- This topic has 4 replies, 2 voices, and was last updated 8 months ago by Harold838383.
- Friday, April 1st, 2022 at 03:31 #206317shwahdupParticipant
Over the past two quarters, Governance has held the greatest amount of TVL (total value locked) in the Algorand ecosystem. Over 2.8 billion ALGO was committed to governance for the last voting period, representing more than a third of all the available ALGO. The governor’s earned 10% APR on those holdings, but we’re forced to keep them locked up for three months, without having any opportunities to make use of those funds. Up until now, those $2.5B+ worth of ALGO have essentially been locked away from the rest of the ecosystem.
AlgoFi has changed that today by launching their governance vault on the Algorand Mainnet. Users can deposit their ALGO into the vault, earn governance rewards, and then use those assets as collateral to borrow other assets. This unlocks a huge amount of liquidity previously unavailable to the ecosystem. Governor’s no longer have to miss out on other opportunities on the Algorand blockchain due to participating in governance.
You can learn more about the AlgoFi governance vault here: https://docs.algofi.org/vault/algorand-governanceFriday, April 1st, 2022 at 03:31 #206318BigLongFootDoctor
Let’s go Algo /military chant while runningFriday, April 1st, 2022 at 03:31 #206319RunCookRead
I love Algo. Always moving forward.Friday, April 1st, 2022 at 03:31 #206320Wonzky
You had me at ALGOFriday, April 1st, 2022 at 03:31 #206322Harold838383
Call me old fashioned but I will never borrow against my crypto. Seems dangerous
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