Posts about Algorand
Yesterday Algorand processed 2.3 Million transactions causing a massive spike in TPS. With that said, Algorand still has the bandwidth to do 240x more(eventually 1800x).
Over the last 7 days, Algorand has added over 800k+ new addresses.
There are almost 100k Algorand addresses with 1k+ ALGO. Look at that nice linear growth line. This is great for decentralization and means Algorand is becoming more decentralized over time. Pure Proof of Stake is amazing because ANYONE can run a participation node and participate in consensus with only ONE ALGO.
Algorand AGAIN broke it's record for Total Value Locked, breaking $300 Million. This is almost 4.3x that of Cardano TVL and yet Algorand is sitting at #30 market cap while Cardano is sitting at #8. Algorand seems to be MASSIVELY undervalued(NFA).
We're seeing more and more real world use case and usage on the Algorand blockchain. FIFA just launched its marketplace on Algorand called FIFA Plus Collect and with the World Cup coming up in November, it could easily become the biggest NFT marketplace in the world. Time will tell.
You can only buy FIFA Collect packs with either USD(US Dollar) or USDC on Algorand. Interestingly both FTX and Binance both added support for USDCa in the last week, this comes right before the world cup.
Overall, Algorand metrics are looking phenomenal and 2022 has seen HUGE growth through out the ecosystem and protocol. In September, Algorand saw a 5x performance boost to 6,000 TPS and a ~10% decrease in round times to <4s. With the release of Algorand State Proofs that allow for a new interoperability standard that can securely connect all Proof of Stake chains, Algorand is proving to be a leader with their cutting-edge technology.
This time around there are 5 measures to vote on:
Measure 1 Allocating 90MM Algo to governance rewards for the next two Governance Periods
Measure 2: Approving of up to 2MM Algos for a Community Funding pilot program via the xGov process
Measure 3: Allocating up to 2MM Algos for a Community Funding pilot program via the xGov process
Measure 4: Approving of up to 600K Algos to seed a Community curated NFT Collection
Measure 5: Allocating up to 600K Algos to seed a Community curated NFT Collection
To our Algofam,
Like all of you, we have been watching the FTX catastrophe unfold over the past weeks.
First and foremost, we are saddened by the livelihoods damaged by FTX and its domino effects. We know some of you are among those affected, and our hearts go out to you. We wanted to reach out to you, the community, to share an update on our interactions with FTX. The Algorand Foundation has never established a dedicated trading or custodial relationship with FTX, Alameda Research, or any affiliated companies. We have never received investment from Sam Bankman-Fried, FTX or Alameda Research, we have never been investors in them, and we have never co-invested with them.
We further investigated our secondary exposure. Counterparties - where we are a Limited Partner or have an Algo investment - have now likewise reported to us that they have no FTX exposure. Secondary exposure relies on third-party attestations, of course, which we have no reason to doubt.
We have determined that our only exposure is $1M that we held in an account to provide an on/off ramp for listing Algorand USDC (USDCa) on FTX. As you might know, we successfully listed USDCa on FTX just last month. These funds were allocated in the pursuit of growing adoption of USDCa, and it is a very small fraction of our total funds.
The collapse of FTX does not have a significant impact on USDCa; it is supported on KuCoin, OKX, Huobi, and MEXC, and another important listing announcement is soon to come.
As for how the industry moves forward, we have always believed that it is about real-world adoption, based on proven use cases. Central to this movement is the tenet “not your keys, not your coins,” and we encourage all community members to consider options for self-custody of digital assets like ALGO and USDCa including Ledger, MyAlgoWallet, or the Pera mobile wallet, to name a few.
Our goal at the Foundation is to empower a dynamic, inclusive, and borderless global ecosystem - at scale - based on the Algorand blockchain technology, and we will continue to do so through good times and bad.
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Source: https://www.algorand.foundation/news/ftx
Also, no exposure to BlockFi, Gemini or Genesis Trading.
Source: https://twitter.com/StaciW_DC/status/1592912316923670528, https://twitter.com/StaciW_DC/status/1592929827023368194