial choice:

“The Aragon treasury was established with the specific mission of supporting builders to advance decentralized governance infrastructure.”

Aragon defined that due to Swiss laws that mandate its use for these said ends, its fiduciary obligation compels it to “safe these funds from these in search of to entry them for their very own monetary good points.”

“There may be clear proof that the entities concerned in Aragon’s assault are pursuing that finish.”

A Might 9 Twitter thread detailing the present standing of the Aragon DAO defined that Aragon transferred an preliminary fee of 300,000 USD Coin (USDC) to the Aragon Grants DAO. Aragon claims the funds presently held by the DAO will stay on-chain and are to be ruled by wrapped ANT (wANT) holders.

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On Might 2, Arca Capital penned an open letter responding to an earlier disagreement that noticed numerous stakeholders barred from Aragon’s Discord, which supplied a partial clarification for the latest 51% “assault.”

Arca claimed that it was “essential to permit token holders to search out inventive options to return worth to the token whereas concurrently permitting Aragon to proceed constructing vital DAO public items,” noting that this might not start till the “treasury switch is additional alongside.”

Aragon’s choice to repurpose its DAO comes simply over a month after the team announced further collaboration with the favored Ethereum scaling group Polygon Labs.

The value of Aragon’s native ANT token stumbled a contact over 4%, going from $2.95 to $2.83, following the replace. On the time of publication, the worth of ANT is up 2% within the final 24 hours, in response to CoinGecko data.

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