Why Crypto Tokens Really Failed in 2025

Aragon is developing the **Token Ownership Index** to address a fundamental problem in crypto: investors can't easily verify what rights their tokens actually grant them. The challenge stems from three issues: - Onchain rights are difficult to inspect - Offchain structures lack transparency - Token and equity misalignment obscures real risks The index will help distinguish between "ownership tokens" - which grant verifiable control over protocol parameters, incentives, or capital flows - and tokens without meaningful rights. Projects like Aave, Lido, Curve, and Aerodrome serve as examples of ownership tokens. Aragon's 2026 strategy focuses on three pillars: 1. **Ownership** - making tokenholder rights explicit and verifiable 2. **Automation** - streamlining governance to reduce overhead 3. **Value accrual** - ensuring tokens have defensible value Version 1 of the Token Ownership Index launches soon. [Read the full post](https://blog.aragon.org/making-tokens-investable-in-2026-through-ownership-automation-and-value-accrual/)

Aragon has introduced a monthly newsletter to keep the community informed about developments in governance and tokenomics. **What's Covered:** - Updates on what Aragon is building - Key trends and changes shaping the governance space - Insights into tokenomics developments The newsletter aims to provide regular updates for those interested in DAO governance and token economics. Community members can subscribe through Aragon's Substack at [https://substack.com/@aragon](https://substack.com/@aragon).

**Status L2** is hosting a Twitter Spaces session next Wednesday to reveal details about their **gasless network bootstrap strategy**. The session will focus on how **Aragon-powered pre-deposit vaults** are being used to launch the network. These vaults allow users to: - Contribute liquidity before mainnet launch - Stake assets and earn Karma tokens - Help bootstrap network from day one **Key Status L2 features:** - Gasless user experience - Shared-yield model instead of sequencer fees - Native privacy layer with shielded assets - Karma token for governance and gas-free transactions The pre-deposit vaults are built on **Aragon OSx** and deployed on Ethereum L1 and Linea, creating a foundation for the network's liquidity and governance systems. [Join the Twitter Spaces](https://x.com/i/spaces/1mrGmBRaOmNJy?s=20) to learn the implementation details.

**Aragon has completed a comprehensive governance advisory report** for the Mina Foundation, providing strategic recommendations for the protocol's decision-making evolution. The report, authored by governance expert @governingweb3, focuses on: - **Modular governance structures** that can adapt as Mina Protocol grows - **Upgrade-safe decision-making processes** to ensure protocol stability - Clear implementation pathways for enhanced governance This advisory work represents a significant step in Mina Protocol's organizational development, addressing the complex governance challenges faced by evolving blockchain protocols. [Read the full report](https://forums.minaprotocol.com/t/mina-foundation-governance-recommendation-report/7027) on the Mina Protocol forums for detailed recommendations and implementation strategies.