The price Aragon today is 4.33 USD, and the trading volume in 24 hours - 15,596,162 USD. The crypto asset has grown by -8.04% over the day. Currently, the coin’s market capitalization is 171,567,302 USD, and has 39,609,523 coins in circulation with the max supply of 106,285,390 coins ANT.
What is Aragon (ANT)?
The Aragon Network (ANT) is a decentralized autonomous organization (DAO) that aims to act as a "digital jurisdiction" and enable organizations, entrepreneurs, and investors to conduct business without a legal connection.
Aragon was founded in 2016 and allows users to manage organizations using blockchain technology in order to create more efficient infrastructures. The network is a "digital jurisdiction" governed by stakeholders who can vote to create or change laws included in the network's" constitution". The network is supported by fees that are charged to organizations and distributed based on the basic management model.
The Aragon core platform provides contracts that enable decentralized organizations to operate, as well as contract renewal services and error reward mechanisms. A decentralized "court" of the network can solve problems between organizations that use the aragonOS smart contract infrastructure as a management system.
What is unique about Aragon?
The Aragon "court" serves as the basis for the decentralized management of the system. The Court operates on three different levels. First, the network appoints five random judges who must stake ANT tokens for voting and dispute resolution. The judging process is organized as a prediction market, where judges are encouraged to make correct bets on which side is right or wrong in the dispute. Dissenting (minority) judges lose their fixed rates, which are paid to the winning judges.
The plaintiff in the disputes must also place a share of the tokens. If they lose, they can give up part of their share or double the bet and appeal, increasing the bail. This makes the case open to the entire network of judges, and the voting process is repeated.
If the plaintiff still does not agree with the outcome of the network-wide trial, he can increase his bail again and appeal to the network's Supreme Court, which is governed by the nine best judges in the network, measured by the reputation earned through a combination of the bid and the accuracy of the previous forecast.
By enabling anyone in the world to digitally organize, Aragon aims to enable the creation and management of entities without borders and without permission.
How many ANT tokens are in circulation?
The project conducted a pre-sale, during which 2,719 ETH was collected.
This allowed the company to finance the necessary developments and operations to make a public sale possible. The proceeds from the pre-sale sale were distributed as follows:
- 50 ETH for security audit,
- 208 ETH for legal expenses,
- 07 ETH on public relations,
- 134 ETH for advertising,
- 212 ETH to the Ethereum Name Service,
- 15 ETH for other expenses.
The public sale ended on May 17, 2017, when 275,000 ETH was raised (approximately $ 25 million at that time) at a rate of 100 ANT per ETH.
As of January 2021, the network's total supply was 39.6 million ANT. Aragon said the overall offer will only be permanent until the network is rolled out. From now on, the management of the network will determine monetary policy and the level of inflation in the future.
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