AlgoFi's AlgoVault Governance Period 3
Algofai and Algrand's collaboration in Committed to Algorand Governance
How does AlgoVault work?
Users can participate in the Algorand Foundation Governance Rewards process by depositing their Algos.At the same time, these users can benefit from the Algofai platform lending process.Algoes deposited in the AlgoVault Protocol are called Valgo and are used as receipts for users.Users can participate in the Algofi protocol lending system using the vAlgoes
decentralized Governance model
On October 1, 2021, the ALGO ecosystem became decentralized Governance model. In this model, the management of the ecosystem is in the hands of the members of the Algorand community, and all members contribute to the growth and development of this ecosystem through participation and voting.
Participate in Governance
User participation is committed to the algorands that have been deposited in the Algofivault protocol, and during a two-week registration period, governors can "commit" their ALGOs to governance.After the end of the registration period, the voting period and Governance Rewards Payout will take place
The table below shows the number of wallets of algofi vault and the amount of algos in them
Now we want to see what percentage of these wallets have participated in the Algorand Governance commitment. The table below shows this information.
As can be seen, 20.5% of these wallets are part of the Algward Governance commitment, which is 4,163 unique wallets.
Now let's see what percentage of the algos in Algofai wallets are part of Algorand Governance's commitment, and this amount has belonged to a few wallets. The table below shows this information.
As we can see, about 99% of the total algos in the Algofai Vault protocol are part of the Algorand Government commitment, which amounts to 4,163 wallets.
Finally, let's take a look at the top 20 wallets in Algofai vault, which have the most algos in the protocol and are committed to Algorand Governance. The chart below shows these top 20 wallets.
We see that the top wallet has 9.5M Algo.
conclusion
It seems that users who have deposited in the Algofi vault protocol are both willing to participate in the Algorand government commitment, and in this way can participate in the Algofai protocol lending process, thereby benefiting from both the Algorand government's rewards and Participate in the lending process and thus benefit from their assets. As we have seen, the amount of the committed algo has been significant and users have shown their willingness to participate in this process.