Swiss startup Aragon claimed that 51 percent of investors, including Arca, staged the attack.
The Aragon Association on Tuesday canceled plans for ANT token holders to exercise broad voting powers over everything from strategic direction to a $200 million treasury.
Aragon Made Statements By Canceling Control Of The $200 Million Treasury
Aragon has dealt a blow to the evolution of the DAO-focused Ethereum startup into a decentralized autonomous organization by canceling ANT token holders’ plans to strategically use broad voting powers on everything from a $200 million treasury.
The Association, a Swiss organization that oversees Aragon, made statements after being attacked by 51 percent of investors:
“Aragon fulfilled its fiduciary duty to secure its treasury and mission by redesigning the DAO as part of a new grant program.”
He also added to his descriptions:
“The Aragonese treasury was established with the clear mission of supporting builders to advance decentralized governance infrastructure. Based on Swiss regulations mandating that Aragon’s treasury be used for its stated social purpose, the fiduciary duty compels the Aragon Society to protect these funds from those who wish to access them for their own financial gain. There is clear evidence that the entities involved in Aragon’s attack pursue this goal.”
