AlgoDAO Phase 2 development roadmap explainer

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AlgoDAO Phase 2 development roadmap explainer

Hey AlgoDAO community,

Today we continue with the second post of our four-part series highlighting what you can expect at each phase of AlgoDAO’s development roadmap. In the first post in the series, we discussed how AlgoDAO will launch the core Pad product on Algorand mainnet, plans for the SIGMA infrastructure, and $ADAO’s token generation event (TGE), among other things.

You can find that first post here if you missed it or if you need a refresher. In today’s post, we are teasing out what you can expect in the second phase of AlgoDAO’s development roadmap so you can have a better idea of how we are working to ensure AlgoDAO’s sustainable success beyond the IDO.

Phase 2

We are hard at work to make sure that AlgoDAO is technically and operationally ready for the IDO. However, work does not stop with the IDO. That is why we are concurrently working on roadmap features and milestones that will improve the incubation, launchpad, and community experience on the platform.

1. Launch of the $SIGMA token and its TGE

In Phase 2, we will launch the $SIGMA token and conduct its token generation event (TGE). The SIGMA is an index of the tokens of all projects incubated and launched on AlgoDAO. The $SIGMA token is modeled after the ETF (exchange-traded fund) concept in traditional finance. $SIGMA tokens are backed by all the tokens in the SIGMA Pool and, as such, each $SIGMA token represents indexed exposure to all the project tokens that have been deposited in the SIGMA Pool. You can read more about the SIGMA token here.

2. Launch of the basic DAO features

Some of AlgoDAO’s basic DAO features will be launched in this Phase. Some of these features include a mechanism for the community to vote on projects that will be incubated. We are also working on a forum that empowers AlgoDAO members to suggest ways to improve AlgoDAO through the AlgoDAO Improvement Proposal Forum. You can read more about AlgoDAO’s membership structure and how it functions to better understand how the community can help make AlgoDAO better.

3. Partnering with a DEX to enable strong LM incentives for incubated projects

Another major milestone on AlgoDAO’s roadmap during Phase 2 is working on a partnership with a DEX(s) (decentralized exchange) to facilitate a robust liquidity mining incentive environment for the tokens of projects incubated on AlgoDAO. The goal of the partnership is to ensure that the projects we incubate are supercharged to succeed in the secondary market after their IDOs.

4. First 10 IDOs following AlgoDAO’s TGE and five incubated projects

In Phase 2, we expect to have ramped up AlgoDAO’s incubation pipeline for the launch of high quality Web3 and DeFi projects for Algorand. Specifically, we expect to complete 10 IDOs during Phase 2 and to execute the TGE of five projects from our incubator program.

5. Cross-chain deployment of IDO funding

You can also expect the cross-chain deployment of IDO Funding during Phase 2. This means that you can fund an IDO pool using cryptocurrencies from other chains outside of Algorand. And also, when the tokens launched on AlgoDAO have their TGEs, the tokens you purchased can be distributed for access on other chains.

6. SocialFi as a service engine

By the time AlgoDAO’s features for Phase 2 development are underway, we would also be offering the NFT SocialFi Core that we developed in Phase 1 as a service engine for projects incubated and launched on AlgoDAO. This means that the projects we incubate will be able to leverage NFTs as part of community building initiatives and IDO allocations similar to the execution in the buildup to AlgoDAO’s IDO. There are many more features and functionalities embedded in the SocialFI, but you will need to stick around to find out what is under the hood.

7. SIGMA 2.0 R&D

We are committed to constant improvement. The SIGMA Pool is an innovative program, but we believe that it could be better. During Phase 2 development, we will commence research and development to further improve the functionality of the SIGMA pool for the benefit of the AlgoDAO and the broader Algorand ecosystem. Stay tuned for more updates on this.

8. High Council pre-money funding and delegation

By the end of Phase 2 development, we would have completed the technical implementation of the High Council membership tier. Once this is done, the High Council membership tier will become operational and Federation members will be able to pool and delegate their stakes to collectively progress into the High Council membership tier.

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And that is it. These are some of the development milestones we expect to hit during the Phase 2 of AlgoDAO’s development post-IDO. Next time we will deep dive into what to expect during Phase 3 of AlgoDAO’s development roadmap and what it means for AlgoDAO, our community, and the broader Algorand ecosystem. In the meantime, make sure to stay connected with us across our social media channels so you do not miss out on important updates.