Before you read it all, I truly believe Algorand is the best blockchain today. Please read all the way to end.
I do not fully agree with Michel from C3, If we look at Avalanche TVL (11.41B at the time of writing this), they currently offer between 9-11% for staking to nodes in a quite low risk setting and the majority of defi, if not all, does not offer the same rates. Currently Algorand Defi protocols as it is seem to offer better rates from what I’ve seen.
I am all for helping the Algorand Ecosystem grow, and I think it will grow with time as people start to realize how great this blockchain truly is.
I do think keep rewards at a good level for governance will help promote Algorand Goverance.
Potentially rewarding people extra who participate in the ecosystem is a nice idea, but how is the question being asked. I cannot see a really viable way that doesn’t play favorites over projects.
I think a good solution would be remove a small portion of the current rewards (0.5-2%), and place that towards more funding for projects that wish to start up. I know the Algorand foundation does give out grants currently, but this couldbe the community that choose which projects to fund additionally. You could remove even more and reward people for participating in this too.
I think an idea like Cardano’s catalyst would be absolutely AWESOME for Algorand.
In short how it works, is a snap shot is taken of your current balance in your wallet, and that is voting power to vote(maybe we can cap the voting power to lets say, 10,000 so whales would have a far harder time to manipulate votes, or keep halving power of each algo held so whales would really have to create a LOAD of wallets to manipulate it.). on community projects all sorts of sections whether its defi, education, infrasture etc.
I think real world adoption will come for algorand because we are having projects that are working on tokenizing what the world currently has and making it better and fixing friction points that current system cannot. I do not think focusing on just NFT projects of art and Defi because that isn’t going to inspire real world adoption compared to, digital Identity, providing voting systems for the world, infrastructure, education etc.
We have the best tech and great dev Docs to building on Algo, We will have more people building on Algo, they just got to discover it. Currently its all about EVM, once the benefits of Algorand’s like atomic swaps, fee’s being constant, nodes being cheap etc, I think people will start making the switch Algorand.
I apologize for spelling errors and grammatically errors, I rewrote this a lot of times.