Aragon, a pioneer in the field of decentralized autonomous organization (DAO) technology, has broadened its reach by introducing its Aragon OSx DAO framework and easy-to-use Aragon App on Arbitrum, a leading Layer 2 (L2) scaling platform for Ethereum. This expansion grants DAOs access to a diverse array of protocols, applications, and digital assets.
Arbitrum distinguishes itself with its rollup technology, commanding 55% of the L2 market share and safeguarding over $7 billion in total value. DAOs transitioning to Arbitrum can reap multiple benefits that have the potential to revolutionize their operations.
A primary benefit is the drastic reduction in gas fees, a significant issue for DAOs operating on Ethereum due to their heavy consumption of resources. Reduced transaction costs on Arbitrum not only allow DAOs to conserve resources but also increase voter turnout by lowering the cost of participation for members.
The process of creating custom DAOs on Arbitrum is also streamlined due to its full compatibility with the Ethereum Virtual Machine (EVM). This compatibility enables developers to tap into Ethereum’s extensive developer ecosystem and tailor DAOs to suit specific needs.
Arbitrum additionally upholds Ethereum’s robust security measures, providing a secure platform for users and facilitating a seamless integration for DAOs joining the broader Ethereum community. Furthermore, faster transaction processing on Arbitrum leads to more effective governance and management within DAOs.
Ivan Fartunov, Aragon’s Head of Ecosystem, shared his enthusiasm about being part of Arbitrum’s vibrant ecosystem, home to leading projects such as Stargate, GMX, Tenderize, and Plutus.
Aragon’s no-code solutions have facilitated the creation of over 7,000 DAOs across Ethereum’s L1 and L2 networks. Now present on Arbitrum, communities can establish a DAO in under 10 minutes and manage assets with transparency using a user-friendly app.
The flexible nature of Aragon OSx enables protocols on Arbitrum to customize their governance with plugins accommodating multichain and optimistic dual governance. This adaptability emphasizes the growing cooperation between Aragon and Arbitrum as they strive towards their common objective of enhancing participation within the Ethereum ecosystem.
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