Aragon or ANT is a decentralized platform based on the Ethereum blockchain. Aragon provides a modularized way to found and manage decentralized applications, crypto protocols, and decentralized autonomous organizations (DAO). DAO is software on a blockchain. It provides users with a built-in model for managing its code collectively.
In 2016, Luis Cuende and Jorge Izquierdo, who launched the company's building services such as Aragon Association and Aragon One, founded the Aragon network. Luis Cuende was one of the 'Forbes 30 under 30' in the Technology category. In May 2017, the network had an ICO and raised 275,000 ETH (around 25 million US dollars at the time) within 15 minutes. The project was publicly launched on the Ethereum blockchain in 2018.
The network offers three types of services:
- Aragon client enables developers to create customizable online organizations which focus on more transparent group participation.
- Aragon Network is an organization that maintains the interactions between the community of DAOs built on the platform.
- Aragon Association is a non-profit organization that controls and distributes the funds received from the sale of the ANT token.
The platform has the ERC-20 token ANT. Using the token, its holder can govern the Aragon Network, voting about the project's future. ANT is used to manage the DAOs based on the Aragon platform.
Holders of the network's native token ANT can decide on the future of the Aragon ecosystem. You can also use ANT to purchase ANJ coins used to participate in the resolution services provided by Aragon Court. The Court is a service that allows users to solve issues within organizations based on the network that smart contracts can't settle.
However, you can benefit from the ANT token even without holding it. As the cryptocurrency is highly volatile and its value isn't expected to skyrocket, you can trade the ANT/USD pair via a contract-for-difference instrument. When trading ANT to USD, you can open a position regardless of the price direction.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
