Embrace the future with Algorand. Yieldly, Algorand Governance

By SAGE84 | I-Love-Crypto | 4 Jan 2022

Embrace the future with Algorand. Yieldly, Algorand Governance


 Before I talk about the great things he will accomplish today and in the future, I will give you a brief introduction to how Algorand was born. Algorand was awarded by Silvio Micali, Professor of Computer Science, who received the Gödel award, which was given for the first time in 1993, and also received the Turing award in 2012, and who has studies on Cryptology and Information Security at MIT, a world-renowned University. It is a blockchain project whose foundations were laid.


Algorand, a blockchain project with a solid foundation with transparency, has the decentralized "Blockchain Spirit" desired by Satoshi Nakamoto, which solves the "problems" experienced by Ethereum and other cryptos, such as security, scaling, hard forking, speed and high network fees. has proven its difference from the first days until now and has started to show the gap caused by its superiority. It would be very unfair not to mention that Algorand is open source and can be developed without the need for permission from any authority. The most important representative of Decentralization (Blockchain Spirit). As a result of this development stage, Algorand blockchain decided to transfer the "Governance Responsibility", which the Algorand Foundation assumed, to the Algorand Community as the highest level that a blockchain could reach, such as decision-making power (financing of grant proposals, etc.) on issues not covered by the consensus. a self You can read this article about the features described in the figure. https://cryptolike.tk/2021/02/14/algorand-nedir-ve-ne-ise-yarar/



Community Governance


The deadline for joining the 2nd term of Algorand governance ends on Friday, January 7th.


 The new governance transition process will be implemented in two phases and will begin in September 2021. Some issues will be completed off-chain until full control is achieved during the transition process. As of the first months of 2022, the transition process will be completed and a complete system that does not stay out of the chain will be created by providing all control with smart contracts. In this way, the governance undertaken by the Algorand Foundation will now be entrusted to the "Managers" who will have a say in the future of Algorand by committing their Algos for a period of 3 months. In this process, when the Algorand Foundation calls for voting on technical and economic decisions, the Administrators will participate in the voting and shape and shape the future of the Algorand ecosystem. The manager's vote will be at the same rate as the amount of Algos it has committed, in short, 1 Algo will be worth 1 vote.

Algorand Wallets

 First of all, I would like to say that Algorand has two main wallets. Since I have given detailed information about these wallets before, both a blog post and a video, I will only share the links here. How to create a "My Algo Web Wallet" https://6yolunbilgesi.blogspot.com/2020/12/algorand-web-cuzdan-748-apy-kazanc-ile.html You can reach my article about "Algorand mobile wallet" from this link https://6yolunbilgesi.blogspot.com/2020/11/algorand-algo-mobil-cuzdan-ile-algorand.html. Of course, in these articles where I gave information about how these wallets were created, we also gave information about Algorand staking, which is the opportunity to win the Algorand award. However, much more than Algo rewards earned with Algorand Staking will now be distributed to Admins who have pledged their Algos and met the terms, as described above, when Algorand's new Governance is fully implemented.

I would like to mention just two of the private wallets that support Algorand. These are the "Atomic Wallet" and "Trust Wallet" wallets that have been around for a long time. These wallets also offer Algo Staking opportunities with 7.2% Apy like Algorand's original wallets, but as I mentioned above, these special wallets will have to change when rewards are started to be distributed as "Manager Staking" in the future. Also, I always recommend using original wallets. If you are going to use these special wallets, I do not recommend you to transfer coins immediately without researching thoroughly.

Algo Listed On All Major Exchanges

Algorand is a promising coin that has been recognized and listed on all major and successful exchanges (Binance, Coinbase, Huobi, Okex, KuCoin, Kraken, Bithumb, Bitfinex, Gateio etc.). Exchanges generally have trading pairs as "Btc, Eth, and Tether". However, exchanges also open trading pairs with local currencies (Usd, Eur, Gbp, Rub, Try etc.). From this link, you can get information about which exchanges Algorand is listed on more and about trading pairs with other currencies. https://coinmarketcap.com/currencies/algorand/markets/

Algorand Defi


 I will provide you with information about my favorite episode, Defi, with Algorand. We have suffered a lot because Defi is generally built on Eth. Eth's endless high network transfer fees and slow transaction speed did not make me any money in Defi, on the contrary, the transfer fees I paid put me in financial losses. In this article, you can read about the negativities I experienced in an Eth defense project, where I participated for trial purposes and invested 13 DAI to test the platform. https://cryptolike.tk/2021/02/13/defiye-yatirim-yamadan-bunu-izle/

The first Defi project of Algorand, Yieldly, can be found at “https://app.yieldly.finance/”. Yieldly dazzles me as the most beautiful fashion show I've ever tested. It has already begun to prove to us the infinite power and potential of Algorand with the values ​​it produces. The platform is way ahead of other defi projects because I tested a lot of defi projects built on Eth. And as someone who has participated in Compound, one of the most established of these projects, and has invested in defi there, I say that there is a written and video user manual showing you how to do everything on Yieldly, the transactions are transparent and understandable thanks to this guide, and the transaction is as low as 0.001 Algo. Fees and fast execution of your transactions are luxury features that the Eth defense projects I mentioned above cannot offer you..!


