We’ll offer governance rewards in the ALGO staking program
We’re excited to announce our participation in the Algorand Community Governance program. Users participating in ALGO staking program at Bitstamp will receive Algorand Governance rewards for the governance period starting in Q1 2022. A small note, Algorand staking program is available globally, with exception of the U.S.
What is Algorand Community Governance program?
Community Governance enables all ALGO holders to participate in the decision-making process on the growth and development of the Algorand ecosystem. You can get more details on the program here.
How does the Community Governance program influence ALGO staking at Bitstamp?
The current ALGO staking rewards at Bitstamp are sourced from the Algorand participation rewards program, which will finish approximately on February 27, 2022. The participation rewards will be completely replaced by the governance rewards coming from the Community Governance program.
Bitstamp ALGO staking rewards in the future will be completely sourced from the Governance rewards and distributed quarterly.
Will I be able to participate in governance voting?
No, for the time being, we won't be offering our users the ability to vote due to Algorand operational constraints. We will layout our voting principles in a future announcement.
When will I get the Algorand Governance rewards for Q1 2022?
We’ll distribute the rewards to eligible users early in Q2 of 2022.
What is the expected APY for ALGO staking on Bitstamp in Q1 2022?
The final APY will depend on a few factors that are outside of our control, including:
- overall amount committed to Q1 governance program,
- governor's eligibility for Q1 2022 rewards,
- user's ALGO balance during Q1 2022 at Bitstamp.
In the Q1 2022 governance period, Algorand will distribute 70.5 million ALGO as rewards to eligible governors. These will be proportional to governors’ stakes and inversely proportional to total committed ALGO.
Disclaimer: Your staked ALGO principal is ensured under the same terms and conditions that apply to other assets that you hold on Bitstamp. However, we do not guarantee any ALGO staking returns. Bitstamp ALGO staking program is not available to U.S. customers.