The path to decentralization and community governance has taken another important step today with the ending of the first Commitment window for Algorand Governance Period 1. The window is now closed with the following key statistics:
Number of Algorand Governors: 70,927
Amount of Algo Committed: 1,886,463,826 Algo
Total Value Locked ( TVL ) in Governance, using the token price at closure ( $1.87 ): $3.53 Billion USD
Governance Rewards for Period 1: 60,000,000 Algo
Governance Rewards Rate for Period 1 ( assuming no Governors become underfunded during the period ): 3.2%
Total, Annualized, Reward Rate ( including annualized participation rewards rate of 4.85% ): 17.6%
It is important to note that, up to the end of 2021, all Algo holders will continue to receive their participation rewards directly into their accounts as they do today. Governance rewards will be claimed after the first 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.
Over the next 2 weeks, in order to provide comprehensive context, the Algorand Foundation will provide information on the progress of Ecosystem development and further information on the measure to be voted on. This will enable governors to be as informed as possible in preparation for voting.
