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Atom Accelerator (AADAO) Returns Funds Raised to Cosmos Community Pool
In a recent update, the Atom Accelerator DAO (AADAO) has announced its decision to return funds raised to the Cosmos community pool. This move comes after careful consideration and a thorough analysis of the venture’s performance.
As explained in a statement, AADAO has decided to step back from its active role in investing in various projects. While the organization has successfully executed six venture investments on behalf of the Cosmos Hub, it is now choosing to focus on ensuring the safety and security of these investments rather than actively pursuing new opportunities.
According to the latest figures, AADAO’s portfolio currently holds $1.1 million in assets, with a further $750,000 in pending ventures. The organization has also instructed a trustee to safeguard these investments until 2028, at which point it is expected that all tokens will be sent to the ATOM Community Pool.
The decision to return funds raised underscores AADAO’s commitment to transparency and accountability. In doing so, the organization aims to maintain the trust and confidence of the Cosmos community while also ensuring the long-term success of its venture portfolio.
It’s worth noting that AADAO’s portfolio includes notable projects such as Elys Network, Drop Protocol, Sphinx, Plaza Finance, and Union Labs. With a combined value of $1.85 million in assets expected to be sent to the ATOM Community Pool once all tokens are live, this move is likely to have a significant impact on the Cosmos ecosystem.
As we continue to follow AADAO’s progress, it will be interesting to see how its future endeavors unfold and the potential implications for the broader blockchain landscape.
Source: u.today
