Announcing Inaugural Auction Audit Publication Date

We would like to thank you our community again for participating in the inaugural token auction of the Algorand Foundation.  

Earlier, we have shared with all auction participants an outline of the safekeeping measures which the Foundation has put in place to ensure that we are able to fulfill our refund commitments to you under the terms of the Auctions.

We would like to take this opportunity to provide an update on this matter.  We’ve engaged with a third party auditor who is conducting an ongoing audit on the refund reserve we have set aside in a segregated account.  The audit will be completed shortly and we plan to publish the audit result on the Foundation’s website on July 24th.  

We’d like to reiterate our commitment to financial transparency and further periodic audits will be performed and reports published to provide continued accountability to our current and future auction participants.