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r/algorand
76.9k members
The community controlled subreddit for the carbon-negative Algorand blockchain and cryptocurrency.
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r/AlgorandOfficial
71.3k members
Official community for Algorand - Worldโ€™s first open source, permissionless, pure proof-of-stake blockchain protocol designed for the future of finance. Founded by Turing Award-winning cryptographer Silvio Micali. Algorand runs on a highly energy-efficient network and is carbon neutral. Get started with AlgoKit today -> https://developer.algorand.org/algokit/
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r/algorandASA
27.3k members
Welcome to r/algorandASA (Algorand Standard Assets). This sub is for the discussion and announcements of new ASA's. Many of these asset are purchasable via https://app.tinyman.org/ 'Airdrop' & 'Announcement' posts must include a link to the asset on Algoexplorer.io in the post for transparency
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r/CryptoCurrency
6.8m members
The leading community for cryptocurrency news, discussion, and analysis.
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r/AlgoNFTMarketplace
13.4k members
This space is meant to discuss and learn about NFTs on Algorand! All deals are made at your own risk. No warranties or guarantees are made by Reddit or the moderators of this subreddit. Perform your own due diligence prior to making a trade. We recommend going through one of the marketplaces to help ensure a safe transaction. If you have a smooth transaction with someone PLEASE VOUCH FOR THEM in our Vouch Thread. Please have fun and be respectful!
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r/Algonauts
25.4k members
A hub for Algonauts to discuss, trade and collect NFTs and ASAs
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r/yieldly
12.2k members
Launched in June 2021, Yieldly is the first DeFi platform on the Algorand Blockchain. Website: https://yieldly.finance/ https://t.me/yieldly https://twitter.com/YieldlyFinance
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r/ExodusWallet
30.9k members
Welcome to r/ExodusWallet! This is the sub dedicated to the discussion of the Exodus cryptocurrency wallet. For official wallet support, please email support@exodus.com. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Remember: Exodus will NEVER ask you for your 12-word phrase, keys, or identifying information. Exodus will NEVER send you to another website to do any kind of updates except for our official website at www.exodus.com.
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r/AkitaInuASA
11.4k members
ALGO's best friend ๐Ÿ’Ž๐Ÿถ Akita Inu (AKTA) - The Ultimate Community Coin on Algorand ASA ID# 523683256 Akita Kennel Club (AKC) - A stunning collection of 1,000 unique NFTs
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r/NyanAlgorand
234 members
Welcome to r/NyanAlgorand
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r/GreeneryCommunity
662 members
Welcome to the Greenery. We are a community of researchers and investors on a mission to establish an innovative marketing brand and help promote the Algorand Ecosystem. We conduct AMA with project owners, as well as interactive education sessions (Greenery Hour) daily on Telegram group Voice Chat.
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r/Tinyman
6.3k members
Tinyman is a next-generation Decentralized AMM protocol on the Algorand blockchain. https://app.tinyman.org
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r/algorandcasino
2.1k members
Bringing classic casino gaming to the Algorand ecosystem! Stake your Chips to become the house or provide liquidity to our chip/algo pool on Tinyman and recieve an automatic faucet drop! Find out about our verified asset, Chips (asa id:388592191) Links to our website/socials in the sidebar and top menu!
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r/NFTsMarketplace
295k members
A place where you can buy, sell, promote, and learn more about NFTs! Share your work, tell your story, but most importantly, interact with others, it's the only way to find people that truly connect with your work.
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r/HEADLINECrypto
3.3k members
HEADLINE Crypto is a Texas-based blockchain project and token from the team behind Silo, HDX, XBallot, PIPELINE-UI, and Algo Astros.
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r/PeraWallet
2.0k members
Official community for Pera Wallet: The best wallet on Algorand.
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r/CoinBase
238k members
Welcome to r/Coinbase!
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r/AlgorandArgentina
29 members
Subreddit NO oficinal desde Argentina, del ecosistema global dinรกmico, inclusivo y sin fronteras, a escala, basado en la tecnologรญa blockchain de Algorand. โญโญโญ
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r/CryptoMarkets
1.5m members
A community for news and discussion about cryptocurrency finance.
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r/kittencoin_ASA
13.5k members
KittenCoin ($KTNC ASA: 361671874) https://www.kittencoin-asa.net/
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r/CryptoCurrencies
381k members
We're Crypto Reddit's Fiji water in a desert of censorship and agendas. Arguably Reddit's best source for uncensored cryptocurrency news, technicals, education, memes and so more!
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r/cosmicchamps
960 members
Cosmic Champs is building the first 3d P2E NFT mobile game on the Algorand blockchain
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r/Hedera
32.7k members
Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. It is governed by a diverse, decentralized council of leading enterprises, universities, and web3 projects from around the world.
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r/StonksALGORAND
121 members
Stonks is an algorand based project , for meme based NFTs.
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r/cardano
688k members
Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
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r/ledgerwallet
109k members
Discussions about Ledger's products. Visit us @ ledger.com
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r/AlgorandGovernors
77 members
A community for Algorand Governors to discuss Algorand. For wanna be governors also ;-)
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r/Algogems
1.9k members
Algogems is a Community-driven & next-gen NFT platform offering a seamless NFT experience and FREE NFT minting! Algogems offers public and encrypted NFT services, including minting, buying, selling, and auctioning. Very low fees & fast interactions, on the Algorand blockchain. GEMS is the native token of the platform, used to govern the platform and rewards its most active users and content creators!
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r/algodads
867 members
The AlgoDaddy Subreddit. Enjoy educational guides, news, and memes. Moreover, it's a place for algodads and algomoms to chill. Head over to AlgoDaddy.org for more Algorand News & Guides.
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r/ethtrader
2.3m members
Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.
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โ€ขPosted by2 years ago
Archived
Solving the Blockchain Trilemma

