According to the latest news, venture capitalist Tim Draper bought 1 million ANT tokens worth about $ 823,000 to join the management structure of the Aragon network.
Draper’s Investment Purpose
Aragon is an open source software project designed to manage decentralized autonomous organizations (DAO). Draper, who bought 1 million ANT tokens according to Wednesday's press release, now holds about 2.5% of the total token supply.
In addition, Aragon Associate general manager Luis Cuende said in a statement to CoinDesk that Draper's decision “will support the last launch of Aragon Court and the direction of Aragon's management as in Bitcoin”. Cuende announced that Draper is also a member of Aragon's advisory board.
Aragon Project
Launched in February 2017, the Aragon project offers DAOs a platform to manage their market value tables, entitlements, payments, voting, statutes, fundraising and identity features. According to the company's official blog post, there are now over 1,000 DAOs created under management of around $ 8 million.
On February 10, 2020, Aragon Court, a digital judicial protocol, was officially launched to reduce disputes for DAOs. The platform hires jury members to reward and punish conflicts to motivate them to review conflicts and to judge good judgment. Any ecosystem member with more than 1000 ANT tokens and now on a list including Draper can join Aragon Court.
