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The foundation council will feature established builders from the Ethereum community, including Polygon Co-founder Sandeep and Sacha from Lido.

Aragon, a platform for building and managing Decentralized Autonomous Organizations (DAOs), is creating the Aragon Foundation, a new governing body that aims to help the project move past a tumultuous phase and further its development.

The Aragon Foundation will be led by a so-called Strategic Council, a group of high-profile Ethereum community members who are tasked with formulating strategies, allocating funds, advising the Aragon team and fostering developers. Memebers of the council include Polygon co-founder Sandeep Nailwal, and Sacha, one of the leading researchers in the Lido ecosystem.

In November 2023, the Aragon Association, which was an entity overseeing the Aragon DAO, announced its motion to dissolve the entity and enable user redemptions of its native token ANT.

The Aragon Foundation will inherit funds left over from the legacy Aragon Treasury that are not redeemed by the ANT Redemption Initiative, which is set to end on Nov. 2. The ANT token is up roughly 35% since the initiative was announced and currently trades at a $280 million fully-diluted valuation.

As of Oct 28, 82.5% of the outstanding supply had been redeemed for ETH.

ANT Price - CoinGeckoThe Aragon Foundation will operate as an ownerless organization that aligns with Aragon's values and mission. The Aragon team will remain independent from the Foundation.

“There is an entirely new governing body, and it is composed of people who have been Aragon supporters and users,” Aragon CEO Anthony Leuteneggar told The Defiant in an interview. “There will be alignment around one singular mission, and you have professional people who can fulfill that mission.”

Aragon, which launched in 2017, provides users with no-code DAO creation and management tools. Through Aragon users can distribute tokens, set governance parameters and authorize wallets for voting simply through its interface.

It believes that “the future of humanity will be decided at the frontier of technological innovation and human collaboration.”

We are excited to announce that Status Network has partnered with Aragon to deploy its pre-deposit vaults for mainnet, offering exciting benefits to those who get in early.

An OG in the crypto industry, Aragon powers protocols with products and services designed to manage capital allocation, governance, and ownership at scale.

As part of this partnership, Aragon’s open-source DAO infrastructure will underpin the secure pre-deposit vaults Status Network will make available ahead of its mainnet launch.

The first truly gasless L2 blockchain powered by the Linea zkEVM stack, Status Network features a native privacy layer as well as a reputation-based Karma system that aims to prevents spam while rewarding users for staking and participation.

Karma is a soulbound ERC-20 token that cannot be transferred or sold, only earned. Revenue generated by the network – from bridged yield and native apps fees – is gathered in a native funding pool and then allocated to the community through governance by Karma holders.

Before Status Network’s expected mainnet launch in Q1 2026, early adopters will be able to deposit SNT, ETH, LINEA, or stablecoins into their respective vaults. These assets will then be bridged to Status Network upon mainnet launch. 

Each vault offers rewards for pre-depositors, including an amount of Karma at launch based on their deposit amount and points from core DeFi protocols on Status Network. As Karma cannot be purchased, pre-depositing is a great way to earn reputation and governance power early on.

Pre-Deposit Vaults TimelineThe pre-deposit campaign will roll out in several phases leading up to mainnet launch. Be the first to know when the vaults open by registering here.

The initial phase will open with the SNT and LINEA pre-deposit vaults. These vaults will remain available until mainnet goes live. As the core token of the Status community, pre-deposited SNT will receive the highest allocation of Karma at launch, set at 25 percent. After mainnet, SNT stakers will also receive 35 percent of the total weekly Karma issuance, making it the strongest long-term option for building reputation.

A subsequent phase will introduce the ETH pre-deposit vault, adding an additional pathway for early participation and yield redistribution.

The final phase will open the stablecoin vault, enabling early participants to redeem GUSD on the L2 at mainnet launch. GUSD is a new yield-generating meta-stablecoin backed by USDT, USDC, and USDS, created in partnership with Generic Protocol. 

These pre-deposit vaults will remain open until the mainnet launch of Status Network in Q1 2026. 

Remember, pre-depositing not only helps build liquidity and protocol resilience at launch, but it also earns you a corresponding amount of native app points and Karma, giving you a head start on building your reputation, your ability to help govern Status Network and other rewards.

“Through the Karma system, Status Network not only allows anyone to use the network without gas fees, but it also gives the community a way to benefit from the network’s revenue and vote on how it is run,” said Status Network lead Cyprien Grau.

“This philosophy of democratic agency and robust decentralised governance is shared by Aragon, making them the ideal infrastructure partner to power our pre-deposit vaults as we prepare for mainnet.”

Stay tuned for more updates from Status Network:

X (Twitter): Follow @StatusL2 for the latest updatesTelegram: Join the Status Network Builders Chat