Algorand (ALGO) is a blockchain network (i.e. like ETH, ADA, SOL) that attempts to solve the "blockchain trilemma" - the ability of a network to be simultaneously scalable, secure and decentralised. ALGO's transactions per second (TPS) is 1k, with a 4s finality. Transactions cost 0.001 ALGO and the network already offers L1 smart contracts. However, the network will be upgraded in Q3-Q4 2021 to 45k/s TPS and 2.5s finality, ranking it toward the top for speed and scalability (Source). ALGO is currently experiencing ~1m transactions per day, placing it close to ETH in usage.

Main Conclusion: ALGO is, along with other projects, building and pioneering "Blockchain 3.0".

Academic Rigor

Algorand was founded by the Turing-award-winning, MIT professor Silvio Micali - and is backed by an excellent team with solid peer-reviewed academic prowess and publication record (Source 1) (Source 2). Silvio Micali conceived of and pioneered zero-knowledge proofs (among many other concepts) - a key and integral part of many cryptocurrencies. ALGO's respectable and trustworthy team boosts ALGO's chances of mass adoption, especially in the financial/institutional sectors - which appears to be ALGO's key target demographic.

Main Conclusion: ALGO's reliability, technology and ability to form partnerships is bolstered by the prestige and talent of its team.

Pure Proof-of-Stake

Algorand uses pure proof-of-stake (PPoS) as a consensus mechanism, which employs algorithmic randomness and an improved form of Byzantine agreement to achieve decentralisation + security. PPoS differs from regular, delegated PoS (dPoS) in a number of ways, including:

  • No pooled validators (i.e. holders do not pledge their coins to a minority of super-validators). Theoretically, this minimises the drive toward centralisation that dPoS suffers from.

  • ALGO node running is permissionless (i.e. anybody with >1 ALGO can run a node, be a validator and participate in consensus).

  • PPoS is extremely lightweight (an ALGO node can be run on a low energy, $50 Raspberry Pi 4 - no expensive hardware or upfront cost is required).

