One of the most used open-source frameworks for creating DAOs (decentralized autonomous organizations), Aragon, announced Thursday plans to launch its new toolkit on Polygon, an Ethereum layer-2 network.
Aragon rolled out the new toolkit for building DAOs in March. It features the modular Aragon App and Aragon OSX protocol. It is worth highlighting that it does not require coding skills, thus reducing technical barriers and letting users effortlessly design essential DAO functionality like casting governance votes, onboarding new members, and creating proposals.
Anthony Leutenegger, Aragon’s head of growth, believes that the firm’s new toolkit will revolutionize the creation of DAOs. He also says this technology will enable people living in developing countries to easily organize themselves, create a DAO without coding and manage it at a relatively low cost.
Leutenegger claims that most of the DAOs available today are required to use multiple platforms and protocols in order to fulfill their governance needs. He says this is one of the many problems the new toolkit has addressed.
What DAOs Stand to Benefit From Aragon’s Polygon-Based Toolkit
Launching the toolkit on Polygon comes with several advantages. One of the notable benefits is that the network provides faster and cheaper transactions than the underlying blockchain, Ethereum.
In a statement, Polygon Labs co-founder Sandeep Nailwal said he was pleased that a vital project in the blockchain industry and a top DAO provider, Aragon, has chosen Polygon as the host of its new tech stack, which aims to make on-chain governance more accessible to all around the globe.
Polygon scalability features have helped the network gain popularity among protocols that process multiple transactions. Notable Web3 projects using Polygon include Lens and gaming DAO Aavegotchi. The former is a protocol for developing decentralized social media networks, while the latter uses the network to mint its non-fungible tokens (NFTs) as well as fuel its metaverse.
Besides improved speeds, DAOs created using the new Aragon toolkit will benefit from the low cost of executing governance proposals and voting. Aragon stated that the current high cost of voting discourages many community members from participating. Therefore, the firm expects the cheap transactions offered by Polygon will encourage governance token holders to vote on important issues that affect their respective DAOs.
Aragon to Continue Developing Its Product
Aragon released its roadmap last month, highlighting plans to develop the new toolkit further. Some of the developments include using smart contract composer to add more functionality to Aragon App, thus providing additional custom functionality through the firm’s software Development Kit. Aragon expects this will make the protocol a preferred destination for decentralized applications.
Further, Aragon plans to include functionality that enables users to transfer their existing tokens to different chains when the protocol expands to other networks.
Chief Technology Officer Carlos Juarez disclosed that Aragon is keeping a closer eye on zkEVM, another Ethereum scaling solution that has grown in popularity recently.