March 3rd, 2022 - The Algorand Governance Period 2 Vote is now complete and Option A, the creation of an xGov tier, is the choice of the Algorand community. Of the 2.8Bn Algo committed by 37.8k eligible governors, 95% of the vote was in favour of Option A.
The Algorand Foundation will now begin the process of community engagement to gather views and input on how best to facilitate the xGov tier and the structure and responsibilities of xGovs.
Detail ( https://governance.algorand.foundation/governance-period-2/voting-session-q1-2022 ) :
- Number of Algorand Governors who voted: 37.8k
- Amount of Algo Committed: 2.8 Billion Algo
- Governance Rewards for Period 1: 70.5 Million Algo
- Governance Rewards Rate for Period 1 ( assuming no Governors become underfunded during the balance of this period ): 2.5%
- Annualized Governance Rewards Rate : 10%
Governance rewards will be distributed after the Governance period finishes. It is critical for Governors to understand that they must not allow their governance wallet balance to fall below their committed amount - otherwise they will be automatically excluded from the Governance period and its associated rewards.