A key feature of PPoS is the use of a randomised, weighted lottery that selects validators - known as VRF. This prevents any malicious actor(s) from attacking the network since the identities of the currently selected validators (who must be corrupted in order to carry out an attack) are not known until the block is already finalised. At 1-4k validators, PPoS is paradoxically superior to dPoS in terms of decentralisation - even if the latter had 50,000+ nodes. This is because validators under the dPoS system are long-lived and known. By contrast, ALGO's random selections vary on both a round and subround basis - that is, block proposers, voters, vote certifiers all vary, across all steps of creating a block - making it incredibly secure and decentralised.

Main Conclusion: ALGO is fast, scalable, secure while remaining decentralised.

Staking Rewards & Governance

ALGO currently offers liquid and seamless staking with an APY of ~5.75% - you simply hold ALGO in a non-custodial wallet and there is no lock-up period. On Oct 1st 2021, governance is launching and this will gradually replace staking. In exchange for voting on proposals, you will be rewarded with 7.5-33% APY (depending on the number of participants). For the initial 3 months, this APY will be in addition to the passive 5.75%, meaning you could theoretically earn up to ~38.75% APY. Governance will not only allow ALGO holders to vote on changes to the network, consensus mechanism or tokenomics - but also select projects to receive developer grants (see below).

Main Conclusion: ALGO offers highly competitive staking APYs and will further decentralise by handing voting power to holders.

Carbon Negative

PPoS is extremely lightweight - consuming ~0.000008 kWh per transaction (Source). That's ~70,000x less energy than ADA, and 116250000x less energy than BTC.

The energy that is used by ALGO is 100%+ offset via carbon credits. An on-chain sustainability oracle analyses the energy utilised by each node and a partnership with ClimateTrade (and others) then channels this funding into reforestation, peat management and wind-energy projects (Source).

Main Conclusion: ALGO is eco-friendly, and the world's first carbon-negative blockchain network.

Developer Friendly & Ecosystem

Algorand is extremely accessible to developers (Source 1) (Source 2). Most importantly, it supports development in Python, C++, GO, Java, Javascript and RUST - removing the need for developers to retrain or learn new languages. ALGO's smart contract language, TEAL, is incredibly intuitive and can be accessed via Python (PyTEAL). As of TEAL 4.0, the language is now fully Turing-complete. In addition, Algorand offers comprehensive, detailed documentation and tutorials (for free) - see Source 1.

Moreover, ~$200-250m is available to support developers and 50+ grants have already been issued (Source). In total, ~600-650 companies are currently developing on ALGO and intend to deploy DApps/ALGO-based services (Source).

Yieldly, ALGO's first DeFi app launched, ~2-3 months ago and has enjoyed a high TVL since. A number of high profile projects, including ALGO's first DEX are launching shortly this year. Tokenized, real-estate projects (e.g. Lofty) are also currently operating successfully on ALGO.

Main Conclusion: ALGO has the ability to instantly attract developers, and is poised for an explosion in its ecosystem.

Real World Use

A key feature of Algorand is that it is forkless - it is mathematically impossible for ALGO to fork (Source). This is extremely important for real-world usage. Businesses accepting ALGO will not only experience rapid finality but can trust that the transaction is not on a forked branch of the blockchain that can be lost. This is even more important for NFTs. Thus far, ALGO has seen major adoption, recently including:

  • 70M South Americans (potentially 200M soon) using ALGO to issue + store COVID-19 passports (Source)

  • BNext adopting ALGO for its $100b/year Spain<->Latin American remittance service (Source)

  • MAPay adopting ALGO to power $800m/year in healthcare payments for Bermuda (Source)

  • SIAE, one of the largest and oldest digital rights management companies in the world, launched 4.5m NFTs onto ALGO - representing the work of 10,000 artists and which will involve $100m/year in royalties (Source).

