Community members of open-source software project Aragon are now allowed to trade the platform’s ANT tokens for the new Aragon Network Juror (ANJ). The new tokens, according to an official announcement, are meant to be used for staking on Aragon’s forthcoming dispute resolution platform.
As part of the preparation for the launch of Aragon’s decentralized court on February 10, the platform has started the process of selecting human arbitrators. The pre-activation window would remain open until the official launch.
Aragon is known in the industry as a provider of tools and frameworks that are necessary for the development of DAOs (decentralized autonomous organizations). Over the years, the platform’s multi-faceted structures had evolved from serving one or two clients up to thousands of users.
On the official website, Aragon explained how its upcoming court system would work. Notably, it would deal with subjective disputes from members with the help of human jurors. Additionally, Aragon clarified that the post of a human arbitrator is open to members who possess a minimum of 10,000 ANJ tokens, which are already activated. As of press time, ANT is trading at $0.47, which means an interested participant must have $47 worth of tokens to qualify for the selection.
For each case filed, there would be three jurors assigned to handle the matter. They would be selected in random. Each one must rule independently and must reveal their decision to the other two jurors, as well as to the parties involved in the dispute. As an appreciation for their efforts, the jurors would be rewarded with ANJ tokens.
However, Aragon emphasized that an arbitrator who would go against the other two jurors would lose his/her ANJ tokens. The staked tokens would then be divided in half and would be rewarded to the remaining two. This setup, as explained by Aragon, is to ensure that the jurors’ decisions are intended for determining the most appropriate resolution.
Once the pre-activation window closes on February 10, Aragon would revoke the fixed rate it has implemented to the token conversion. The exchange of ANT tokens to ANJ would be subjected to a varying rate, which would primarily depend on the number of activated ANJ tokens at the time of the trade.