Tim Draper Purchases 2.5% of Aragon Tokens, Gets to be Governance Whale


Venture capitalist Tim Draper has taken a 1 million ANT stake (really worth about $760,000 at press time) in Aragon, a decentralized governance task that started on ethereum. 

The move, disclosed in a press release Wednesday, presents Draper manage of about 2.5 p.c of Aragon’s total token source. Draper is a long-time crypto evangelist and serial task backer.

The Switzerland-dependent Aragon Association is trying to construct a digital judicial technique for decentralized autonomous corporations (DAOs) and its very own Aragon community. Any ANT holder with 1,000 tokens can take part in “Aragon Court docket,” which went into session for the initial time on Feb. 10 with a controversial mock demo of ethereum typical dev Yaz Khoury.

Aragon Association Govt Director Luis Cuende said Draper came on board following observing the Aragon courtroom go reside. 

“I believe the new launch of Aragon Court docket and the realization that Aragon can be to governance what bitcoin (BTC) is to money” prompted Draper to be part of, Cuende said.

Draper did not instantly reply to requests for remark.

Draper’s eponymous VC business experienced formerly invested in Cuende’s email immutability startup Stampery. Cuende said that marriage helped Draper get concerned Aragon.

Draper will also sit on Aragon’s advisory board, in accordance to Cuende.

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