  • ALGO was recently featured in a World Economic Forum (WEF) report on cryptocurrency - listed as a recommended "VIP" blockchain that solves issues with BTC/ETH and proof-of-stake (Source). This document will be seen by institutions, banks and economists worldwide.

The list goes on and on Here.

Main Conclusion: ALGO is already being deployed for large-scale and institutional solutions.

Tokenomics

ALGO has a maximum supply of 10,000,000,000 (10b) coins, and ~57% of the supply has been released so far. The schedule for coin release is detailed here: (Source). In addition to this, ALGO operates an 'accelerated vesting' algorithm: if the 30-day moving average (30MA) reaches a new ATH, the rate at which new ALGO is introduced into circulation is accelerated. The combined effect of this is a significant rate of annual inflation - and artifical suppression of price i.e. ALGO is not a short-term investment. Inflation will ease over time for 2 reasons:

  • Accelerated vesting is estimated to end in ~mid-2023

  • Coin release slows over time (see the above source), and we are already ~18-24mo ahead of schedule - so it's very unlikely that it will take until 2030 to finish the process.

Eventually, suppression of the price will cease. Until then, ALGO exploit this stability to build large-scale partnerships since less volatility is often viewed favourably.

Main Conclusion: ALGO's tokenomics are less than ideal, and the project is to be seen as a long-term investment only.

Relay Nodes & Initial Distribution

ALGO relies on a set of ~100-120 relay nodes to maintain high-speed transactions. Relay nodes are distinct from participation nodes (which participate + drive PPoS consensus) - they simply direct traffic (i.e. an ISP). In order to reward early backers (i.e. relay node runners), a large amount of ALGO was allocated to them. This raises concerns of centralisation. Algorand have acknowledged this, and are now opening up relay node running to the community (Source). This will, however, require more expensive hardware. The details are listed in the above source.

Moreover, the Algorand Foundation also own a significant portion of ALGO. However, the foundation is non-profit and this ALGO is used to fund R&D directly and issue developer grants. Because of this, the % the foundation own is diminishing over time.

Main Conclusion: ALGO appear to have favoured developing a stable blockchain and securing major partnerships first, before moving toward decentralisation second.

Final Conclusion: For a chain that launched only ~2y ago (June 2019), it has accomplished a great deal and its future, to me, seems extremely bright - however - only consider it if you're prepared to hold.

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โ€ขPosted by7 months ago
Archived

It's September 2021: the Algorand price just hit $2.38, Algonauts are everywhere, and the CryptoCurrency sub is best described as a living shill for the Algorand blockchain.

The Excitement is enticing and contagious as Algorand locks in one partnership after another, but behind the scenes... A Series of Unfortunate Events are Begining to Unwind, and what was once a promising blockchain to laugh and make jokes about - is quietly becoming a disaster for investors.

This post is not a technical breakdown of Algorand nor is this post meant to fud the future of Algorand. This post is about the absolute disaster that continues to unravel for investors of the Algorand Blockchain.

------------------------------

I. A Brief Introduction to Algorand:

If someone told you about Algorand they probably also told you it was founded by Silvio Micali "a cryptography pioneer, Turing award winner and MIT professor". Algorand launched in 2019 and hails itself as a Pure Proof of Stake (PPOS). The most notable difference from traditional Proof of Stake (POS), is that the creator of the next block is selected randomly irrespective of their total stake. As the name implies this approach is touted by Algorand supporters as a more fair and decentralized version of POS.

