Aiccelerate DAO (AICC)

Aiccelerate DAO (AICC) is a newly launched investment DAO focusing on crypto-AI projects. Its launch sparked controversy due to the distribution of 100% of project tokens to 245 insiders and advisors, some of whom quickly sold their allocations after the project’s value skyrocketed.

Launch Details

Aiccelerate launched on Daos.fun, a launch platform on Solana, after raising 943 sol, which is approximately $175,000 at current prices. Of this amount, $75,000 came from “VIPs,” including the founder of Eliza Labs, co-founders of Bankless, and various VCs from firms like Coinbase Ventures. The remaining $100,000 originated from other insiders who each pledged up to 2 sol.

Market Performance and Controversy

The DAO, co-founded by Markus Jun, Ejaaz Ahamadeen, and pseudonymous user Ropirito, saw its market cap surge to around $150 million, nearly 1,000 times its initial raise. Subsequently, some X users reported that insiders sold their initial allocations almost immediately.

For instance, Bankless Ventures sold 10% of its allocation shortly after AICC’s launch. This action drew criticism on X, leading the organization to repurchase the tokens. Co-founder David Hoffman acknowledged the error, and stated, “We have repurchased all the tokens that were sold, back to the full amount, and are discussing a self-imposed vesting schedule.”

Similarly, Ahamadeen expressed his disapproval upon learning about the Bankless Ventures sale.

Presale Concerns

Some users on X noted irregularities concerning individuals invited to the presale round, as these users appeared to have minimal activity or following. It was revealed that technical issues with the Daos.fun invite system made it possible for users to create temporary accounts for token allocation.

Responses and Future Steps

Despite the controversies, AICC stated on its suspended X account that it plans to implement a vesting structure for individual allocations. The DAO emphasized its commitment to long-term growth and sustainability.

Meanwhile, Eliza Labs’ founder, Shaw Walters, shared his donation of half of his allocation to the ai16z DAO and 20% to other contributors, advocating for improved structures for future launches. Overall, Walters believed there should be better mechanisms to ensure fair launches in the crypto space.