Aragon Association to dissolve, will disburse $155M in assets to token holders By Cointelegraph
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The governing body for the aragonOS software will dissolve, distributing most of its assets to token holders in the process, according to a Nov. 2 blog post. The body, called the Aragon Association (AA), will distribute 86,343 Ether (ETH), approximately $155 million at the current price, from its treasury to token holders as it unwinds.
The funds will be distributed through a smart contract on the network. Each Aragon (ANT) token holder will receive 0.0025376 ETH ($4.57 at the current price) per ANT they send into the redemption contract. After all redemptions have been made, the body will burn all ANT held in the contract and dissolve. ANT will no longer have utility after this point, the post stated.
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The governing body for the aragonOS software will dissolve, distributing most of its assets to token holders in the process, according to a Nov. 2 blog post. The body, called the Aragon Association (AA), will distribute 86,343 Ether (ETH), approximately $155 million at the current price, from its treasury to token holders as it unwinds.
The funds will be distributed through a smart contract on the network. Each Aragon (ANT) token holder will receive 0.0025376 ETH ($4.57 at the current price) per ANT they send into the redemption contract. After all redemptions have been made, the body will burn all ANT held in the contract and dissolve. ANT will no longer have utility after this point, the post stated.
Continue Reading on Cointelegraph
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