It has been a tough week for Aragon’s governance platform, where philosophical differences have led to a long list of layoffs.
Aragon co-founder Jorge Izquierdo announced on January 11, he would no longer serve as CEO of the profitable Aragon One, a company dedicated to building tools and services related to Aragon.
Aragon is an Ethereum-based platform dealing with decentralized governance.
Today I resigned as CEO of Aragon One.
Leading this team has been the privilege and adventure of a lifetime and I am extremely proud of what we have achieved.
I feel pretty sad that it has come to this, but given the circumstances that follow, I don’t think I can continue to do my job properly.
– Jorge Izquierdo (@ izqui9) January 11, 2021
Izquierdo cited are differences with decisions taken by the project’s governing body, the Aragon Association, as a reason for leaving the project, of which he has been a part since 2015.
Sorry to hear it, Jorge. Unfortunately, another example of a governance start-up with dysfunctional governance. Yes, I essentially subtweet the entire DAO sector.
– Richard D. Bartlett (@RichDecibels) January 13, 2021
A week before Izquierdo’s departure, John Light was the head of Governance of the Aragon Association announced his resignation, stating that he felt the project no longer reflected his values or those of the original Aragon Manifesto.
To increase transparency and improve as an organization, Light suggested that members of the association “publish all minutes and financial data for public review” in the future.
Inspired by Light’s actions and agreeing with the sentiments expressed in his letter, 11 Aragon One employees stop the company the following days, publicly offering their resignation to the project official Disagreement channel.
After questions were raised about a 52,000 ETH transfer from the Aragon treasury in the project’s Discord chat, Joe Chatsworth, head of the Aragon Association’s operation, stepped in to issue a statement to allay fears to assume that the project was losing its transparency. According to Chatsworth, the ETH was sold to help “provide enough runway in stable assets to withstand significant market declines.”
While insiders are silent on the topic, Izquierdo and Light have provided subtle hints indicating that they feel Aragon is becoming too centralized. In Izquierdo’s last letter referring to the ongoing debate over major technical censorship to the Aragon Association, likened preserving Internet neutrality to a major battle:
“I believe that stopping the trend of major Internet infrastructure owned by a few companies is the struggle of our generation, similar to the struggle of the last century to eradicate fascism from Europe.”
In October, co-founder Luis Cuende laid that up with CoinTelegraph Aragon can potentially be used to troubleshoot social media moderation issuesbecause it provides a framework for a virtual court where participants use cryptocurrency to file a claim that is assessed by a decentralized jury.
May 2018 token sale for Aragon, famous increased $ 25 million in ETH in 26 minutes, which was the fourth largest crowdfunding event in history at the time. According to statistics trackers on DeepDAO, seven of the 10 largest DAOs based on USD value use Aragon as their platform. The Aragon platform also supports popular DeFi projects such as AAVE, Curve and mStable.
The price of ANT, the Aragon Network Token, is down 8% in the past seven days.