Youssef Amrani, co-founder of Atom Accelerator, gave a talk at the Cosmoverse 2023 about how the project has helped to expand the Cosmos ecosystem. Atom Accelerator, also known as ADA, is a community-oriented fund and accelerator program aimed at supporting excellence in public goods, open-source projects, and ecosystem initiatives that can bring success, security, and innovation within the Cosmos network.
The accelerator’s goal is to enhance the value of the ATOM token and the Cosmos Hub by funding and supporting projects contributing to the growth and development of the Cosmos ecosystem. It operates as a grant-focused DAO (Decentralized Autonomous Organization) and seeks to create connections between investors and promising projects within the Cosmos network.
Youssef mentioned that ADA’s journey commenced after Atom 2.0, during a time of uncertainty and a void within the Cosmos community. It was during this period that ADA emerged, aiming to fill the gap and rekindle trust among builders and developers in the Hub. Shifting from a culture of rent-seeking to a more builder-friendly approach became one of ADA’s core missions.
He highlighted a significant realization: while the Cosmos Hub was prestigious, it lacked a fully aligned, decentralized organization. ADA took up the mantle, fully aligning itself with the Hub and becoming 100% owned by it.
ADA’s key initiatives
Describing how ADA has grown over the years, the co-founder said that its primary focus is on supporting builders. It aims to make the Hub more attractive to them by providing grants and assistance. These grants stimulate the ecosystem and assure developers of the Hub’s long-term presence.
In addition to helping builders, ADA seeks to redesign Atom economics. It follows a bottom-up approach, engaging with key players like BlockWorks to offer innovative solutions. ADA has also played a crucial role in deploying liquidity pools on Astroport, adding significant value to the ecosystem.
Astroport is a multichain decentralized exchange (DEX) protocol integrated with Cosmos. It provides users with the ability to exchange various crypto assets using multiple pool types, including a Curve-style stable swap. It is designed to offer an intergalactic automated market maker (AMM) and DEX where users can dock, swap, and provide liquidity.
Youssef also noted that ADA actively collaborates with the Osmosis Grant Program and other parties to fund shared security. Their goal is to make the Cosmos Hub more secure and resilient. ADA is increasing the Cosmos Hub’s visibility in mainstream crypto media through partnerships with BlockWorks, Messari, and hosting dedicated events.
Challenges and future goals
While ADA has achieved notable success, he said that it has faced its share of challenges. Coordination costs, an opportunity cost for seizing interesting opportunities, and high demand for their services have been some of the hurdles.
In the future, ADA plans to migrate to DAO to enhance transparency and decentralization. It aims to adopt a full-time model for its contributors and embrace a more strategic Request For Proposal approach. ADA also has exciting plans to streamline onboarding processes and ramp up interchain distribution.
