Algorand's second governance period runs through March 31 — here's a breakdown of eligible governors, committed Algos, and period rewards as of March 24.
Changes since last week
Period 2's committed Algo count lost 300,000 Algo over the past week. This 300,000 decrease is on par with last week's drop of 630,000. Period 2's eligible governors also experienced a modest drop, losing 133 between March 17 and March 24.
Period 2's largest weekly change remains Feb. 28 through 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 gained 0.01 percent over last week and is now about 2.51 percent.
Period-2 vs Period-1
There are currently 37,350 governors eligible for Period 2's rewards. Period 2's xGov proposal voting period closed Feb. 28 with a majority A vote. Period 2's eligible governors will receive rewards between April 1 and April 7.
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 2.51 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. Period 2 closes in 7 days on March 31. I presume most eligible governors at this point are willing to maintain their committed Algos for the final week unless something extraordinary forces them to access their funds.
I'm excited to close out this governance period and start Governance Period 3. Algorand holders can commit to Period 3's governance between March 31 and April 14. Period 3's voting topics are not yet released. More information is available via the Algorand Foundation's website.
Thanks for reading! Previous weekly updates:
- Algorand governance period 2 eligibility update — March 17
- Algorand governance period 2 eligibility update — March 11
- 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
