Messina TDR Distribution Plan Suggestion For GP11

We have removed BigBoi from the list as per community feedback. Their website is www.bigboi.club, we will leave it to them to disclose further info about themselves. Unfortunately RollBit has not had great adoption in our Algorand ecosystem so it is not on the list to incentivise.

Incentivising pools that have low liquidity is a good suggestion and something we are exploring. One challenge to this is the DEXes are not keen to participate in this as like you say the TVL is too low. Also which pairs should we choose to incentivise as we don’t want to be seen to be choosing favorites.

This is an interesting point to consider. While you are right that some assets like goBTC and goETH are not minted by us, the basis of Messina Bridge is that it bridges native tokens unlike wormhole and other bridges that mint a wrapped token. So because native tokens are required on all sides of the bridge, it complicates things.

AlgoRai’s mALGO Bear is based on the price movement of ALGO so a bear vault is basically selling a Call Option, as when it is in the money the buyer of the option has the right to buy the underlying asset (in this case ALGO) for the strike price. This is also why there are no direct bull vaults as we need to maintain balance across the vaults.

Thank you all for your feedback. We agree that this level of detail is insufficient and too broad, and we will share in detail the exact protocols and pools that will receive our TDR allocation in ALGOs (like we have in previous quarters) before the deadline for submission to the governance committee.

Updates on Distribution Plans

• AlgoRai has been awarded 312,745 ALGO to distribute from the latest TDR allocation draft calculation by the Foundation. They will be distributed according to the percentages detailed in discussions.
• Messina has been awarded 447,718 ALGO to distribute. We have been in discussions with partner protocols and our proposed distribution is as follows:
  • Tinyman: mALGO / ALGO pool: 120,000
  • wBNB / ALGO pool: 13,500
  • PEPE / ALGO pool: 13,500

Oh yes, sorry, forgot to add an explanation for that. We are currently developing a mALGO bull spread vault; if it is ready in time then our intention is for the mALGO Bear Vault allocation to be split so both vaults are incentivised. If it's not ready in time then it could remain with the mALGO Bear Vault.

Feedback and Community Engagement

Targeted DeFi Rewards (TDR) are undergoing a significant change for GP11 and the governance team have asked us to seek feedback from the community about our distribution plans before putting them into the governance voting in March 2024 for governor’s approval. In GP11, AlgoRai proposes to distribute rewards with a focus on community feedback and adaptive strategies.

The spread vaults are still in development due to delays, so the rewards allocated to that for rounds that have completed are redistributed to the other vaults in the respective proportion.

Thank you all for your thoughts and insightful comments. mALGO is rather new to the ecosystem and because of the long governance periods perhaps a little slower to develop since it is linked to these quarterly periods.

Please see our TDR distribution report for GP9 here: Algorand Targeted DeFi Rewards Post-Distribution Plan GP9.

Hi all, please see here the distribution plan for AlgoRai’s TDR in GP10: Algorand Governance Targeted DeFi Rewards (Gov Period 10 — Q1 2024).

Hi Algorand, please see Messina.one’s TDR distribution plan for GP10: Liquid Staking Will Receive DeFi Rewards Boost From Algorand Governance P9.