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Atom Accelerator (AADAO) Returns Funds Raised to Cosmos Community Pool
In a recent announcement, the Atom Accelerator (AADAO) has revealed that it will be returning all funds raised to the Cosmos community pool. This decision comes after careful consideration and a thorough review of its operations.
As part of this process, AADAO’s governance team concluded that stepping back was the responsible course of action, allowing the DAO to redirect its resources towards other initiatives that can provide more meaningful contributions to the ecosystem.
AADAO has been actively involved in investing in various projects within the Cosmos ecosystem. Over the course of its lifespan, it has executed six venture investments on behalf of the Cosmos Hub, with seven further investments set to be executed in the coming weeks. A trustee has been instructed by the DAO to safeguard these investments until 2028, at which point all investments will have a token sent to the ATOM Community Pool.
As part of its portfolio, AADAO has invested in notable projects such as Elys Network, Drop Protocol, Sphinx, Plaza Finance, and Union Labs. This portfolio represents an impressive $1.1 million in assets, with a further $750,000 in venture investments pending.
Following the return of funds raised by AADAO, it is expected that the ATOM Community Pool will receive assets from these projects once their tokens are live, surpassing the $1.85 million invested by the Cosmos Hub.
This move underscores the commitment of AADAO to prioritize the well-being and success of the broader Cosmos ecosystem. By redirecting its resources towards other initiatives, it is clear that AADAO’s focus remains on supporting innovation and growth within the community.
AADAO’s contributions have been instrumental in driving progress within the Cosmos ecosystem, and this decision only serves as a testament to its dedication to fostering collaboration and cooperation among stakeholders.
About the author: Vladislav Sopov
Source: u.today
