Atom Accelerator DAO (AADAO), funded by the Cosmos Hub community pool via governance, is a pivotal initiative in the Web3 space, particularly within the Cosmos ecosystem and the AEZ. It serves as a community-oriented fund, focusing on fostering excellence in public goods, open source projects, and initiatives within the ecosystem. Prior to this, if teams wanted to source non-VC funding, they were limited to grant programs and community pool spend requests. However, the AADAO blends these two options together, creating a seamless way for teams big and small to tap into the funds available in the community pool, without having to go through the process of on-chain governance.
The AADAO Acts as a sort of middleman between a set amount of funds in the community pool, and the end user (teams) looking to tap into them. This allows for projects to get funded, as well as receive some level on centralized support, with a lack of friction and on a timeframe that isn’t possible with purely on-chain governance.
Background and Vision
AADAO operates at the heart of the Cosmos hub, with its token ATOM playing a crucial role as a gateway and reserve asset in the interchain environment. The DAO’s vision is to support initiatives that bring success, security, and innovation to ATOM and its associated networks. AADAO requests funds at set intervals, or “rounds,” from the community pool, which it then spends on funding teams that are building in or around the AEZ. This way, if the community ever becomes unsatisfied with the performance of the DAO, they can cease funding for future rounds.
2023 Impact Report
The 2023 annual report of AADAO highlights its achievements and financials in it’s first full year of operation. It emphasizing the DAO’s commitment to realizing the full potential of the ATOM Economic Zone, as well as it’s mission to be transparent in their processes. The report showcases the DAO’s role in enhancing the ATOM community and expanding its network effect. Check out the full thing for an in-depth summary, but some key take-aways are as follows:
Achievements
AADAO has significantly influenced the Cosmos Hub governance and ATOM tokenomics through its involvement in the Tokenomics RFP project. It processed 167 applications, greenlighting 22 projects, which led to a disbursement of 110,601 ATOM ($925K). The DAO’s collaboration initiatives have been notable, including partnerships and projects that enhance the interchain security and Cosmos exposure to other blockchain networks.
Financial Overview
The DAO allocated $3.8 million to 39 builder projects from a pool of 211 applications, demonstrating its successful investment strategy. Looking ahead to 2024, AADAO aims to continue supporting community acceleration around the ATOM Economic Zone. InterchainInfo was among the projects funded in 2023 by the AEZ!
Operational Expenditure
A significant portion of the DAO’s operational expenses, amounting to 86%, was allocated to payroll, with 9% dedicated to marketing and advertising. These expenditures were crucial for maintaining the DAO’s operational efficiency.
Funding Themes and Priorities
AADAO encourages applications across various themes such as replicated security, ATOM zone build-out, business development, governance, infrastructure & tooling, interchain public goods, applied R&D, events, marketing & education, and decentralized identity and credentialing. These themes are strategically chosen to align with the DAO’s vision and the broader goals of the Cosmos ecosystem.
Challenges and Future Direction
To maintain the quality of its review process, AADAO temporarily halted new grant applications in September 2023. This decision was aimed at ensuring a comprehensive review and effective conclusion of its mandate. Additionally, the DAO has been considering expanding its team to address the growing demand for strategic partnerships and grant applications.
Mandate Extension Proposal
AADAO proposed extending its initial term to December 2nd, 2023, to process the application backlog, monitor project milestones, and refine its structure for future operations.
Current Team Composition
The Atom Accelerator DAO (AADAO) boasts a diverse team of professionals with expertise across various domains relevant to the blockchain and Web3 sectors.
Team Members
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Project Managers
- Better Future: Former Ripple Accelerator runner with 20 years in software, incubators, accelerators, and seed investing. Holds a Ph.D. from Stanford.
- Youssef Amrani: Core contributor to the Cosmos Hub, involved in the Economic Committee of the IST stablecoin, and a former Community Analyst at Messari.
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Reviewers
- Dilan Asatekin: Founder of Imperator.co.
- Reena Shtedle: Co-founder and Head of Business Development/DevRel at Citadel One.
- Xavier Meegan: Chief Investment Officer at Chorus One.
- Mikey Lee: Engaged in Business Development at Cosmostation.
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Technical Lead
- Julien Robert: Software engineer at Binary Builders and a Cosmos SDK specialist.
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Oversight Coordinator
- Joni: Co-founder of the educational Blockchain Insight Group.
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Senior Oversight Committee Member
- Jason Choy: Involved in angel investing, founder of Tangent, host of the Blockcrunch Podcast, and former General Partner at Spartan Capital.
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Auditor/Controller and Oversight Committee Member
- Patricia Mizuki: Former PwC auditor with over a decade of experience in audit, risk management, and process improvements.
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Project Coordinator
- Bendy: Has 15 years of experience in digital marketing within the live entertainment industries.
Community Engagement
The DAO emphasizes the importance of community feedback in shaping its initiatives and decisions, demonstrating its commitment to transparency and community-driven governance. Getting in touch with them on any of their social channel, i.e. twitter/X, Telegram, etc. is encouraged. Find links under the title at the top!
