According to Foresight News, the Aragon DAO community has passed two votes in support of suing its founding team and allocating 300,000 USDC for the legal action. The votes were in response to the Aragon Association's decision to dissolve itself through an ETH redemption and terminate its governance token ANT. The 300,000 USDC will be used by Patagon Management LLC to take legal action and negotiate with the Aragon team. Following the vote, the 300,000 USDC will be sent to Patagon's wallet.
The proposal states that others will also be able to help fund the lawsuit, and if successful, they will recover their funds and receive 10% interest annually. They will also share 5% of the total funds and return it to token holders. If the case is lost, they will not receive compensation. The lawsuit will be overseen by a supervisory committee consisting of representatives from investment firm Arca, cryptocurrency trader DCF God, and other individuals using the aliases Wismerhill, Tedward, CM, Triangle, and Yakitori.
