GP8 Measures DRAFT for Community Feedback - Governance Discussions / Governance Measures - Algorand
GP8 Measures DRAFT for Community Feedback
post by Adri on Aug 17, 2023
A warm hello to the best community on the planet :))))
Governance Period 8 voting will open at the start of September, and we are seeking your feedback on the drafted measures before adding them to the ballot.
The overall governance rewards allocation for Governance Period 9 will be 40M Algo.
As introduced last month, we are posting the proposed measures in three threads to facilitate the discussion, as below:
Topic - xGov Pilot Algo Allocation
Measure 1 - Approval of xGov pilot program allocation top up mechanism
Measure 2 - xGov top up amount
Topic - NFT Rewards
Measure 3 - Repeat of NFT Rewards program with terms and conditions modification approval
Measure 4 - Increase the NFT Rewards Allocation
Topic - DeFi Rewards
Measure 5 - DeFi Rewards Q4 Allocation
Measure 6 - Consensus Rewards Pilot Program via Targeted DeFi rewards
Measure 7 - Allocation of DeFi rewards to Targeted DeFi Rewards specifically for the Consensus Rewards programs via DeFi protocols
We will consider your feedback and add the measures to the governance portal a few days before the voting session opens on 1 September. Looking forward to reading your posts!
Adri & Michele
Update 22 August
Two new measures were added to the DeFi Rewards topic about a DeFi consensus rewards pilot program via the Targeted DeFi rewards program.
Update 28 August
Thanks everyone for your comments on all topics. We are working to upload measures 1 to 4 to the governance portal. Your posts and comments highlighted the need for further discussion on the topic.
post by thezec on Aug 18, 2023
I always liked the governance program, but how many times more do we have to vote on the same exact topic? NFT and DeFi rewards are being voted on for the last what, 4 periods? Meanwhile, every time rewards from nodes are being asked and keep getting ignored.
I feel a little let down by the meaningfulness of the gov program.
post by jpig.algo on Aug 18, 2023
Agree with @thezec, it’s time for node running incentives if we want to distinguish ourselves as a Top10 blockchain. Even with small incentives, ~1-5M ALGO we can boost the validators to a number higher than 99% of other chains. Come on ppl
post by macnet on Aug 18, 2023
Node running incentives must be a priority.
post by Zilla on Aug 18, 2023
I agree. John Woods also mentioned it. I think we need rewards for node runners.
post by Trqv on Aug 18, 2023
Algorand has some of the finest minds in the industry. Let’s dedicate some resources into designing a fair and robust node incentive programme. My 2c
post by Rambutan on Aug 18, 2023
To make Algorand even more secure and decentralized than it currently is, we need more people to run nodes globally. And to speed up this process, having incentives would be a good idea in my opinion.
post by mochanerd on Aug 18, 2023
I truly think rewards for running a Node should be in the next Governance vote. Imo it’s just as important if not MORE important than the other proposals we’ve voted on so far. Network security must be a TOP priority!
post by mrprofit on Aug 18, 2023
The issue I have with Algorand as early adopter, it became too complicated!
The Key to adoption is Simplicity & Consistency
post by Rambutan on Aug 18, 2023
I was just thinking, say the Foundation incentivizes people to run nodes. What happens come 2030 when the foundation has no more Algos to distribute as incentives?
post by mrprofit on Aug 19, 2023
Probably Network fees from transactions and DeFi.
post by Fritos2 on Aug 19, 2023
I would also like to see some form of incentives for node runners.
post by jpig.algo on Aug 20, 2023
@Adri are we getting some Foundation feedback on this? Seems a bit pointless if it’s not a conversation
post by scholtz on Aug 20, 2023
What type of nodes would you like to incentivize? There are different options there:
- We incentivize only relay node runners.
- We incentivize relay nodes and participation nodes.
- We incentivize node runners and making the account online.
- We incentivize not only consensus nodes and accounts, but also the public indexers.
post by jpig.algo on Aug 20, 2023
I think the easier option should be the choice here, and rewarding online accounts proportional to their stake seems like the easier thing to do.
post by scholtz on Aug 20, 2023
I'm afraid that if we only incentivize online stake, there will be no incentive for participants who run nodes. We need to consider the infrastructure costs as well.
post by Trqv on Aug 20, 2023
Can we not just use the folks finance system and allocate 500k algo from governance rewards?
post by anon on Aug 21, 2023
Getting node incentives right is not straightforward. It requires robust monitoring of the right performance metrics.
post by fisherman.algo on Aug 22, 2023
Hi Adri, can we also not receive rewards through Xgov for US companies?
post by Adri on Aug 22, 2023
Yes, that is true for this round as per current ARC-34. However, we are looking for ways to solve this issue.
post by Algoblob on Aug 25, 2023
My thoughts are following, in order of importance:
- Algorand is a Proof Of Stake network, fundamentally staking, participation in consensus, should be incentivised.
- Most stakers would opt in running their own node anyway, to avoid sharing their part keys.
- Networks grow adoption by creating business models for its users.
post by Maial.algo on Aug 26, 2023
I actually like your idea. Algo lying in Governance is too many.
post by Jacopo on Aug 27, 2023
+1 on that proposal. There is a lot of Algos sitting in wallets that farm rewards from traditional governance without doing anything to contribute to the growth or security of the ecosystem.