Hi entrepreneurs, Dean (@deanliu) and Dan (@tradealert) are back and today we’re showing you how to create and manage your very own decentralized organisation with Aragon.
Aragon.
I- Executive Summary.
Aragon is a dApp on the Ethereum network that allows anybody to create and manage a general-purpose decentralized autonomous organisation (DAO). Each Aragon DAO is technically a collection of interconnected Ethereum smart contracts packaged into one sleek user interface. Although the project is still in development, basic DAOs come equipped with a solid suite of basic functions such as token emissions, voting and finance management which we will go over in details in the second section of this article.
The grand vision behind Aragon is to create an entire network of decentralized organizations ruled by a decentralized court system to create a transparent and censorship-resistant new economy on the blockchain. The Aragon network possess is own native token (ANT) which will be used to decentralize the government of the protocol in the future but aren’t required to deploy nor manage your own DAO at this time.
Aragon DAOs currently come in two different flavors:
- General purpose tokenized democracies;
- Business oriented multi-signature organizations.
Since the DAO hack, autonomous organizations have somewhat faded into the background and their general-purpose nature makes it somewhat difficult to lay out their benefits to new users but today we would like to focus on giving you an overview on how to deploy a multi-signature organization and propose one use case which hopefully might inspire you to start your own project on the platform.
We will discuss the more technical stuff for subsequent articles once the project develops and also once we gain in familiarity with the platform and its functions.
So let’s get into it.
II- How to deploy a Multi-Signature (Multi-Sig) organization.
Our project started with the need to pool tokens in order to run a node on a third-party Ethereum-based network. Multi-Sig DAOs not only allow you to securely store the tokens needed to run a node into a multi-sig smart contract but also to create a decentralized “bank account” where the rewards can be pooled then sent out to individual investors according to their stake in the investment.
Let’s break this down.
Step-by-step guide:
Go to Aragon.one and open the Rikeby Testnet on Metamask, make sure your Rinkeby wallet has got some ETH in it, you can request some from this faucet:
Then click on the “Try Aragon Core 0.5” Icon:
… and create a new organization, ours is a Token Project with Multisig:
- Now you can claim your own testnet domain:
…and assign as many co-signers as you want:
- Next, name your DAO governance tokens and assign a ticker symbol to them:
- Finally deploy your unstoppable organization and tokens on the testnet by signing a couple of transactions:
- Shazam! You’re now the proud owner of your very own (testnet) DAO.
- Once the real app goes live on the main-net you’ll be able to fund your DAO with tokens by going into Settings and sending ERC-20 tokens to it, sending real tokens to a testnet DAO now will only result in the loss of your tokens, you’ve been warned!
- Your tokens will appear in the Finance Tab, together with a tool to implement automatic payments, it’ really neat:
- Finally you’ll be able to manage the government of your DAO from the Voting app and create polls for your community to vote on:
And that’s it! You’re now part of the decentralized governance revolution.
Aragon surely is an ambitious project with a grand vision to reinvent governance at every level of society. What’s more, its general-purpose design can be disarming at first but the tools the dApp offers are just as well suited for micro projects, community building and investment management on the blockchain. That’s why we strongly encourage you to go check out Aragon for yourself so you can experience first-hand the power of its smart contract and start the governance revolution at your scale.
Dan & Dean.
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