Aragon Association, a Switzerland-based blockchain platform for supporting decentralized organizations, has announced its plans to dissolve and distribute more than $155 million worth of Ethereum (ETH) tokens to token holders. The news was reported by the official announcement on the Aragon website.
According to the announcement, the Aragon Association will be dissolved on August 24th, 2020, and the process of distributing the $155 million worth of ETH held by the Association to token holders will begin immediately thereafter. The tokens are being distributed in proportion to the amount held by each account, and the process is expected to take two weeks to complete.
Aragon Association has been around since 2017, and was founded to serve as a platform for decentralized organizations and the development of distributed technology. It has supported the development of tools and services for decentralized organizations on Ethereum.
The team states that this distribution of ETH is being done to ensure that the work that has been done by the Aragon Association is fully rewarded, and the funds can be used to “build a more decentralized world,” suggesting that the funds are going to projects that will promote the decentralized development of Ethereum.
The team also states that this is a “once in a lifetime opportunity” for cryptocurrency holders, and encourages them to take advantage of the distribution while it is available.