Aragon announces token sale

Decentralized company management platform Aragon announced its upcoming token sale will run from May 17 through June 14.

Aragon was developed to disinter mediate the creation and maintenance of companies worldwide. It is built on Ethereum and only requires the internet to function.

“After the dot-com revolution and the rise of cloud computing, a new type of company has begun to emerge: businesses without traditional corporeal and geographic forms,” Aragon cofounder and project lead Luis Cuende said. “The catalyst has been blockchain technology changing the incentive structure for companies. Aragon is building the tools for this next generation of decentralized organizations.”

Aragon provides a means for establishing governance mechanisms for decentralized companies by offering cap table management, governance, fundraising, payroll and accounting. Mr. Cuende said further functionality can be built on the Aragon Core.

There is no cap on the number of Aragon Network Tokens which can be sold during the sale. Funds raised are earmarked toward building the core and network.

Following the sale a community members multisig of influential blockchain community members will deploy the Aragon Network once it is deemed safe to do so. The target deployment date is May 2018.

Mr. Cuende started his first free software project when he was 12. A former advisor to the European Commission VP, he was featured on Forbes’ 30 Under 30 and cofounded Stampery, a blockchain data certification startup backed by Draper Associates.

Mr. Cuende’s partner Jorge Izquierdo was awarded a WWDC scholarship by Apple at 15 and saw Showy, an app he developed at 16, reach number two in the Spanish App Store charts.

In two months the number of Aragon organizations deployed to the testnet has grown from 130 to more than 770.

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