In a strategic move to bring another impactful use case to ATOM, AADAO has awarded Lum Network with a $100,000 grant to build an incentive-based lottery named Cosmos Millions.
This initiative, inspired by PoolTogether in the Ethereum ecosystem, aims to leverage ATOM yield to distribute prizes to winners, presenting a unique opportunity for the Cosmos Hub community. With a Protocol-Owned Liquidity (PoL) allocation, this project bring forward this new way of using ATOM as capital.
Alongside efforts in driving growth to ATOM Total Value Locked (TVL) and further stakeholder adoption, the project also aims to expand its offerings by adding two more pools: Mad Scientist for OSMO and Lucky Star for Stargaze. This expansion is expected to attract even more participants and diversify the opportunities for users within the Cosmos ecosystem.
By supporting Cosmos Millions, AADAO not only introduced a novel use case for ATOM but also demonstrated the potential of targeted grants to drive growth and innovation. We look forward to seeing the effectiveness of leveraging PoL within the Atom Economic Zone (AEZ).
Update Feb 5, 2025: The Cosmos Millions initiative was one of the first grants awarded under AADAO’s initial mandate. As AADAO entered its second term with a more defined focus, it became apparent that this initiative was no longer aligned with ATOM’s intended use cases. After discussions with the Lum Network team, the grant was ultimately refunded and the initiative was discontinued.
