Aragon is launching the next phase of its decentralised network after it reached $350 million in assets under management.
Aragon is a platform designed for building and running decentralised autonomous organisation (DAOs), with it rising in popularity this year alongside the wave of optimism surrounding DeFi.
Under the newly-released governance roadmap, ANT holders will be given more powers in the running of the Aragon Network, creating a fully decentralised and autonomous jurisdiction.
The initial phase, which has been dubbed Phoenix, will commence in the coming weeks and will feature the transitioning of executive powers over Aragon Court from the interim council to ANT holders themselves.
“It has been almost four years of hard work in getting the network to this stage. Today, we couldn’t be more excited to announce the next phases of our governance model, in becoming a truly decentralised and autonomous organization governed by and between ANT holders.
🔥🦅👀 pic.twitter.com/4iQOCpI5vI
— Aragon 🦅 (@AragonProject) August 18, 2020
“This next phase of the Aragon DAO governance will be an important milestone in empowering the whole Aragon community to rally around a common mission.” Said Luis Cuende, Founder and Executive Director of Aragon Association.
Following the implementation of the Phoenix phase, ANT holders will have a host of responsibilities; primarily being the ability to enact and amend the Aragon Network agreement. Other governance responsibilities that will fall to ANT holders under the transition will include amending the governance framework of the Aragon DAO and its parameters, governing the workings of the Aragon Court, and governing the network funding pool.
Following the Phoenix phase, the network will transition to the Firebird phase which is aimed at making the network financially sustainable. Leading up to the Firebird implementation, the community will be conducting multiple fund allocation experiments, to determine Firebird’s implementation.
“The next phase of our governance collaboration under Phoenix and Firebird will ensure the most groundbreaking governance models that will enable the whole Aragon community to rally around a common mission.” Added Cuende.
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