On August 6, the Algorand Foundation announced the launch of the staking mortgage incentive program, which plans to allocate 200 million Algos to the entire Algorand community as a collateral reward, while the Dutch auction will be suspended this quarter.
In this rewards program, each Algo participating in each of the participating participants will receive at least one Algo award, and the final participant may receive more than 200% of the reward (if only 25 million participated, half a year) Revenue is 200%).
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As for the participation qualification, participation method and reward distribution details of the staking mortgage reward scheme? See Algorand Official: "Reward Programs | 200 Million Algo Stake Holding Reward Program Details"
However, this incentive program is only open to the first 200 million participating Algos, and any subsequent Algos are not eligible to participate in this rewards program.
Algo holders participating in the program are required to first designate a specific wallet and send a micro-transaction to the Algorand fund family to participate in the program before 23:59 (Singapore time) on August 31, 2019. The program will last for two years, with a cycle every six months, at which the reward token will be allocated to eligible participants.
After the announcement of the news, according to the Global Data of Alpha, Algo has risen for a short time, with a 24-hour increase of 10.88% and is now quoted at 0.77 USDT.
On August 2nd, the Algorand Foundation just announced an early repurchase program. The foundation will refund 85% of the price ($2.04) settled by the investor at the first auction within 7 days from August 23. Today, the staking mortgage reward program was launched, trying to regain market confidence through a series of positives.
The Algorand Foundation's staking mortgage incentive program has somewhat inhibited circulation and reduced selling pressure in the secondary market.
“This reward program should be a good way to curb circulation, and it will motivate everyone to hold. Foundations and companies are not eligible to participate in this reward activity, so it is a complete feedback to the community. This Algo is not from The additional issuance, but from the original auction quota, the Netherlands will be suspended in the third quarter. This policy, in summary, at least for the time being is a positive card for liquidity suppression." Value Analyst Future Odaily Planet Daily analyzes.
Why are the only 200 million Algos involved in the rewards program?
“This is to maintain a minimum of 1:1 reward. The Foundation allocates a total of 200 million Algos, 50 million every 6 months, and the total number of Algos participating is 200 million. If the final participation of Algo is less than 200 million, Or if there are exit or disqualified participants in the middle, resulting in only 5,000 Algos participating in the end, it will make the 5000 Algos worth 200 million Algo rewards. If only one Algo is involved, let him divide the 2 100 million rewards. This is my personal understanding," Future said.
Some investors may have questions: If only 50 million Algos participate in the first six months, can they still be divided into 50 million Algo rewards?
“Yes. The total amount of the award remains the same. If the participant withdraws himself or the amount is below the minimum limit, the remaining people will get more income.” Future replied to the Odaily Planet Daily. .
Retail investors also have their opinions on this staking mortgage incentive scheme. Some people think that the project side is to harvest leeks at a higher price. Some people think that this method is quite good and can reduce the selling pressure in the secondary market.
"If you are optimistic about Algo, you can mortgage it. It is quite long-term. Algo is now at 0.8 USDT. The cost of the reward is 0.4 USDT, and then it is resigned. If you don't like it, you will leave the farm early." Retailer Xiao Wang on the staking mortgage reward plan So comment.