Evolving Algorand Governance

Governance Discussions
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  1. Fix issues with hardware wallets so DeFi can be safer, no Algonaut that treasures ALGO will use ALGO DeFi without better risk management.

  2. Foundation needs to actively promote to crypto community and not to the general public that knows nothing about crypto. Marketing needs to be targeted, with finite resources adoption needs to be now not 10 years down the line. It’s a noble act to educate the general public and university but remember this is a dog fight. There are L1s popping up every day which claims to be better and adoption NOW is key.

  3. Work with whales (early investors) not to dump tokens - yes, believe or not price action is important. No investor wishes to hold an asset that is risky and has negative absolute returns. Any savvy investors looking at the ALGO chart knows to stay away. If the Foundation are the ones behind selling large amounts of ALGO, they need to think about cutting costs because literally no APY is going to compensate for 90+% drawdown against ETH.

Until those issues are solved changing the current structure is kicking the ball down the line and should be rejected. The Foundation is deflecting the lack of adoption and basically saying its because the APY is too high without comparing to other APY in the crypto market. Yes, 7% is high for traditional investments but believe it or not, crypto is still a risky asset with 50% drawdown (especially for ALGO) time and time again. The Foundation should really do its job and grow demand not by changing the current incentive structure and benefits of token holders but by managing the Foundation and Inc better.

The brutal truth is that Silvio and the tech team has laid the foundation for the team to build on, if there is a lack of adoption it is because current management - don’t try to blame it on anything else.

Hire better economic advisors, change the marketing team from old dinosaurs to ones with crypto experience. Anyone in the Foundation who hasn’t figured the above themselves should also think about going back to traditional brick and mortar business because this is a high growth industry. Other L1 understand it is cut throat competition and has already rolled out killer apps with high APY to attract users. ALGO now voting this ridiculous change taking 6 months to implement and another 6 months for adoption will spell the death of the chain.