Now I would like to talk about the transactions we can do on the Yieldly platform.

1. By staking Algorand, you can participate in the weekly no-loss lottery by buying a ticket. There is a rate of 1 Algo = 1 Ticket. As you can see in the picture below, I bought 15.92 Tickets with 15.92 Algo Stakes and participated in the weekly lottery without loss. You need to pay attention here, stake Algo and buy tickets immediately before the lottery draw ends. If the weekly lottery period ends and you buy a ticket after the other weekly lottery starts, you will be eligible to participate in the next lottery..! I bought a ticket after the 13th Sweepstakes started, so I was entitled to participate in the 14th Sweepstakes. You must buy a ticket before the deadline I mentioned in the picture below. Also, for staking Algorand, Yieldly gives me its own token, YLDY token. Thanks to these YLDY tokens, I am participating in YLDY staking, which I will talk about as the 2nd.

2. I earn both YLDY and Algorand with YLDY staking. Of course, in order to buy the YLDY token off-platform and increase your staking share, I recommend you look at the platforms where the YLDY token is traded. Since I have done research on this subject, I can say that it is cheaper to buy from the MEXC exchange than from Uniswap, which is built on Eth. Because if you buy YLDY from Uniswap, you will withdraw the token to your Metamask wallet, and when you use a bridge to send the token to the Yieldly platform with Metamask, you will encounter an ETH gas fee of $20 or more. (When I tried this process, there was a $20 fee..! :) ) However, you should still do your own research considering the changing market conditions. You can reach the Exchange where the Yldy token is sold from this link. " https://www.mexc.com/en-US/register?inviteCode=mexc-sage84 "


3. Thanks to the YLDY tokens we stake, you can buy tickets for the weekly NFT lottery draw, which is a new addition to the platform. Yieldly immediately added the popular Nft market to its platform and made it available to us thanks to a weekly lottery. The only thing you will do to earn Nft is to approve the smart contract to buy tickets, thanks to the YLDY tokens you stake. You can buy tickets with 1 YLDY token = 1 Ticket. As you can see in the picture below, the first weekly draw took place, and then it was updated to have 3 draws per week instead of 1. The good thing is that you can participate in these 3 draws with the YLDY you stake. You can only participate in one sweepstakes, but I entered 3 sweepstakes. :)


 After all these beautiful things, I want to talk about something beautiful again. When staking Algo, the Yieldly platform always leaves at least 2 Algos in your My Algo Wallet wallet to cover the 0.001 Algo transaction fees required for smart contracts. You know that for every Algo left in the Algorand wallet, Algorand also gives a stake reward. In other words, as you can see in the picture, I pay the 0.001 Algo transaction fee I paid for the transactions I made on Yieldly with the award I earned from my Algo. In short, my transactions in Algorand, which has a very small transaction fee compared to Eth, are "Free"..! :)

You can reach the Exchange where the Yldy token is sold from this link. " https://www.mexc.com/en-US/register?inviteCode=mexc-sage84 "

Important Note: The information given here is for informational purposes only and is not investment advice..!

Algorand is a blockchain that touches and uses real life

I would also like to mention that there is a Blockchain that tries to make it easier and better by touching our real life, with its benefits that we cannot end by explaining above.

After the industrial revolution, our world started to get polluted rapidly and the clean air necessary for life decreased in our cities and appeared as "air pollution", which is a very big problem. Thanks to its low-cost and high-performance air quality monitoring sensors, Planetwatch copies the data obtained by users who use these sensors indoors (in their homes) and outdoors (works and social areas) to Algorand and is an air quality warehouse with transparent and reliable information that can be accessed by everyone. creates. Planetwatch encourages this data provided by users by rewarding it with " PLANET " token which is Algorand Standard Asset ( ASA ).

We need to drink a cup of coffee to reward ourselves while struggling with Air Pollution. At this point, Cafe Barbera comes into play.

Cafe Barbera is a very rooted Coffee brand and business located in more than 60 countries on 5 continents. Cafe Barbera also uses Bleumi Pay, which offers a solution for businesses that have partnered with Algorand to adopt digital currencies for daily payments and accept them as payment.

Cafe Barbera offers this partnership a special promotion by offering discounts for customers on product purchases when paying with Algo.

The one-to-one representation of one of the price coins, USD, on the blockchain, Tether's USDT and Circle's USDC stablecoins are also the largest stablecoins to partner with Algorand.

Algorand is a carbon negative blockchain that fights for a better world and to protect our future with a lot of companies that we can't finish talking about above. Because of this feature, Climate Trade also partners with Algorand. Climate Trade is a company that aims to finance carbon offset, climate change projects and enable companies to achieve their sustainability goals.

You can find more information about Algorand's real life touches and other partners that I mentioned briefly, from this link. https://www.algorand.com/ecosystem/use-cases

It is not investment advice, it is written for informational purposes only. Thank you for reading.


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