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II. The Beginning of an Inflationary Nightmare for Investors:

Like most crypto projects Algorand absolutely blew up in 2021, it started the year under $.40 and it ended the yearover 4x around ~$1.65. However unlike most crypto projects that peaked in early November Algorand peaked in September.

https://i.redd.it/0jgjkqekoloa1.png

What sounds like an interesting side note, holds a much darker truth for investors - Algorand inflated by 533% in 2021, as the circulating supply jumped from 1.19B to 6.37B - and 12% in 2022 from 6.37B to 7.14B. If you line up the graph for the increase in circulating supply to price, you can see the September 2021 peak lined up with a large surge in the circulating supply and a steady drop in price since.

https://i.redd.it/oqzgptvwemoa1.png

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III. A Controversial Change in Leadership

In January of 2022 the prior CEO of the Algorand Foundation was quietly ousted from the company, and replaced with the new CEO Staci Warden. The replacement has been incredibly controversial inside the Algorand Community as the new Foundation CEO thought one of the major priorities for the Algorand Foundation was to focus on PR.

https://twitter.com/StaciW_DC/status/1499202881647489025

Additionally she's been largely criticized for acting childish and immature in her public statements - with statements that are meant to create "baseless hype" which leads to Algorand believers holding even larger underwater bags. If you have ever heard of Staci before it's probably for her, "Nike" tweet.

https://i.redd.it/ds8gyyfxuqoa1.png

This one word tweet, lead people to believe big things were imminent for Algorand Investors with a potential Nike Partnership. Instead it was later revealed that Staci had hired a former Nike Executive as the Chief Marketing Officer for Algorand.

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IV. A Disaster in "Marketing" - Part 1: An Introduction

If you are familiar with Algorand Tokenomics you probably know, Algorand has a max supply of 10B and the beginning Centralization of Tokens with the Algorand team was one of the worst things about Algorand.

https://i.redd.it/1r9ia3fgipoa1.png

As you can see, Algorand itself was one of the initial largest holder of Algorand. When a Crypto organization needs to raise funds - they do that by selling their tokens, and that's exactly what the Algorand Foundation did. To the Foundations credit, they make bi-annual Transparency Reports that detail how much they sold and sometimes what those funds were used for. Below is a breakdown of the sales from October 2020 - September 2022 time period. Links to Transparency Reports information was gathered from: 1, 2, 3, 4 .

Numbers in Algo


In the Past two years the Algorand Foundation has sold 228M Algo and Paid their Board of Directors another 3.65M Algo. Important: these numbers do not include Algo given out for for ecosystem development - That includes another ~400M Algo over two years, some of which may have also been sold.

A Disaster in "Marketing" - Part 2: Partnerships

The past few years have been huge for Partnerships with Algorand, it seemed like every week the Algorand Foundation was announcing a new partnership. But most of these were just glorified real-world Sponsorships that Algorand paid for, that came with an Agreement to do do something on the Algorand blockchain, like FIFAs NFT flop.

https://i.redd.it/df9n4vqiypoa1.png

Announced in May 2022, Algorand became the official blockchain partner of FIFA. Immediately after the announcement the price of Algorand spiked 20%, but what investors had hoped would be game changing for the Algorand network - ended up as just another disappointment. In September 2022, FIFA launched an NFT project on the Algorand Blockchain - with over 205,000 mints, at a cost of $5 each and low resale interest: the project just ended up being a further $1M cash grab for FIFA.

The Algorand Logo was not on display as a partner during the Fifa world cup. Additionally there was not an ad or Algorand TV Spot during the world cup, something Algorand supporters had hoped to see.

A Disaster in "Marketing" - Part 3: Advertisements

Under the guidance of the new Foundation CEO Staci and a pivot to focus on PR - Algorand the "Greenest Blockchain", planned a huge marketing stunt for Earth Day 2022. They rented the time square billboards for one hour to black them out. Then they intermittently flashed them Green with the Algorand logo and text about how Algo energy consumption compares to BTC.

Source: https://shortyawards.com/7th-impact/algorand-earth-day?trk=public_post_feed-article-content

Of course the money for this publicity stunt, had to come from somewhere, and that money came from dumping Algo on Investors. From April - September 2022. The Algorand Foundation spent $22.2M on "Marketing and other forms of ecosystem promotion" which was raised by selling Algorand. In the prior six months, they only spent 9M in the same category.

