AlgoFund is an Algorand native ecosystem offering a launchpad and a full
suite of DeFi services. Led by a team of experienced engineers and DeFi
enthusiasts, AlgoFund is set to implement market-leading capabilities
and easy-to-use and secure products.

As of today, we have come a long way in our journey with the great help
and support of our community. To unlock the next step for AlgoFund’s
future, we believe that the security of the launchpad service should be
confirmed by auditing experts before hosting new project IDOs. The funds
raised in the public sale will be used to cover the audit of the smart
contracts which will help move our launchpad platform to mainnet before
the end of this quarter.

Key points about the sale:

Sale type: Tier system with guaranteed Allocation
Target raise: 100,000 ALGO
Tokens put on sale: 5M–7M $WALGF
Start date: Friday 22th of April at 7 pm UTC

The guaranteed system, tiers, tickets, and over-subscription:

AlgoFund operates using a guaranteed system to allow every participant
to be part of the sale. To be an eligible user you will need to hold a
minimum of 5000 ALGF, which puts you into a bronze tier. There are 4 tiers
that you can be part of Bronze, Silver, Gold, and Diamond.
Every tier entitles you to a number of tickets. A ticket is a unit to distribute allocations among participants. Now how the value of a ticket is decided? Let’s say after the registration phase a total of 1000 tickets have been submitted with the goal to raise 100K ALGO then a single ticket will be worth 100 ALGO. If you have 7 tickets then your allocation in the sale (the amount of tokens you can buy) will be worth 700 ALGO.
Another important concept that is implemented is over-subscription. A
common problem when hosting token sales is unused allocations. A user
can have 500 ALGO as an allocation but decides to submit only 300 ALGO.
To tackle this problem, AlgoFund allows participants to use more than their original allocation in the sale by assigning to each ticket a higher value than what normally should be. This model incentivizes participation and evenly distributes tokens to the community.

Let’s take a look at how the private sale will take place.

How to participate in the private sale:

The workflow of the process will go as follow:

1. The first step is the whitelist which will last for 48h. At this stage, you will need to register your address and choose a tier by submitting $ALGF tokens to the smart contract. After the 48h period, the registration will be closed and the maximum amount to invest for each participant will be determined.

2. A second stage will then take place for 48h, where you will take part in the sale. You can buy $WALGF by submitting your ALGO.

The price of 1 $WALGF is equal to 1 $ALGF at the end of this stage. Every 1 $WALGF will be later redeemed for 1.5 $ALGF, yielding a 50% gain.

After the submission is over, deposited $ALGF can be reclaimed.

3. Finally comes the third stage where funds will be distributed. Every participant will receive the bought amount of $WALGF. In the case of an over-subscribed IDO, each investor still receives a proportional amount of their original $WALGF allocation and can redeem the excess ALGO.

Post Distribution Phase:

After the end of the distribution phase, $WALGF can be redeemed to $ALGF by staking it for 3 months in a special pool of $WALGF - $ALGF with a 1:1.5 conversion rate. If a user has 100 $WALGF, after staking it for the whole 3 months period, he will accumulate 150 $ALGF.
The idea behind the $WALGF is to allow a controlled influx of the public sale tokens in the market and at the same time distribute in real-time $ALGF for participants.

About AlgoFund

AlgoFund is a decentralized launchpad with the next generation DeFi products to empower innovative and disruptive projects on the Algorand network. The vision is simple, help fund startups while providing a safe platform for early investors. AlgoFund is a community-centric platform and is transitioning towards a DAO governance model, entirely run and owned by the community.
To stay updated with the lasted news join us on — Discord, Telegram, and Twitter.

Another week, another service for the Algorand community and ecosystem. As part of our ever-evolving services, the team is thrilled to reveal a new governance protocol on Algorand.

As planned in our ambitious roadmap, we believe in enabling decentralized decision-making and giving control to the community to decide on the future of the platform. In AlgoFund, we also firmly believe that innovation lays the proper foundation for long-term success. For this reason, we will be releasing this week a newly developed on-chain, non-custodial, and permissionless governance system.

The Governance service will be used by the $ALGF holders to vote on proposals for future IDO listings, new functionality to the platform, and overall global decisions that impact the project.

The protocol is a Token-Vote based protocol that does not require voters to move their $ALGF tokens or lock them in a smart contract.

Every proposal will have a body explaining the issue the community is facing and propose multiple choices representing different solutions. The chosen choice is the one with the most casted votes i.e. GALGF tokens. The voting process consists of 3 steps:

• The registration phase is where the users register their address to participate in the vote.
• A snapshot is then taken to determine the total $ALGF holding of the registrants.
• Finally, a voting phase that allows users to cast their vote.

