Very good question. While we wait for the voting session to open up in a few weeks, we have a few things we can do with our $ALGO and $gALGO on Folks Finance rather than have them accumulating dust in your wallets.
The easiest way to cash in on some extra rewards is to deposit your $ALGO into the #folksfinance defi suit. You can also swap $gALGO for more $ALGO at minimum slippage and 2.9-second finality so you can deposit more!
The second option is to add those $ALGOs and $gALGOs to a liquidity pool. These can be found on any of the decentralized exchanges (#DEX) in the environment. Take a look at Tinyman, PactFi, or Humble, navigate to their pool tabs and give the pools a quick review to see which one you benefit from the most. While the APRs look real nice at the moment, it's good to remember that all pools come with risk - impermanent loss is the most common one. You can also try swapping $ALGO or $gALGO for another asset and participate in other pools if you don't want to limit yourself to the classic pools. Once you have those liquidity pool tokens, don't forget to farm them!
From G10, #algofam voted to increase the minimum $ALGOs needed to participate in consensus to 30,000 $ALGOs. While this is a big increase, it was done to secure the chain and reduce the number of spam proposals and bots. You can earn extra rewards through this program, with a whopping 70,000 $ALGO reward pool!
Fourth. You can put your assets into a lending pool (you can find them on the bottom right of the "deposit" tab on Folks). Usually lending pool APRs are higher than the liquidity pools of the same types of assets, however, they do fluctuate so if you participate, keep an eye on those percentages. Additionally if you have you assets in a liquidity pool right now and you participate with those LP tokens in vanilla governance, if you move your liquidity pool tokens out to participate in lending pools, you will lose your vanilla governance eligibility, since lending pools tokens are not on the list of governance tokens.
There are also other things you can do: swapping, buying, selling NFTs; GameFi like Zone, Polynize and Algo-casino; or go meme token hunting on vestige. I'm not very active in those three areas, so I would hate to lead you astray if I said anything wrong.
Invest intelligently however - do your own research!
None of this is financial advice.
