The famous Tesla and Coinbase investor, Tim Draper, invests in the Aragon Blockchain by buying 1 million ANT tokens. This investment has landed him the position within Aragon’s board of advisors. In perspective, Tim Draper bought around 2.5% of the Blockchain’s total supply.
Aragon Blockchain was founded by Jorge Izquierdo and his partner, Luis Cuende. News about this project first broke out last February 2017. According to the founders’ official announcement, Aragon Blockchain is an open-source software project that handles the management of decentralized autonomous organizations, or DAOs. It provides dispute resolution services online on top of giving out tools and solutions for the effective handling of digital organizations. This includes management of vesting, payments, bylaws, fundraising, voting, cap tables, and more. As per their official blog post last February 10, they now have more than a thousand DAOs created with an estimated $8 million under management. This is what seemingly caught the attention of Draper to push through with the investment.
The Aragon Court
That date as well, February 10, 2020, an online judicial protocol to diminish DAO disputes was officially released. They named it the Aragon Court. This particular court recruits actual human jurors to assess conflicts and provides them with appropriate rewards and consequences to entice them to judge better. In order to participate in the aforementioned Aragon Court, one must hold more than a thousand ANT tokens. That being said, Aragon Court now includes Tim Draper.
The firm says that they have staked more than a million ANT tokens within the pre-activation period. A mock trial that involved Yaz Khoury, an Ethereum classic developer, has begun on the following platform.
Who is Tim Draper?
Billionaire Tim Draper has made waves within the investment industry by leveraging his robust assets in company giants such as Twitter, Tesla, SpaceX, among many more. He has also been reported to be a strong supporter of various cryptocurrencies, going as far as saying that governments who hinder currency advancements such as Bitcoin are at risk of being left behind. As we may recall, back in 2014, he has also managed to scoop up a rough estimate of 30,000 Bitcoins from the US administration’s auction of Silk Road’s confiscated assets. His high interest in crypto has since been solidified by his recent investments in Coinbase, Stampery, and now his most recent – Aragon.
Looking at it from the outside, it seems that Draper’s ANT purchase is quite a lot. However, when compared to Aragon’s total funding, which consists of $26 million, Draper’s investment appears to be trivial. With that said, as of right now, his venture proved useful as his million ANT tokens went up in value by 35% in just two day.