Returns Funds Raised to Cosmos Community Pool: Atom Accelerator’s Decision Sheds Light on Future of Innovation

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

In a surprising move, the Atom Accelerator (AADAO) has decided to return funds raised to the Cosmos Community Pool. In an announcement made public, AADAO explained that despite its initial goals of supporting promising projects and fostering innovation within the Cosmos ecosystem, it was no longer feasible for the DAO to continue operating independently.

The decision comes after a thorough evaluation by the board of directors, who concluded that maintaining the accelerator’s operations would not be in the best interest of the community. According to Vladislav Sopov, Blockchain Analyst & Writer with scientific background, this decision will allow AADAO to focus on its core mission and avoid any potential conflicts of interests.

AADAO was established as a non-profit organization to support promising projects within the Cosmos ecosystem by providing them with funding and resources. Over the course of its lifespan, the organization has executed six venture investments, with seven more expected to be executed in the coming weeks. However, it appears that the accelerator’s board has decided to prioritize the community over its own operations.

As part of this decision, AADAO will instruct a trustee to safeguard its existing portfolio until 2028, by which time all investments are expected to have a token sent to the ATOM Community Pool. This means that once these projects go live, the Cosmos Hub’s investment will be repaid in tokens, exceeding the $1.85 million initially invested.

The announcement also highlights AADAO’s venture portfolio, which includes Elys Network, Drop Protocol, Sphinx, Plaza Finance, and Union Labs, representing a total of $1.1 million in assets. Additionally, there is an expected $750,000 in pending investments, further solidifying the Cosmos Hub’s investment return.

As news spreads, many are reacting to this unexpected move from AADAO. It remains to be seen how the community will respond and what potential implications this may have for future innovation within the Cosmos ecosystem.

What do you think about this surprising decision? Share your thoughts with us in the comments below!

Source: u.today