AADAO is closing, returning funds to Cosmos Hub Community Pool, sunsetting due to constraints.

From Investing.com.
December 16, 2024, 08:30 AM:

Atom Accelerator (AADAO), a governance-mandated DAO of the Cosmos Hub, is closing its operations and returning over $817K in remaining funds to the Cosmos Hub Community Pool. Contributors have also declined performance bonuses, returning a total of 88,056 ATOM tokens. A trustee will safeguard $1.1 million in venture investments until 2028.

AADAO will enter ‘Maintenance Mode’ to complete existing grant obligations. The DAO will cease processing new grant applications and focus on managing outstanding grants until December 31, 2024. A crew of 3-4 contributors will remain on reduced payroll to ensure a responsible wind-down process.

The decision to sunset AADAO follows internal deliberations due to significant constraints in delivering value to the Cosmos Hub. Despite achieving milestones, the DAO will return nearly $2 million from its treasury to the ATOM Community Pool. Changes to the compensation framework have been made, with contributors ceasing to receive ATOM token-based retention compensation.

Atom Accelerator DAO (AADAO) is a governance-mandated DAO of the Cosmos Hub, focused on driving value for ATOM and supporting initiatives that create economic impact or drive growth. Their venture arm strategically invests in early-stage web3 founders and startups, offering expertise and support within the Cosmos ecosystem.

Read more at Investing.com: AADAO Sunsetting, Contributors to Return $2.8 Million to Community Pool By Chainwire