U.Today - With a new application release by the Aragon team, teams with ERC-20 tokens can launch decentralized autonomous organizations (DAOs) through a no-code dashboard. Nothing but a contract address and MetaMask wallet are needed.
Polygon (MATIC) communities can launch in 10 minutes without single line of code with Aragon app
Communities and projects on Polygon (MATIC) network can now launch their on-chain organizations paying zero fees and without writing a single line of code. This opportunity was unlocked by the latest release of Aragon's application.This release is of paramount importance for all teams with ERC-20 tokens on Ethereum (ETH) and Polygon (MATIC). In order to run a DAO and organize governance referendums, teams need simply to import their tokens to Aragon app's dashboard.
Even the tokens that were created pursuant to outdated standards can still be used in decentralized governance. Aragon application allows the minting of governance tokens with prefix "g" added to the ticker:
As such, for the first time ever, the ERC-20 token can be minted and moved to the Aragon dashboard to migrate toward decentralized governance on an exchange, DeFi platform or GameFi app.
SubDAOs can be created with existing tokens
Besides that, the new applicaton release can help enterpereneurs in creating SubDAOs; multiple DAOs can be launched with a single governance asset.At the same time, to prevent scammers from attacking the tokenomics of legit tokens, only the original DAO has permission to mint more tokens.
As covered by U.Today previously, Polygon Labs was mentioned by the U.S. business outlet TIME among the 100 most powerful companies across the globe.