Cardano-native · Mainnet
Atlas on Cardano
A UK first hospitality platform built from the ground up with Cardano at its core. Registered DRep AtlasFD. Public grant transparency wallet. Every rail below is in the codebase, and every status on this page is what the database can evidence, nothing more.
Governance action · Treasury Withdrawal
The proposal at a glance
Submitted 09 August 2026 by Atlas Group Technologies Ltd (UK company no. 13937385). Every figure below is taken verbatim from the governance action document, so download it and check.
Read the full proposal (PDF)- Requested
- ₳ 16,666,667
- Tranches
- 6
- Treasury return
- £6,000,000
- Window
- 18 months
£2,000,000 at £0.12/ADA
quarterly exit gates, ≥80% rule
then 3% in perpetuity
public beta from Month 6
Where the ADA goes
- 50%£1,000,000
Hiring & staffing
19 roles: engineering, sales, marketing, support, compliance
₳ 8,333,334
- 35%£700,000
Marketing & acquisition
UK + early EU: campaigns, city activations, PR, creators, ambassadors
₳ 5,833,333
- 15%£300,000
Operations, compliance, audits & legal
ICO, FCA S21 + MLR 2017, ISO 27001, SOC 2, audits, infra, ~£60k sponsored NFT min-UTxO
₳ 2,500,000
Six milestone-gated tranches
Tranche 1 releases on approval. Every later tranche needs independent Grant Oversight Committee sign-off of the relevant quarterly exit gate, and a quarter must hit ≥80% of its gate targets to unlock the next tranche. Miss it and the tranche is paused pending an accepted remediation plan; miss two consecutive gates and the remaining tranches return to the Treasury. Tap a tranche to read its deliverables and its gate in full.
Key deliverables in this window
- Closed beta live
- Universal Cardano Anchor on testnet/staging
- Wallet + NFT pipeline proven
- ≥500 beta / waitlist sign-ups
- WAU ≥500
- ≥30 venue LOIs
- ≥30 Atlas Vault articles
- ≥2 podcasts
- Security platform live
- Legal filings started
- Core hiring underway
Release condition · Released on approval. Foundation Gate (end M6) then unlocks Tranche 2
- Closed beta live
- Anchor on testnet/staging
- Wallet + NFT pipeline proven
- ≥500 beta/waitlist sign-ups
- WAU ≥500
- ≥30 venue LOIs
- ≥10 multi-site meetings
- ≥15 creator partnerships in progress
- ≥30 Vault articles
- ≥2 podcasts
- Security platform live
- ICO + FCA Section 21 started
- Core hiring underway
- App Store / Play submissions prepared or submitted
Tranche 5 uses interim bridge targets so it does not require full M15 delivery before the final tranche; Tranche 6 carries the final M15 Cardano and commercial targets. Cumulative Cardano transaction counts are ledger submissions only; the Universal Cardano Anchor contributes one transaction per hour and is a proof layer, not the main volume driver. Each release is published with transaction hashes and supporting evidence.
What Cardano gets for it
The on-chain outcomes the tranches are gated against. These are the numbers to hold us to.
| Outcome | M6 | M9 | M12 | M15 |
|---|---|---|---|---|
| Net new Cardano wallets | 6,000 | 16,000 | 28,000 | 40,000 |
| Cumulative NFT mints | 15,000 | 55,000 | 120,000 | 180,000 |
| Unique Atlas NFT holders | 5,000 | 14,000 | 25,000 | 32–35,000 |
| Cumulative Cardano txs | 0 | ~150,000 | ~350,000 | 500–700,000 |
| Venues with ≥1 ADA tx | 25 | 75 | 150 | 200–250 |
| ADA-settled commerce | £0 | £0 | £0 | £150k–£250k |
| Marketplace GMV (cum.) | £10,000 | £40,000 | £80,000 | £125,000 |
If we underdeliver
- A quarter must hit ≥80% of its gate targets to unlock the next tranche.
- Miss a gate: tranche paused, remediation plan required, Oversight Committee vote to resume.
- Two consecutive missed gates: remaining tranches returned to the Treasury.
- Reporting missed for two consecutive monthly cycles triggers mandatory review.
- If ADA appreciates so a tranche exceeds operational need, the surplus ADA is returned rather than scope expanded.
For the ecosystem
Why this matters to Cardano
Real-world adoption
GBP front-end, ADA back-end. Prices are quoted and displayed in pounds; ADA is the settlement rail underneath at a rate locked at quote time, with creator tips and reward payouts made in ADA directly. Cardano is in the architecture, not bolted on.
Hospitality vertical
UK independent venues lose ~£3.2bn/year to commission platforms. Atlas offers 0% commission, native ticketing, and Cardano settlement.
Verifiable records
Venue agreements, check-ins and loyalty events are hashed and enqueued into one hourly Merkle-root transaction under metadata label 1904, giving immutable proof of compliance and execution, with no personal data on chain and flat cost as volume grows.
Accountability
Who is building this
A named UK company with a Companies House record, a named accountable officer, and an on-chain DRep identity that ties the two together. Nothing here is anonymous.
