The Aragon project, launched in 2016 is envisioned as a way to offer users the tools needed to build a decentralized organization. These organizations would be secured cryptographically and run natively on top of the ethereum blockchain.
The project has been in action since its launch. But at the start of February of this year, the core developers have expressed their interest in deploying a version of the App on the Polkadot blockchain network. Soon the token holders for the Aragon application will be putting the efficacy of its on-chain governance model to test.
At the time of the announcement, Luis Cuende, CEO, AragonOne which is a for-profit entity building Aragon said that the idea was indeed very early research and did not indicate any intention to move away from launching the product on the ethereum blockchain.
But now the token holders will have to take a decision between two competing Aragon Governance Proposals (AGPs) that will effectively approve or restrict such plans to build the application outside of ethereum. The voting for the same has been decided to begin on 25th April and will last for 48 hours. The results for the same will be announced on April 27 at 16:00 UTC.
Ameen soleimani, CEO, adult entertainment blockchain platform Spankchain Ameen Soleimani dubbed the AGP 42 proposal as “Keep Aragon Focused on Ethereum, not Polkadot.” Soleimani’s pitch proposes “to restrict Aragon from spending money on Polkadot development in any way, shape or form” and posits that many Aragon token holders “are significant stakeholders in the ethereum ecosystem” who wish to see Aragon remain strictly focused on ethereum.
In converse to this, AGP 41, submitted by the Web3Foundation would approve the non-profit entity holding all of Aragon’s development funds – known as the Aragon Association – to hedge up to $1.5 million in native Polkadot tokens calls DOTs. It was submitted on the exact same day as Soleimani’s proposal.
The proposal reads, “The Aragon Association is seeking the signaling by the community for the approval of closer engagement in technology collaboration and parachain development, as well as in purchasing DOTs to diversify its crypto assets.”
Currently, the company holds approximately, $37 million in crypto and fiat currency of which $33 million is in ether. There are a number of factors that the token holders will have to consider before casting their votes, will be it AGP42 or AGP41 is entirely in the hands of the token holders. This decision would change a lot many things in the future.