Some time near the end of $ALGO governance session 10, Folks Finance, along with the Algorand Foundation announced the following:
- The #xGOV program will be paused for new inscriptions. However, the xGovernors who are already participating will still continue to participate. Although I don’t know what this will mean for the reward pool, we will surely find out soon.
- The $xALGO program on Folks Finance will be sunsetting and will be absorbed by the consensus program. Although I hate to see the bridges to $AVAX and $BNB become obsolete, I consider this as a good move in preparation for the future of decentralization. With that said, those who have not yet burned their $xALGO back to $ALGO yet, regardless of chain, please do so. The burn and redeem window closes in a few days!
- A new #zealy sprint is now active! Everybody join up and compete for rewards from a 50,000 $ALGO pool!
- $gALGO and leveraged commit are still working normally.
- New investors and partnerships with companies such as BlackDragon, Skybridgevc, Wormhole, ChainLink have been announced previously as well.
So with all these changes, you may be wondering — what is my strategy? Last governance session, just from liquid gov rewards and zealy rewards I made about 25% of the $ALGO I staked on Folks Finance. If that isn’t lucrative, I don’t know what is. On top of that, I was granted the priviledge of being a #FOLKSALPHA member, giving me special access to information to the future of Folks Finance.
So this governance session, I will somewhat repeat my strategy. I will be placing most of my $ALGO into #liquidgovernance on #FolksFinance. With the $gALGO, I’ll swap half for $ALGO and place both into a LP on Tinyman and use those tokens to sign up for vanilla governance. Once the governance sign-up period, I’ll start farming for rewards on those LP tokens on Tinyman. However, there is one slight change in this strategy. I realized last gov session that the lending pools were providing 4x-6x the APY than the LP. So if that is the case this time, I will switch from LP to Lending Pool. I know that by doing this, I will forfeit my vanilla governance rewards, however, if the APY on the lending pool is higher than the farm and governance combined, then I am willing to make the change.
None of this is financial advice. This is just my strategy. Good luck to everyone this governance session! Don’t forget, the sign up window closes in about 3 days!