Atlas Group Technologies Ltd
Company no. 13937385 · England & Wales
Verify on Companies HouseConnor Hart
Founder & CEO, covering product, hospitality operations and Cardano integration
hello@atlasfoodanddrink.comRegistered DRep AtlasFD, with CIP-119 metadata served from the Atlas domain so the company and the DRep are provably the same party.
Shipped before asking for a single ADA
- Consumer app + venue SaaS liveDiscovery, bookings, ticketing, menus, loyalty and CRM in production on web and wrapped for iOS / Android.
- Registered DRep on mainnetCIP-1694 DRep AtlasFD with CIP-119 metadata published, and CIP-100 rationale publishing built and ready for the first vote.
- Universal Cardano Anchor runningHourly Merkle-root transactions under metadata label 1904; 46 confirmed mainnet batches submitted in July 2026, with the hourly cadence paused pre-launch and resuming at public beta. Hashes only, no personal data on chain. Batches are near-empty pre-scale; cost stays flat as volume arrives.
- ADA and Bitcoin rails built and reconciledGBP-denominated checkout settleable over ADA with CIP-20 receipt references, Bitcoin via Spark L2 with per-payment derived addresses, and daily reconciliation against chain. No settled volume yet; the rails exist ahead of the users.
- Cardano wallet inside the appUTXOS-powered Atlas Wallet plus CIP-30 support for Lace, Eternl, Vespr, Yoroi and Typhon. Atlas never holds a user key.
- NFT pipeline proven end to endTen CIP-25 milestone mints confirmed on mainnet, and all 1,000 numbered Founding Voter editions pre-rendered and verified so metadata and artwork can never disagree. No Founding Voter edition has been claimed yet.
- Public transparency surfacesThis page, the grant wallet ledger, the artefacts table and the touchpoint register, all reading live data.
Risk register
What could go wrong, and what happens then
Stated plainly rather than buried. Each risk is paired with the control that already exists in the funding structure, not a promise to think about it later.
ADA price volatility against a GBP-denominated budget
The ask is modelled at 1 ADA = £0.12 and released in six tranches, not up front. Tranches convert only as needed for the quarter ahead. If ADA appreciates so a tranche exceeds operational need, the surplus ADA is returned to the Treasury rather than the scope expanded.
Venue adoption slower than modelled
Venue targets sit inside the quarterly exit gates, so slow adoption pauses funding rather than quietly burning it. Bronze is free and QR-led, which lowers the cost of a venue saying yes, and the 0% commission position is the wedge against OpenTable, SevenRooms and ResDiary.
Key-person dependency on the founder
50% of the budget is hiring: 19 roles across engineering, sales, marketing, support and compliance, with senior engineering and commercial hires inside the first two tranches. Infrastructure, keys and deployment are documented rather than held in one head.
Custody of grant funds
Preference is Intersect-administered milestone release on the Sundae Labs treasury contract framework. Fallback is a segregated, abstain-delegated Atlas grant wallet under 2-of-3 dual control, with the address published on this page for continuous audit.
UK regulatory timing (ICO, FCA Section 21, MLR 2017)
Filings are gated milestones, not afterthoughts, and £300,000 is ring-fenced for compliance, audits and legal. Crypto features are structured as rewards and settlement rather than investment products, and no token is issued.
On-chain volume forecasts not met
Forecasts are stated as ranges and reported monthly against live counts, which anyone can re-derive from Blockfrost. The hourly anchor is a proof layer contributing one transaction per hour; it is deliberately not counted as the volume driver.
GDPR exposure from putting data on a public ledger
Atlas anchors proof, not data. Fingerprints go on chain, personal information stays in the database and stays deletable on request. Anchors carry salted hashes inside a Merkle tree, receipts carry opaque references, and erasure is honoured off-chain because the on-chain leaf is not personal data.
Project fails or is wound down
Two consecutive missed gates return the remaining tranches to the Treasury. Reporting missed for two consecutive monthly cycles triggers mandatory review. Unspent ADA is returned, not retained.
Pause, remediation and wind-down commitments
- A quarter must hit ≥80% of its gate targets to unlock the next tranche.
- Miss a gate: tranche paused, remediation plan required, Oversight Committee vote to resume.
- Two consecutive missed gates: remaining tranches returned to the Treasury.
- Reporting missed for two consecutive monthly cycles triggers mandatory review.
- If ADA appreciates so a tranche exceeds operational need, the surplus ADA is returned rather than scope expanded.
Before you vote
dRep questions, answered
The questions we expect, answered here rather than in a comment thread. If yours is not here, ask directly and the answer gets added to this page.
Because the Treasury should not need a liquidity event to be repaid. From Month 19 Atlas pays 10% of gross platform revenue until the Treasury has received £6,000,000, then 3% until the platform ceases or 25 years from the grant date. There is no Atlas token, no equity issued to the Treasury and nothing for anyone to speculate on.
Still unanswered? hello@atlasfoodanddrink.com and we are happy to join an AMA or a live call before the vote closes.
Get involved
Lend your voice to Atlas
Delegate your voting power to Atlas, share this proposal with your DRep network, or download the full pack.