Algorand's second governance period runs through March 31 — here's a breakdown of eligible governors, committed Algos, and period rewards as of Feb. 16.
Changes since last week
Period 2's committed Algo count dropped below three billion sometime between Feb. 9 and Feb. 16. The period reward rate increased slightly and now stands at 2.35 percent instead of last week's 2.34 percent. The number of eligible governors also dropped, but by a relatively small 819.
Last week's governance eligibility update is available
Period-2 vs Period-1
There are currently 62,493 eligible governors who may cast votes on Period 2's xGov proposal, with a total commitment of just under 3 billion Algos.
Period 2's eligible committed Algos at this time remain far larger than Period 1's eligible Algos at the period's close — 76 percent larger, to be exact. The number of eligible governors is similarly skewed to Period 2, which currently has 25 percent more than Period 1 finished with.
Period 2's current eligible committed Algos provide a 2.35 percent reward rate. The 2.35 percent reward rate will almost certainly grow, since there is still plenty of time for governors to move their committed Algos and become ineligible.
Period-2's whales
Period 2's largest current eligible whale controls 4.6 percent of the total committed Algo. Near 50 percent of Period-2's total committed Algo is currently controlled by the 25 largest governor accounts. And the top 100 governor accounts still eligible control 80 percent of the committed Algos.
Interestingly enough, Period 2's top 100 whales are slightly more decentralized than Period 1's.
Final thoughts
I'm happy to see the committed Algo drop below three billion. With over a month left until Period 2 ends March 31, I'm hopeful the period reward rate continues its slow climb.
Previous weekly updates:
- Algorand governance period 2 eligibility update — Feb. 9
- Algorand governance period 2 eligibility update — Feb. 2
Thanks for reading!
Thumbnail photo by Marco OriolesiUnsplash