Registration

When a proposal is live, a corresponding smart contract will be deployed alongside a custom token. On the app, users can register their addresses to participate in the proposal voting. Registration is done by opting to the governance smart contract and to the proposal’s customized token called $GALGF.

Snapshot

As mentioned before the governance protocol is non-custodial meaning it will not ask participants to transfer their $ALGF tokens instead a snapshot will calculate all the $ALGF holding of an address either in the wallet’s balance or in the staking pool or in the farming pool. The snapshot will be taken at a random moment after the registration ends. This mechanism was implemented with the user’s freedom in mind. It’s very important to allow participation in the voting without moving or locking funds, this gives the user great flexibility. Note that an account’s voting power is equal to the snapshot of that account’s $ALGF total balances. At this stage, participants do not need to perform any actions.

Voting

Once the snapshot stage is over, all the participants will receive a number of GALGF tokens that is equal to their total assets tracked in the snapshot (wallet balance, staking and farming pool participation shares). The token is linked and valuable only for the voting of this proposal. On the governance app, users will cast their vote by submitting the proposal tokens and responding to the proposal’s multiple choices. Note that every 1 token submitted represents 1 vote. Since the mechanism is solely handled by the smart contract, the voting is transparent and its evolution is displayed in real-time to all users.

AlgoFund believes in the importance of having a transparent decentralized decision-making process. If you are building on Algorand and need to incorporate a governance system, please drop us an email at contact@algofund.co. And as always, we will keep pushing the limits of the Algorand capabilities and provide the whole community with the latest innovations.

On January 1st 2022, AlgoFund went live being the first IDO launchpad designed and developed for the Algorand ecosystem. The coming months present a challenge and an opportunity to make AlgoFund a leading launchpad. To that end, the team is happy to release its roadmap for 2022. Here is how we are going to make this year a successful one.

Q1 2022 :

• Staking: We will provide a staking service for holders of $ALGF, allowing you to earn rewards while participating in IDOs. The staking will be flexible and easy to use, allowing you to redeem your staked assets at any time in a user-friendly and straightforward manner.
• Farming LP Tokens: This feature will award users, providing liquidity on tinyman and other future DEXs. Farming your LP tokens will make you earn passive rewards in the form of $ALGF tokens. Rewards in this service are distributed regarding your share of the pool.

Q2 2022 :

• Testnet IDO: On the Q2 of 2022, we will run an IDO test to prepare for hosting upcoming projects and collect feedback on the user experience. Everyone is welcomed to get a taste of the IDO process!
• Stakeholder Voting: This feature will allow you to take part in the governance process. Users will be able to vote on changes and decisions of the AlgoFund’s platform.

Q3 2022 :

• Vesting: A very crucial step of every dApp is the ability to vest their funds. The team will release this service for hosted projects.
• KYC Integration: Automate KYC validation for faster and more cost-effective customer acquisition.

Q4 2022 :

• Liquidity Locker: Locking liquidity is becoming a standard in the DeFi industry, and we are proud to bring this service for the upcoming projects. This functionality will allow projects to securely lock LP tokens for any customized duration using our audited smart-contracts. Liquidity is locked by renouncing the ownership of liquidity pool (LP) tokens for a fixed time period, by sending them to a time-locked smart contract. This gives users more confidence in the markets they are involved in.
• Mobile App Release: As a last milestone for 2022, we will be working on releasing a mobile version of our platform. The mobile application will keep all the services of the platform while being easy to use, fast and secure.

Final Word :

We are grateful for your interest and support. We will be releasing more details on our roadmap milestones in the coming weeks. If you haven’t already, join our Twitter, Telegram, and Discord channel to become part of our community.

AlgoFund is the first decentralized accelerator platform, connecting early stage Algorand innovators and projects with our community of backers. AlgoFund provides Algorand developers the advantage of early support and funds.

What Does AlgoFund Provide The Community?

Via our platform, members of our community are provided secure access to sales of Algorand disruptive projects. Through a tiered system, holders of the $ALGF token gain guaranteed allocation to seed rounds, presales, and public sales of projects launching through our platform.

By establishing individual caps, and a fair distribution system, AlgoFund protects our community backers from the risk of presale dumps. Our goal is to provide projects with a sustainable growth path, and prevent retail investors from being burned by whales selling for early profit as soon as projects hit an exchange.

Stay Tuned For More Exciting News

We appreciate everyone’s patience. There is a lot of interest around the project so we are working hard to build a great team of partners who will help AlgoFund make crowdfunding safer.

Thank you all for the support until now!

Coming Very Soon — Stay updated!

Join us on :

Website: https://algofund.co

Telegram: https://t.me/AlgoFund

Twitter: https://twitter.com/algofundio