Polygon DAOs Can Now Be Launched in 10 Minutes With No Code

With a new application release by the Aragon team, teams with ERC-20 tokens can launch decentralized autonomous organizations (DAOs) through a no-code dashboard. Nothing but a contract address and MetaMask wallet are needed.

Polygon (MATIC) communities can launch in 10 minutes without single line of code with Aragon app

Communities and projects on Polygon (MATIC) network can now launch their on-chain organizations paying zero fees and without writing a single line of code. This opportunity was unlocked by the latest release of Aragon's application.

The new feature on the @aragonproject App means thousands of Polygon communities & projects can launch their organizations on-chain without writing a single line of code, and at almost no cost 🤯

Learn how to import your tokens and start governing as a community in less than 10… https://t.co/Q0GO26u8Mt

— Polygon (Labs) (@0xPolygonLabs) July 5, 2023

This release is of paramount importance for all teams with ERC-20 tokens on Ethereum (ETH) and Polygon (MATIC). In order to run a DAO and organize governance referendums, teams need simply to import their tokens to Aragon app's dashboard.

Even the tokens that were created pursuant to outdated standards can still be used in decentralized governance. Aragon application allows the minting of governance tokens with prefix "g" added to the ticker:

If the token doesn't fit the standard, we'll walk you through the wrapping process to give your token voting capabilities (...) When you wrap your token in the Aragon App, a "g" will appear in front of the token symbol, meaning "governance." Unwrap at any time to convert back to the original token!

As such, for the first time ever, the ERC-20 token can be minted and moved to the Aragon dashboard to migrate toward decentralized governance on an exchange, DeFi platform or GameFi app.

SubDAOs can be created with existing tokens

Besides that, the new applicaton release can help enterpereneurs in creating SubDAOs; multiple DAOs can be launched with a single governance asset.

At the same time, to prevent scammers from attacking the tokenomics of legit tokens, only the original DAO has permission to mint more tokens.

As covered by U.Today previously, Polygon Labs was mentioned by the U.S. business outlet TIME among the 100 most powerful companies across the globe.