This proposal's aim is to decide on holding an AlgoFund private sale to raise funds for the audit.

With the latest successfull launch of our testnet IDO, we're on track to move our Launchpad service to the mainnet before the end of this quarter. However, we believe that the security of the launchpad service should be confirmed by auditing experts before hosting new project IDOs. The main issue we're facing at this point is the lack of funds to cover the audit fees for the smart contracts.

We have decided to hold our own private sale using a portion of the project's reserve tokens. The private sale will be held using our launchpad service and participants will be able to submit $ALGO and receive $WALGF tokens with an exchange rate of 1 $WALGF = 1 $ALGF based on the market price of $ALGF at the end of the submission phase.

$WALGF holders will be able to claim 1.5 x equivalent amount of $ALGF by staking their $WALGF for 3 months in a $WALGF - $ALGF staking pool. More details Here.

Users will decide on holding the private sale by voting:

• Yes: A private sale for $ALGF holders could be held
• No: A private sale for $ALGF holders shouldn't be held