Algorand's second governance period runs through March 31 — here's a breakdown of eligible governors, committed Algos, and period rewards as of March 11.
Changes since last week
Period 2's committed Algo count lost 720,000 Algo over the past week. This 720,000 decrease is tiny compared to last week's drop of 171 million. The past week's Algorand governor drop was similarly small at only 167.
Period 2's reward rate did not appreciably change between March 11 and March 3. Period 2's reward rate remains about 2.5 percent.
Last week's governance eligibility update is available here.
Period-2 vs Period-1
There are currently 37,614 governors eligible for Period 2's rewards. Period 2's rewards will likely be distributed just after March 31 when the period closes. Period 2's xGov proposal voting period closed Feb. 28 with a majority A vote.
Period 2's eligible committed Algos at this time remain larger than Period 1's eligible Algos at the period's close — 65 percent larger, to be exact, at a current total of 2.82 billion. The number of Period 2's eligible governors however is now lower than Period 1's by about 25 percent.
Period 2's current eligible committed Algos provide a 2.5 percent reward rate. Period 1's reward rate was slightly larger at 3.5 percent. Period 2's reward rate is not likely to change by much, considering the end date — March 31 — is so close.
Period-2's whales
Period 2's largest current eligible whale controls 4.9 percent of the total committed Algo. Near 50 percent of Period-2's total committed Algo is currently controlled by the 25 largest governor accounts. And the top 100 governor accounts still eligible control 82 percent of the committed Algos.
Interestingly enough, Period 2's top 100 whales are slightly more decentralized than Period 1's.
Final thoughts
There was basically no change between this week's and last week's governance eligibility numbers. I presume the large drop in eligibility caused by last week's vote closure removed a lot of the folks who would have dropped out over time.
I'm excited to close out this governance period. I haven't seen or heard anything about Period 3, but I'll keep my eyes out.
Thanks for reading! Previous weekly updates:
- Algorand governance period 2 eligibility update — March 3
- Algorand governance period 2 eligibility update — Feb. 23
- Algorand governance period 2 eligibility update — Feb. 16
- Algorand governance period 2 eligibility update — Feb. 9
- Algorand governance period 2 eligibility update — Feb. 2
Thumbnail photo by Benjamin Ashton on Unsplash.
