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Governance NFT DeFi

GP7 draft governance measures open for feedback, covering liquidity provision, DeFi rewards and NFT rewards

Draft measures for Governance Period 7 are open for community review ahead of voting that begins on June 1. The proposals cover three areas: liquidity provision, DeFi rewards, and NFT rewards.

The NFT rewards component consists of two measures aimed at increasing trading volumes and user acquisition on Algorand marketplaces. The pilot program would allocate either 250,000 or 500,000 ALGO depending on which option is approved.

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Governance DeFi
Governance Proposal 7 seeks to continue providing 42 million ALGO of liquidity to DeFi protocols

The Algorand Foundation is proposing a measure to continue providing liquidity to the DeFi ecosystem. The proposal follows a pilot deployment of 42 million ALGO to protocols including Folks Finance, Pact, AlgoRai Finance, and Tinyman. If the measure passes, the Foundation will evaluate additional protocols for liquidity extensions; if it fails, the currently deployed liquidity will be gradually withdrawn.

Governance DeFi
GP8 draft governance measures set DeFi reward allocations of 20 to 25 million ALGO

The proposal outlines three measures for the GP8 period. One measure asks if the total DeFi reward allocation should be 20 million or 25 million ALGO. A second measure asks if the Targeted DeFi Rewards program should continue through the remainder of 2023. The final measure asks if the program should be allocated 5 million or 7.5 million ALGO, contingent on the second measure passing.

Protocol Release
Algorand MainNet and TestNet updated to v3.15.1 with a fix for follower sync rounds

The Algorand MainNet and TestNet networks have been updated to version 3.15.1, which includes a bug fix for nodes in follow mode. The update addresses an issue where the initial sync round for followers was not correctly set to the latest tracker committed round.