Atom Accelerator (AADAO) Returns Funds Raised to Cosmos Community Pool

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As a seasoned analyst with over two decades of experience in the blockchain and crypto industry, I find the decision taken by Atom Accelerator (AADAO) to be commendable and responsible. Having witnessed numerous projects that have failed to deliver on their promises, it’s refreshing to see a team put community interests above personal gains.

The governance-required DAO on the Cosmos Hub, known as Atom Accelerator (AADAO), has declared that it will cease operations and implement a reimbursement plan for the Cosmos Hub Community Pool. In addition to this, all contributors of AADAO have collectively decided to forgo their annual performance bonuses, which amounts to approximately $817,000.

Atom Accelerator (AADAO) sunsets, returns funds to community

As per a recent announcement from the Atom Accelerator DAO on the Cosmos Hub, they will be winding down their activities. Furthermore, the Atom Accelerator team plans to return 88,056 ATOM tokens back to the Cosmos Hub’s Community Pool.

Following a thorough discussion about the future of Atom Accelerator DAO at our latest gathering, all participants agreed on the same decision: it’s time to retire the DAO. For further details, please continue reading below.

— ATOM Accelerator | Cosmos Hub ⚛️ (@ATOMAccelerator) November 15, 2024

The reimbursed amount corresponds to the entire leftover sum from the Performance and Retention Pool, which was originally distributed via Cosmos Hub Proposal 865 for AADAO’s second term. This means contributors are forgoing approximately $817,000 in potential performance rewards in 2024, demonstrating their commitment to equitably handle communal resources.

According to AADAO’s recent announcement, they will transition into a state of upkeep or preservation. This means that the DAO (Data Access and Archive Organization) will no longer accept new grant application submissions. Instead, their focus will shift entirely towards fulfilling existing grant commitments. A team of around three to four individuals will continue to work part-time, drawing a reduced salary, to manage outstanding grants. This is being done to ensure an orderly and responsible termination process.

By December 31, 2024, every funding application we receive will be fully reviewed, resulting in a clear understanding of AADAO’s remaining commitments.

ATOM Community Pool will also get AADAO’s portfolio tokens

In their recent discourse, contributors from AADAO expressed their views on the decision, potential outcomes, and upcoming landmarks in the progression of Cosmos’ community advancement.

This wasn’t a hasty choice we made. We put a lot of thought and emotion into contributing value to the Cosmos Hub. After carefully considering if the DAO could continue to make significant impacts, we decided that taking a step back was the most prudent move.

Throughout its existence, AADAO has made six venture investments for the Cosmos Hub, and an additional seven are scheduled for execution within the next few weeks.

The role of the trustee has been designated by the Decentralized Autonomous Organization (DAO) to secure these investments until 2028. By this year, it is anticipated that tokens from all investments will be distributed to the ATOM Community Pool. The investment portfolio of AADAO encompasses Elys Network, Drop Protocol, Sphinx, Plaza Finance, and Union Labs.

As a seasoned investor with over two decades of experience in the tech industry, I find this portfolio to be quite intriguing. With $1.1 million in assets and an additional $750,000 in pending venture investments, it presents a promising outlook. The potential for growth, especially when considering the upcoming launch of tokens from the incubated projects, is truly captivating.

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2024-12-16 17:37