Aragon is an Ethereum-based protocol that allows users to easily create and manage DAOs, or decentralized autonomous organizations.
The Aragon Network aims to make it easier for users to launch organizations that employ a decentralized approach to governance, which can reduce reliance on hierarchical methods of management and enforce a more equitable distribution of influence among participants within the organization.
What is Aragon (ANT)?
ANT is the native token of the Aragon Network. As an ERC-20 governance token, network participants use ANT to vote on proposals, apply for a chance to serve as a Guardian on Aragon Court disputes, and shape the future of the DAO.
What is Aragon Court?
For disputes that are difficult to settle, typically revolving around subjective disputes, the Aragon Network allows participants to escalate cases to the Aragon Court, a dispute resolution protocol. Participants who stake greater amounts of ANT as collateral have a higher chance of becoming an Aragon Court juror, officially known as a Guardian. Guardians are incentivized to vote for correct outcomes, as rewards are given to guardians who submitted votes that aligned with the majority’s voting decision. Those who voted against the final outcome will lose the tokens they put up as collateral.
What is a Decentralized Autonomous Organization (DAO)?
DAOs maintain a decentralized approach to governance by allowing network participants to vote on key governance decisions, submit new proposals, amend existing proposals, and more. The organization itself is self-managed by smart contracts, which enforce actions like voting and governance procedures based upon a set of rules that are collectively agreed upon. Due to their decentralized structure, DAOs have the potential to make decisions and settle disputes more efficiently.
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