AlgoDAO Accelerator

How does the accelerator work?

The AlgoDAO accelerator process takes projects through 4 distinct stages; namely:

Incubation:

This translates to the early-stage period where AlgoDAO’s access-control mechanism vets project that will make it to the AlgoDAO platform

Pre-money:

this translates to the funding initiation stage where AlgoDAO members in the Vanguard and High Council tiers can access projects

IDO:

This translates to the process for presenting the project to the AlgoDAO community and broader Algorand ecosystem to raise awareness and funding

What is the incubation process?

Project proposal

The incubation process begins in the community forum or in the Discord dedicated channel, where anybody can propose a new project for incubation. Projects are also welcome to nominate themselves for consideration.

Project selection

The Vanguard looks through the proposed projects based on community votes or their own preference to select projects for due diligence. There’s a community participation mechanism that allows the community to make inputs but the Vanguard is not obliged to take all projects proposed by the community.

Due diligence

The next stage of the accelerator involves due diligence, which is a public process in which the project provides more information about their motivation, idea, team, tokenomics, etc. and the AlgoDAO community gets to ask more questions.

Incubation

Once the project passes due diligence, the Vanguard works closely with the team to help the project achieve some set benchmarks

Signing off

Next, the Vanguard signs off on the token issuance process. All projects launching through AlgoDAO have a special contract that issues the tokens and the contracts are not activated until Vanguard has voted to allow the issue of the tokens.

Primary market funding begins

Once the Vanguard signs off on token issuance, the Seed and private round begins and Vanguard and High Council gets access to participate in the rounds. Members in the Federation tier can stack their stake to reach High Council status to participate in the rounds.

IDO

After the primary market fund, the Vanguard signs off on the IDO and the project is exposed to retail audience for participation. It is especially important to note that the Seed and Private rounds are only available to institutional investors and retail investors are welcome to participate in the IDO.

What are the incubation criteria?

Incubation criteria will be published by the Vanguard and might be subject to changes and reviews. Broadly speaking, the incubation criteria will start with a due diligence form. In the form, all questions are weighted with a formula that accounts for different aspects of the project. If the score of the project is about 80%, it would be accepted that the incubation criteria of the project are met and the incubation can start.