December Long Term Economic Improvement Proposal

We would like to thank everyone who has participated in the EIP review process during the two 30-day suspension periods.  We received a number of interesting ideas and proposals from the community. The Foundation, with the guidance of the EAC, would like to put forward EIP-11252019AF (here) for a conditional accelerated vesting schedule for review and consideration.  The intention is to put this EIP to a vote later this week, prior to the end of the suspension period. Details on next steps and voting mechanics will be shared on Tuesday, November 26.  In the meantime, we welcome your feedback and comments.

As discussed throughout the suspension period, the EIP to adjust the vesting schedule is just one part of a comprehensive plan to address token stability.  The Foundation is committed to a return to token auctions in support of ecosystem development, adjustment to participation rewards and deploying other measures to improve the economic design and drive network participation. Just last week, we launched Algorand 2.0, a major protocol upgrade that enables the creation of more complex and innovative real world applications that leverage the layer-1  scale, performance and security of the Algorand protocol.  In addition, we wanted to reiterate the Foundation’s commitment to both decentralizing the network and governance, and will share  steps toward that goal once the current economic challenges have been addressed.

We will be available to discuss this EIP and answer any questions of yours over the next few days.  Please feel free to reach out to us via our Telegram, email or other channels.