Upcoming Token Sale for Decentralized Company Management Platform
Decentralized management platform for companies, Aragon has announced its upcoming token sale, which will commence on May 17th, 2017 and run until June 14th, 2017. Built on Ethereum, Aragon designed to disintermediate the creation and maintenance of companies worldwide, offering a more efficient model for companies to operate and requires only Internet access to function.
Co-Founder and Project Lead at Aragon, Luis Cuende, said: “After the dot-com revolution and the rise of cloud computing, a new type of company has begun to emerge: businesses without traditional corporeal and geographic forms. The catalyst has been blockchain technology changing the incentive structure for companies. Aragon is building the tools for this next generation of decentralized organizations. With Aragon Core, a minimally-specified organization will be able to run on the Ethereum network. A Module system will then be implemented so further functionality can be built on top. Fully decentralized organizations will also be able to take advantage of the Aragon Network, a token-governed digital jurisdiction, to resolve core governance issues and increase efficiency,”
Aragon implements basic features such as cap table management, governance, fundraising, payroll, and accounting, supporting all areas of company management through a simple interface. The Aragon Network will act as a digital jurisdiction to make it simple for organizations, entrepreneurs, and investors to operate. Organizations in the Aragon Network will be established on Aragon Core, a decentralized autonomous organization framework, and a web-based decentralized app. The mission of the network will be the development of the Aragon Core contracts, contract upgradability services for all Aragon Core contracts with a built-in bug bounty mechanism, and a decentralized court system.
To kick-start the network, an uncapped number of tokens will be sold during Aragon’s month-long token sale. All funds raised from this initial sale, in the form of Aragon Network Tokens – ANT – will be used to continue building the Core and to build the Network. Following the sale, a Community members multisig, comprised of multiple influential people from the blockchain community, will deploy the Aragon Network once it is secure to do so. This is scheduled for around May 2018. At that time, the network will initiate and governance decisions will begin to be made autonomously by ANT token holders.
Cuende added: “In 2016 we saw the rise in token sales and already in 2017 we are seeing that this trend is very much continuing. As a team we are dedicated and committed to the long term success of the project. Therefore, the Aragon token sale will be one of the first to restrict Founder and early contributor rewards with token which vest using smart contracts. Building an organization with Aragon has many advantages over present-day solutions. It’s our aim to showcase the cost efficiency and transparency of our platform and help drive the movement toward decentralized organizations,”
The founders of Aragon were recognized as tech prodigies from an early age. In 2008 at age 12, Cuende started his first free software project, a Linux-based operating system. At 15 years old, HackFwd named him ‘Best Underage European Programmer’. Cuende has been featured on Forbes’ 30 Under 30 list, is a MIT TR35, and was a former Advisor to the VP of the European Commission. Most recently, Cuende co-founded Stampery, a blockchain data certification start-up backed by venture capital firm Draper Associates, investors in companies such as Tesla, SpaceX, Skype and Baidu.
Cuende’s partner, Aragon Co-Founder and Tech Lead, Jorge Izquierdo, is the creator of multiple applications for iOS, macOS and Pebble. At 15, he was awarded a WWDC scholarship by Apple as one of the most promising young app developers. One year later, Izquierdo reached number 2 in the Spanish App Store charts with Showy.
Since February the number of Aragon organizations deployed to the testnet has grown from 130 to over 770. In addition, the Aragon Slack channel now comprises over 510 community members. The platform is available for Linux, MacOS, Windows and web browsers.