G6 Commitment Period Ends: Over 4 Billion $ALGO Earning 5-14% APR

Algorand Governance

Algorand G6 Commitment Period Ends

The commitment period for the 6th period of Algorand governance (G6) has ended since yesterday. As users seek to gain passive rewards and let their voices be heard, a total of over 4,100,000,000 $ALGOs have been committed to this period, according to algoexplorer.io

This can be compared to measly 1,800,000 ALGOs being committed in the first period of governance (G1). 

Voting topics for G6 are yet to be relieved by the Algorand Foundation.

Algorand Governance 5 Period Results

In the last G5 period of Algorand governance, committed users voted on 5 different measurements. 

As a result it was decided that 15 million $ALGOs will be allocated to the DeFi for the current G6 period, as well as allocating 2 million $ALGOs to as grants to community pilot projects through the xGov system and 300,000 $ALGOs to community curated NFT collections. 

Consequently, the total rewards allocated to G6 period was reduced to 68,200,000 ALGOs compared to the 70,500,000 in the previous G5 Period. 

Rewards Over 5% and 14% APR

Currently, Algorand G6 is set out to pay over 5.09% APR (Annual Percentage Rate) to committed Algorand user who follow through with the voting and remain eligible until the end of the period on 31th of March 2023. For those who have committed through the DeFi systems like AlgoFi and Folks Finance, the APR is at the moment calculated to be 14.67%, according to Folks Finances own platform

Access the official page for Algorands governance program directly on the Algorand Foundations website.

Article Author: Martin
Follow on Twitter: AlgoDaddy