Venture capitalist Tim Draper has bought 1 million ANT tokens, an amount worth approximately $823,000, to join the governance structure of Aragon.
Aragorn is an open-source software project for managing decentralized autonomous organizations (DAOs). According to a Wednesday press release, with a purchase of 1 million ANT tokens, Draper now holds control of around 2.5% of the total token supply.
Luis Cuende, executive director at Aragon Associate, told CoinDesk that Draper’s decision was prompted by “the recent launch of Aragon Court and the realization that Aragon can be to governance what bitcoin is to money.” Cuende revealed that Draper is also becoming a member of Aragon’s advisory board. Read More