Enterprise capitalist Tim Draper has taken a 1 million ANT stake (value about $760,000 at press time) in Aragon, a decentralized governance undertaking that started on ethereum.
The transfer, disclosed in a press launch Wednesday, offers Draper management of about 2.5 % of Aragon’s complete token provide. Draper is a long-time crypto evangelist and serial undertaking backer.
The Switzerland-based Aragon Affiliation is trying to construct a digital judicial system for decentralized autonomous organizations (DAOs) and its personal Aragon community. Any ANT holder with 1,000 tokens can take part in “Aragon Court docket,” which went into session for the primary time on Feb. 10 with a controversial mock trial of ethereum traditional dev Yaz Khoury.
Aragon Affiliation Government Director Luis Cuende mentioned Draper got here on board after seeing the Aragon court docket go dwell.
“I feel the current launch of Aragon Court docket and the conclusion that Aragon may be to governance what bitcoin (BTC) is to cash” prompted Draper to affix, Cuende mentioned.
Draper didn’t instantly reply to requests for remark.
Draper’s eponymous VC agency had beforehand invested in Cuende’s e mail immutability startup Stampery. Cuende mentioned that relationship helped Draper get entangled Aragon.
Draper will even sit on Aragon’s advisory board, in keeping with Cuende.
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