A decentralized autonomous organization (DAO) is taking legal action against its founding team after a decision to dissolve its governing body and distribute most of its assets to the holders of their tokens. 

On Nov. 2, the team behind Aragon announced that it would be dissolving the Aragon Association. The group said it’s deploying the organization’s treasury so that holders of the ANT token can redeem Ether (ETH) in exchange for their tokens. The update will give back around $155 million in digital assets to its stakeholders.

Citing various reasons, the team behind Aragon shut down the ANT Token and dissolved its governing body without consulting the DAO. This has angered a…

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