The governing body for the aragonOS software, known as the Aragon Association (AA), will dissolve and distribute its assets to token holders. The AA will distribute 86,343 Ether (ETH) from its treasury, worth approximately $155 million, to token holders as it winds down. The funds will be distributed through a smart contract on the Ethereum network, with each Aragon (ANT) token holder receiving 0.0025376 ETH per ANT they send into the redemption contract. After all redemptions are made, the AA will burn all ANT held in the contract and dissolve. $11 million from the treasury will be transferred to the Aragon Shield Foundation to cover obligations and mitigate regulatory uncertainty. The team will reorganize as a “company” and continue developing Aragon products, with a Product Council created to guide product development decisions. The AA cited bureaucratic complexity, misaligned stakeholders, and failed attempts at modifying governance as reasons for its dissolution. In May, a group called “Risk Free Value Raiders” attempted to take control of the Aragon treasury, prompting the AA to scrap plans to transfer power to token holders.
