# Evolving Algorand Governance **URL:** \ **Category:** Governance Discussions\ **Tags:** defi\ **Created:** [May 3, 2022, 6:58pm UTC](https://forum.algorand.co/t/evolving-algorand-governance/6646 "2022-05-03T18:58:49Z")\ **Posts on this page:** 1\ **Showing post:** 89
**Author:** ![javier0rosas](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.algorand.co/javier0rosas/32/1578_2.png) [@javier0rosas](https://forum.algorand.co/u/javier0rosas)\ **Post date:** [May 4, 2022, 5:34pm UTC](https://forum.algorand.co/t/evolving-algorand-governance/6646/89 "2022-05-04T17:34:56Z")
@michel could not have said it any better. Deploying governance rewards through DeFi to reward developers and true believers who are willing to take smart contract risk for high APYs (also known as degens) is the right move. This will increase TVL and incentivize more developers to come into the ecosystem, creating a self-reinforcing network effect and hopefully causing more demand for $ALGO, which has been underperforming over the past 6 months relative to the Altcoin benchmark. For some context, here is a graph of ALGO-PERP vs ALTCOIN-PERP over the past 6 months. ![Screen Shot 2022-05-03 at 10.09.43 PM](https://us1.discourse-cdn.com/flex016/uploads/algorand/original/2X/2/285064df13cd21c0d2a9a38afef376da3132f34e.jpeg) Clearly, $ALGO has been underperforming the benchmark and this is unnacceptable given our superior-tech and novel consensus mechanism. Web3 developers should be flocking our ecosystem like crazy, but they are not (partly because Algorand is not EVM compatible), but partly due to the lack of governance & stablecoin incentives that other blockchains like Terra are hammering down on. --- _[View the full topic](https://forum.algorand.co/t/evolving-algorand-governance/6646)._