PARIS, FRANCE / ACCESSWIRE / July 26, 2022 / The Algorand ecosystem is one of the most popular up-and-coming layer one blockchains in DeFi space, and for a good reason. The ecosystem has tons of highly sought-after and innovative products, services, and features. From this array of positive ecosystem participants, AlgoDAO is making considerable progress in standing out from the crowd and bringing the Algorand network to new heights! Their hard work has garnered the support of notable VCs, including Borderless Capital, the Algorand Foundation, Nodeseeds, and others.
AlgoDAO – Revolutionizing Ecosystems
AlgoDAO is the Algorand ecosystem’s next-generation, DAO-governed incubator, primary market infrastructure, and accelerator, all powered by the ADAO token. AlgoDAO removes the hurdles of securing Web3 funding by giving builders access to a DAO-governed incubator. Taking things a step further, AlgoDAO offers world-class primary market infrastructure, allowing projects access to funding at scale.
In this way, AlgoDAO may best be defined as a community-owned and driven DAO, incubator, launchpad, and innovation pool designed specifically for the Algorand network. Many moving parts, all of which fit seamlessly together. The ultimate goal? Make Algorand (and Web3 in general) more widely recognized and accessible, helping to bring DeFi and Algorand to the mainstream.
Four Horsemen of Success
AlgoDAO consists of four separate but interrelated key components:
1. Show me the money! Through project incubation, pre-money financing, and IDO (initial digital offering) rounds, AlgoDAO Accelerator supports projects at any stage. From incubation to market readiness and beyond, they have your back. As a DAO, AlgoDAO brings fairness to the process as well. The project has increasingly decentralized project-access controls, which helps promote democratic access for everyone involved.
2. Ready to blast off? AlgoDAO Launchpad scales the Algorand ecosystem. It is built around decentralized finance, decentralized applications, and Web3 applications, bringing the best of the industry under one roof. The DAO discovers, empowers, and supports strong teams in building their projects and launching on Algorand. The result? A thriving DeFi, dApps, and Web3 ecosystem providing real value for all participants, all powered by Algorand.
3. Are you on the grindset? The AlgoDAO SIGMA pool is a special liquidity pool owned collectively by the AlgoDAO community. The SIGMA Pool uses a SIGMA token model, giving the community access to a fully democratic and participatory launchpad tokenomics. The SIGMA pool grows sustainably with every pre-money round funded by AlgoDAO and each IDO initiated via AlgoDAO Launchpad. Everyone in AlgoDAO and the Algorand ecosystems win together!
What Makes AlgoDAO Special?
AlgoDAO is a premier launchpad that includes the incubation of top DeFi projects and a reliable voting system, with the end-goal being that it shall eventually become DAO-based. In this way, AlgoDAO is not your typical launchpad. It involves a burn booster that IDO participants can activate, therefore making ADAO a deflationary token.
In addition, SIGMA is AlgoDAO’s secondary token and can be acquired by staking ADAO tokens. This beneficial tagalong is stackable and permits voting within the ecosystem. Moreover, any AlgoDAO incubated project sends a percentage of any tokens sold during IDO to the SIGMA Pool. Subsequently, the pool gets backed by projects that launch on the AlgoDAO launchpad. The result? A sort of index fund that provides exposure to all projects which start their journey on AlgoDAO. Now that is skin in the game!
What about safety and transparency?
AlgoDAO has undergone a formal audit by the Cyber Unit Tech corporation. This well-known cybersecurity firm teaches businesses and governments how to boost performance, construct durable technical systems, and remove deficiencies in critical infrastructure. The final report of AlgoDAO’s smart contract code audit has also since been delivered, concluding that there are no security risks or logical contradictions in the protocol.
Furthermore, AlgoDAO is a community-driven project which adheres to open-source principles. All interested parties are welcome to contribute to the DAO. It is also possible to make non-technical contributions by joining the official Telegram group in addition to the Twitter, Discord, and Medium channels. Also, AlgoDAO’s Federation for IDO Allocations is divided into five tiers, ranked from lowest to highest via ‘Ensign,’ ‘Lieutenant,’ ‘Vice Admiral,’ ‘Flagship Commander, ‘ and finally ‘Fleet Commander.’
Algorand is indeed among the most technologically advanced layer one blockchains. The protocol is verifiably quick, decentralized, developer-friendly, safe, and versatile. However, one could argue that the Algorand DeFi ecosystem currently lags behind the DeFi ecosystems. The comparatively small total value locked (TVL) within the Algorand network offers an opportunity to stimulate and incentivize development teams to build within the ecosystem. This incentive alignment benefits developers and the Algorand ecosystem as a whole.
AlgoDAO fills this current void by serving as a DAO-governed incubator and primary market infrastructure, helping to scale Algorand’s DeFi layer rapidly. This process lays the groundwork for Algorand’s DeFi ecosystem to flourish, catching up and leapfrogging potential competitors. AlgoDAO is also a self-sustaining, community-owned, and popularly driven ecosystem. It has a delicately balanced governance framework that provides all DAO members a say in how AlgoDAO operates and functions. Ultimately, AlgoDAO helps to fulfill Algorand’s mission of removing technical barriers to the widespread adoption of blockchain technology by making it easier than ever before to jump feet first into the rapidly growing world of DeFi!
Email: [email protected]
Contact person: Florian Hermet CEO of Nodeseeds
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Source: Digital Journal