Tim Draper’s Recent Investment with Aragon Is Looking Like a Big Success

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As reported by Coinmod last month, high-profile investor and Bitcoin enthusiast, Tim Draper, invested into Aragon by purchasing a million ANT tokens. When Draper bought a million of it, they were only worth $0.70.  The market price of the coin increased to $1.40, which would net him about 100% return in just a few weeks from the said investment. According to Decrypt.co, Draper does not seem to have any plans to sell them off as of this moment.

Draper commented on this by saying that he bought in with Aragon for a reason. He says that he wants to drive additional usage of decentralized administration services and thus, has no current interest in selling them off.

Draper’s motive

Aragon platform is famous for providing the tools in order to create decentralized autonomous organizations, or DAOs. At the moment of this writing, the project has already facilitated the development of over a thousand DAOs since its official launch last 2018. Considering that Draper now holds 2.5% of the total supply of ANT, he has now also become eligible to participate in its forthcoming judicial system as an active member of Aragon’s board of advisors.

The project team focuses heavily on its newly devised Aragon court – a digital judicial system dedicated for the DAOs that are within the governance of the whole project. It is Aragon’s native crypto – the ANT that is used within the Aragon network governance. Holders of ANT, such as Tim Draper, will utilize their token possessions to take part in the upcoming court proceedings within the said court. The first of which, was held last February 10, which tackles about the mock trial of the developer of Ethereum Classic, Yaz Khoury.

 

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