Don' forget to participate in governance on Algorand to earn additional 6-24% APY

Hi guys,

Algorand finally has some on-chain governance were hodlers can shape the future of ALGO and earn rewards for doing that. Depending on how much ALGO is being used for voting, you can get up to 24% additional rewards on top of the regular 6% that all ALGO hodlers are getting.

To participate you only have to "commit" you ALGO to governance by connecting an ALGO browser wallet to the governance page of the Algorand Foundation site. Your committed ALGO is technically not locked, but you will only get rewards if you don't use your funds during the governance period.

You can commit ALGO until the 14th October and this very first governance period will end 31st December. The first proposal you can vote on is about whenever or not the participants of governance should only not get rewards if they don't vote, or if they should also get 8% of their committed ALGO slashed.

If you are a ALGO hodler and you believe in the networks future then participating in governance should be a no brainer for you, if not for the governance then at least for the rewards.

You have time until the 14th!

I wrote a slightly more detailed version on publish0x if you are interested