Vote Results: Relay Node Runners Suspension of Daily Rewards for 30 Days

As outlined last week, the relay node runners completed a vote yesterday to suspend their own daily rewards for a further 30 days. This proposal was put forth to allow further time for the continued development of an improved plan for the relay rewards that supports the long term vision of the Algorand network.

Of the node runners earning daily rewards as part of the early relay node running incentive programs, here is the outcome of their votes:

  •  53 YES votes in favor of the suspension proposal
  •  3 NO votes not in favor of the suspension proposal
  •  26 abstained

The votes can be seen in the blocks between 02725950 and 02784400. A parallel process was facilitated by the Algorand Foundation for a consistent amendment to the relevant contracts. Further details on the result of the vote can be found here https://algoprogram.cartan.dev/vote/EIP-10182019ACV. The voting procedures and details can be referenced here.

As mentioned in the voting procedures, the proposal is approved as the majority (over 50% of operating nodes) vote in favor.  With the passing of this proposal, the 30 day suspension will go into effect immediately on October 31st , 2019.

Over the 30 days of the suspension, the Algorand Foundation will continue to work with the community and the relay node runners to expand, and put to vote, a comprehensive Economic Improvement Proposal addressing the impact of relay node rewards on the long term supply of the Algo.