Algorand will suspend node rewards for 30 days from October 1st and will continue to explore economic improvement plans

The Algorand Foundation announced on September 30 that the node’s daily suspension of the voting vote initiated last week has ended, and the proposal has been approved by a majority vote (more than 50% of the operating nodes). That is, from October 1st, the node reward will be suspended for 30 days. There were 53 votes in favor of this vote, 9 votes against and 19 abstentions. During the 30-day cessation, the Algorand Foundation will work with community and relay node operators to discuss and vote through a comprehensive economic improvement program to address the impact of relay node rewards on the long-term supply of algorithms. According to previous news, the Algorand Foundation received the proposal codenamed EIP-09032019AC on September 3, which was proposed by Algo Capital and proposed to extend the current 2-year linear day award for relay node operators to a 5-year linear day award. Then on September 9, the Foundation received another proposal from Polybius Capital, codenamed EIP-09092019PC, which proposed a 30-day suspension of relay node rewards in order to allow sufficient time to consider modifying the current rewards program. (Note: EIP-09032019AC).