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ALGO · 1w

Algorand Foundation response to the post "Did they circulate another 100 million?"

In case you haven't noticed. Steve from the Algorand Foundation responded in the [post]( Reponse: >All, > >To clarify a number of points made in this thread and to provide some insight. > >The Foundation does not tactically "release" Algo into supply to dampen price fluctuations or to alter the impact of the market. The value of the Algo is entirely driven by market dynamics. > >The long term, planned distribution of Algo into the market is laid out clearly here: []( > >As you can see from this page, there is a clear plan for the distribution of Algo into the community based on a number of mechanisms. These mechanisms include participation rewards, early backer program, funding for grants. Over the course of this year, the base plan for Algo diffusion into the community is approx. 400M to 500M Algo for the year. There is a condition that may accelerate this (see pt. 5). > >The distribution of participation rewards and early backer program vesting is daily and so every day the supply increases. > >There has been an acceleration of the daily early back program vesting, in line with the rules of the early backer program - this is based on 30 day rolling average exceeding a high water mark, and then continuing the next day or not, depending on whether the 30 day rolling average is above or below the new high water mark. This doesn't increase the size of the total vesting to this group, it merely accelerates the vesting. This is done on a daily basis. > >There is no single 100M Algo diffusion activity that has occurred this year. It would be my suspicion, that the team at []( may have realized that they were miscounting a number of wallets or...
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[email protected] points out the high speed and minuscule transaction fees of $USDC on Algorand in his new @CoinDesk article, ‘Where Value Is Going in Blockchain Networks.’ Check it out 👇