ADAO Token - HackMD

# ADAO Token ## Does AlgoDAO have a token? Yes! The AlgoDAO token is called ADAO, an ASA (Algorand Standard Asset) token for use within the AlgoDAO ecosystem. ADAO has a total supply of 100 million tokens. ## Is ADAO listed anywhere? ADAO is already listed on a number of decentralized and centralized exchanges. You can buy $ADAO tokens on [Pact](https://app.pact.fi/swap?pair=-ALGO0/ALGODAO+TOKEN692085161(30,CONST)), [MEXC Global](https://www.mexc.com/exchange/ADAOX_USDT) and [Tinyman](https://app.tinyman.org/#/swap?asset_in=0&asset_out=692085161). Information on new listings will be released on our socials, specifically Twitter and Telegram and Discord. Become a part of our community and follow us on social media! - Telegram group: https://t.me/AlgoDAOCommunity - Telegram announcements: https://t.me/AlgoDAOAnnouncement - Twitter: https://twitter.com/AlgoDAO_fi - Discord: https://discord.gg/algodao - Medium: https://medium.com/algodao-fi ## How can I buy ADAO tokens? AlgoDAO’s IDO is alreadt completed. You can buy $ADAO tokens directly from a number of decentralized and centralized exchanges. You can buy $ADAO tokens on [Pact](https://app.pact.fi/swap?pair=-ALGO0/ALGODAO+TOKEN692085161(30,CONST)), [MEXC Global](https://www.mexc.com/exchange/ADAOX_USDT) and [Tinyman](https://app.tinyman.org/#/swap?asset_in=0&asset_out=692085161). # Ecosystem and Security Is there any formal audit of the Platform? Yes, we already did a formal audit of the Platform since we are committed to ensuring that users have maximum confidence in AlgoDAO as we continue this journey to activate a vibrant dApps ecosystem on Algorand. The formal audit was done by the [Cyber Unit Tech Corporation](https://cyberunit.tech/) which is a renowned cybersecurity company that educates both enterprises such as Cisco and governments on how to improve performance, build resilient technical systems, and eliminate vulnerabilities in critical infrastructure. Cyber Unit has delivered the [final report](https://2268117495-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FqYohSqgiYnkVaVL1mkJi%2Fuploads%2FAuOxxgSjZMbvBJpSZrCw%2FAlgoDAO_Smart_Contract_Audit.pdf?alt=media&token=ced2e292-78c3-4a46-96a4-bca5cab29daf) of AlgoDAO’s smart contract code audit concluding that AlgoDAO’s smart contracts do not have any security risks nor logical contradictions in the protocol. ## Will AlgoDAO be open-source? AlgoDAO is a community-owned project that subscribes to open-source ideals. The DAO welcomes contributions from all interested participants. To make non-technical contributions, join one of our community channels provided below. - Telegram group: https://t.me/AlgoDAOCommunity - Telegram Announcements: https://t.me/AlgoDAOAnnouncement - Twitter: https://twitter.com/AlgoDAO_fi - Discord: https://discord.gg/algodao - Medium: https://medium.com/@AlgoDAO.fi ## Are you already incubating ADAO projects? AlgoDAO already has several projects in the pipeline and the first set of AlgoPAD projects will commence their IDOs within the next few months. We we await for projects to launch on AlgoDAO through standard IDOs, we also have a unique Reverse Hackaton Offering (RHO) through which AlgoDAO members can participate in early-stage funding rounds of projects building on Algorand. [Learn more about how RHOs work](https://medium.com/algodao-fi/mechanics-of-algodaos-rho-how-exactly-does-it-work-913313329eb5) ## How do I apply my project for an IDO? Projects that want to go through AlgoDAO’s incubator can apply for consideration through the community proposal process that starts with due diligence. [Click here to complete the due diligence form.](https://docs.google.com/forms/d/e/1FAIpQLScTea5UIyM-DBt4Jhxheqb_CQ5ZXet_h9Ydard68ELVnLCSmQ/viewform) [Click here to begin the application process.](https://algodao.typeform.com/to/e08uYi3q?typeform-source=algodao.fi) ## Will AlgoDAO incentivize the community with rewards? Yes, AlgoDAO Community will be able to earn tokens by liquidity mining, staking, or by our innovative Sigma pool. Community members will be rewarded on a Pro-rata basis. ## What are the IDO pool types? Our Federation for IDO Allocations consists of 5 tiers ranking from lowest to highest: - Ensign - Lieutenant - Vice Admiral - Flagship Commander - Fleet Commander - AlgoDAO Incubator ## 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. [Learn more about AlgoDAO’s incubator process](h[ttps://](https://medium.com/algodao-fi/inside-look-into-algodao-incubation-process-4e7e5cacf0d5))