Algorand's second governance period runs through March 31, but a large minority of eligible governors lost their period rewards hours ago. 

Algorandstats.com registered a large drop in both eligible governors and committed Algos. The eligible governor count dropped by 23,782 governors, leaving just under 38,000 governors eligible for Period 2's rewards. 

Screenshots from algorandstats.com at 2022-03-01:01:46:00 UTC. 

The reason why so many governors lost eligibility appears related to Period 2's voting period closure. Voting for Algorand's Period 2 xGov Proposal closed Monday, Feb. 28, 2022 at 0600 GMT. Eligible governors who did not cast a vote by that time lost eligibility. 

Any governors who checked their accounts this morning and saw ineligibility are sure to be disappointed. But the remaining 38,000 who cast votes before the cutoff have a pleasant surprise — the committed Algo drop that resulted from the widespread ineligibility drove Period 2's reward rate to 2.5 percent, or 10.01 percent APR. 

Screenshots from algorandstats.com at 2022-03-01:01:46:00 UTC. 

I'm luckily in the second camp, and the jump in governance rewards makes me happy I took the time to vote several weeks ago. For the remaining governors in Period 2 — cheers!