- Aragon responded with a coordinated 51% assault on his DAO.
- Because of this assault, Aragon repurposed the Aragon DAO.
- Aragon’s transfer was criticized by outstanding businessmen.
The Affiliation of Aragon made an advert on Tuesday that it determined to cancel its earlier plans for broad voting rights granted to holders of its ANT token.
These voting rights included numerous facets equivalent to strategic management and 200 million. USD treasury management. This growth vastly impedes the Ethereum startup’s transition to a decentralized autonomous group, which has been the corporate’s major aim.
The choice to revoke voting rights was prompted by a current incident the place the newly fashioned Aragon DAO fell sufferer to a 51% assault. The assault was carried out by a bunch referred to as Threat Free Worth (RFV) Raiders. The aim of their assault was to govern the usage of ANT tokens for private monetary achieve.
RFV Raiders and Arca are answerable for taking down Rook DAO, Invictus DAO, Fei Protocol, Rome DAO and Temple DAO.
One of many members was additionally jailed for his involvement within the Mango DAO exploit.
The transfer has led some entrepreneurs to speak in regards to the immaturity of cryptocurrencies, with some even suggesting alternate options. DACM CEO Richard Galvin mentioned he’s very enthusiastic about these fights. He identified that conventional raids and related contentious transactions are often tightly regulated and litigated underneath established authorized methods. Quite the opposite, he additionally said that the cryptocurrency trade is taken into account the least legally mature asset class.
One other Robotic Ventures investor, Leshner, supplied an alternate. Leshner mentioned that if builders need easy on-chain management, they will use a composite management system. It is free, battle-tested, he says, and likewise permits token holders to implement code modifications immediately.
This transfer could not have been welcomed by the cryptocurrency group. Some customers have expressed displeasure with the modifications. One person who known as monetsupply.eth mentioned he was upset with the motion. He additionally known as the motion “nothing however embezzlement.” One different person additionally requested the place this determination was voted on.
