- Polygon Labs and Aragon announced a partnership to enhance DAO accessibility to users.
- This collaboration offers users the ability to create DAOs with few requirements needed.
- Both crypto firms are set on making the Web3 space available to everyone as they promote blockchain technology.
Polygon Labs and Aragon have announced a partnership that will allow users to build and manage Decentralized Autonomous Organizations (DAOs) with 50 cents and no coding required.
On April 6, Aragon announced the partnership with Polygon Labs on its Twitter page, including a link to its website detailing how to create a DAO on Polygon with the Aragon app.
This collaboration between the two prestigious crypto firms will enable users to influence Aragon’s ‘lean codebase’ and Polygon’s layer-2 blockchain to produce DAOs without technical knowledge.
This new procedure uses on-chain technology to reduce the barriers and expenses connected with creating Decentralised Autonomous Organisations (DAOs).
What are DAOs?
DAOs (Decentralised Autonomous Organisations) focus on an entity’s collective activities and growth through user votes and codes written in a smart contract.
DAOs are a form of legal representation in the crypto industry; it has the role of a board of directors or a CEO; however, unlike these two, it does not restrict the decision-making powers to a single body or a small number of people; instead, a large number of token owners.
The co-founder of Polygon Labs, Sandeep Nailwal, claimed the collaboration with Aragon would make on-chain governance available to every user worldwide, further effectively contributing to the global adoption of blockchain technology.
Brief History of Aragon
Launched in November 2016 by Luis Cuende and Jorge Izquierdo, Aragon has since been partnering with multiple crypto firms, bringing easy and convenient access to its users.
In 2021, Aragon merged with Vocdoni protocol—a Web3 voting and governance solution provider—to develop an integrated solution to enhance the Aragon ecosystem. Vocdoni’s impressive technology used zero-knowledge cryptography to allow an anonymous vote and was the primary reason for the acquisition by Aragon.
Additionally, this is not the first partnership between Aragon and Polygon Labs, as in September 2021, Aragon’s products were launched on Polygon’s platform, leading to the establishment of over 6,000 DAOs.
Brief History of Polygon Labs
Initially founded in 2017 as ‘Matic Network’ by ten individuals, Polygon Labs has introduced a slew of features and functions to help with blockchain technology’s accessible accommodation and support.
On February 1, Polygon Labs announced a partnership with Saga—a Web3 scalability protocol—to automate Supernets. The association was aimed at increasing the growth and adoption of appchains.
Conclusion
Although this is not the first Aragon and Polygon Labs partnership, it is one of many crypto users’ favorite collaborations. It will guarantee anyone with the skill to create a DAO with as little as 50 cents and no coding required.
