The Algorand ecosystem switched to a decentralized governance system on October 1st. The decentralization of public blockchains is a key component of their success. By being completely decentralized, a public blockchain ensures a network that is globally scalable, secure, high-trust, fair, and equitably distributed.
Starting on October 1st 2021, every Algo holder will be able to receive governance rewards when voting. Once you have placed Algo in your wallet there are 3 simple steps . Beginning Oct 1st,
- Step 1: Commit your Algo for the 90 day voting Period
- Step 2: Second, Vote on all Measures .
- Step 3: Claim your governance rewards at the end of each voting period.
It explains how much total algorithms were granted as rewards after the first period. And how many transactions did they grant those incentives.
Here we can see ,
- How many Algos were distributed in rewards for period 1?
- The 60.00M Algos were distributed in rewards for period 1.
- How many Algos were distributed in rewards for period 1?
- In 48.80K transactions the total rewards were distributed.
- How long did it take Algorand to distribute these rewards?
- In this case, if we compare the start time and end time, we see that the whole distribution process took around 14 hours.
- How much did it cost in fees to distribute these rewards?
- There have been 97.60 ALGO tokens spent on gas in total.
Below is a graph showing the distribution of rewards sizes. The distribution of rewards was done using buckets. Approximately 41.28% of all receivers contributed less than 1 token bucket.The lowest total Receivers are found in the 500K – 1 Million Token bucket, and the highest total Receivers are found in the Less than 1 Token bucket.