The Aragon Foundation withdrew its plans to give ANT holders voting rights over the DAO following the attack.
Aragon, an open-source project designed to launch decentralized autonomous organizations (DAOs), has canceled plans to give ANT token holders a vote on the future direction of the organization. By redesigning the Aragon DAO as part of a new grant program, the Switzerland-based Aragon Foundation, which oversees Aragon’s administration, said it is fulfilling its fiduciary duty to secure its treasury and its overall mission.
Aragon: Attackers Linked to Rook DAO Attack
The Aragon Foundation made this decision after a recent attack by a group called Risk-Free Value Raiders, which sought to manipulate the use of ANT by the Aragon DAO as a tool for financial gain.
According to Aragon’s blog post, the RFV Raiders are linked to the Rook DAO attack that occurred in early April. Aragon claims the raiders are activist investors of asset management firm Arca Capital Management, who call themselves crypto vultures.
A blog post shared by the company said: “The Aragonese treasury was established with the clear mission of supporting developers to grow decentralized governance infrastructure.”
Clarifying Aragon’s current situation, a May 9 Twitter post announced that Aragon has transferred the first payment of 300,000 USD to Aragon Grants DAO. Aragon claims that funds currently held by the DAO will remain on-chain and be managed by wrapped ANT (wANT) holders.
Arca Capital made a partial statement about the 51 percent attack. Arca claimed in a statement that it was necessary to allow token holders to find creative solutions to add value to the token, while also allowing Aragon to continue to build important DAO public goods.
The decision to reuse Aragon’s DAO was made after the team announced that it would further collaborate with popular Ethereum scaling organization Polygon Labs.
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