Algorand governance period 2 eligibility update — March 17


Algorand's second governance period runs through March 31 — here's a breakdown of eligible governors, committed Algos, and period rewards as of March 17.

Changes since last week

Period 2's committed Algo count lost 630,000 Algo over the past week. This 630,000 decrease is on par with last week's drop of 720,000. Period 2's eligible governors also experienced a modest drop, losing 131 between March 11 and March 17.

Period 2's largest weekly change remains Feb. 28-March 3. Over 24,000 governors lost eligibility because they did not vote before the voting period closed Feb. 28, reducing Period 2's committed Algo count by 171 million. You can read about this drop in the March 3 eligibility update

Period 2's reward rate did not appreciably change between March 17 and March 11. Period 2's reward rate remains about 2.5 percent. 

Last week's governance eligibility update is available here

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Period-2 vs Period-1 

There are currently 37,483 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 2.81 billion. Period 2's eligible governor count however is 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.   

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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. 

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Final thoughts

There was basically no change between this week's and last week's governance eligibility numbers. Period 2 closes in 14 days on March 31. I presume most eligible governors at this point are willing to maintain their committed Algos for the final two weeks unless something extraordinary forces them to access their funds. 

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:

Thumbnail photo by Marius Oprea on Unsplash.

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simplyrangel
simplyrangel

Aerospace engineer interested in all things data science and cryptocurrency. Based in Houston, Texas.


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