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V. MyAlgo Hack and TinyMan Hack

In late February MyAlgo was hacked and some of the largest holders on Algorand saw over $9M in Crypto drained. A week later smaller holders on MyAlgo also started to see their crypto drained in what at the time seemed like Bots draining wallets.

Image taken from a /u/Odlavso post

MyAlgo will be releasing the Preliminary Findings on the Hack tomorrow, Mar. 20th 2023.

In January 2022 TinyMan was hacked and $3M was drained from Algorand ASAs (tokens). Source

------------------------------

With all of these problems and the continuous sell pressure from the Algorand Foundation - Algo's price has continued to drop over the bear market. One Algorand was selling for nearly ~$2.40 in Sep. 2021, and is now selling for $.22. If Algorand tech can turn around the nightmare that is occurring for Algorand investors is another question.... but one thing is certain - A series of Unfortunate Events has made Investing in Algorand an absolute nightmare.

TLDR: What was once a loved project shilled endlessly by this sub has quickly and quietly turned into a nightmare for anyone still left in the project.

Edit: Since some people think analyzing the failures of Algorand over the past 18 month is "hating Algo and Fud", please read the post again. The inevitable comments about "This sub hates Algo now, I Guess that Means It's Time to Buy" misses the entire point of this post.

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โ€ขPosted by2 years ago
Archived

The latest upgrades:

Developers are now able to build complex dapps for the Algorand ecosystem with smart contract-to-contract calling and network participants can take their first step towards trustless cross-chain interoperability with quantum-secure keys for the upcoming State Proof technology. These network upgrades come on the heels of a $20 million incentive program from the Algorand Foundation focused on developer tooling and EVM compatibility, putting Algorand at the forefront of blockchain interoperability and post-quantum security while providing features for even more advanced decentralized applications.ย?

These features add to Algorandโ€™s already advanced tech, high performance and robust developer resources. Smart contracts on Algorand can be written in Python or Reach, making it accessible for developers of all skillsets.ย?

Algorand has experienced zero downtime since launch, helping it become the blockchain of choice for hundreds of organizations launching DeFi protocols, NFTs, payment solutions, regulated digital assets, and more. The network supports applications that can scale to billions of participants, all on a high-speed, carbon-negative, secure and stable blockchain.ย?

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โ€ขPosted by3 months ago

A lot of us invested in Algorand. I also bought some a few years ago. Back in those days, all of us were very bullish and positive. Algorand was all over Reddit and other social media websites and news websites. Algorand got some strong partners over the years.

https://i.redd.it/2j2wixee8jbb1.png

Fast forward to 2023, and Algorand is a little under $0.11. Yet it used to trade at $3.15 in 2019 and $2.30 in 2021. Relative to Bitcoin, Algorand is even down 99% since 2019.


Actually, from the start of 2023:

CryptocurrencyPrice 1 January 2023Price 12 July 2023% difference
Bitcoin$16625$30742+85%
Ethereum$1201$1886+57%
Algorand$0,1775$0.1062-40%

So while Bitcoin is up 85% and Ethereum up 57%, Algorand is down 40%. This means that $1000 invested in these three cryptocurrencies would give you $1850 (Bitcoin), $1570 (Ethereum), or $600 (Algorand). That is an INSANE difference.

For perspective, XRP is 40% up, Litecoin 36% up, Polkadot 18% up, ADA 16% up, and Solana 120% up. Almost every other alt is outperforming Algorand since the start of the year.

What happened? Where did this go wrong? Cant believe how bad Algorand is performing.

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โ€ขPosted by2 years ago

This airdrop will be for 5,000. There will be several more airdrop rounds coming as we expand the project.

Only the first 1,000 comments that follow the rules will receive the airdrop.

Rule #1: Your Algorand Wallet needs to be posted BEFORE any other comments. You're welcome to say whatever you want after pasting your wallet address.

Rule #2: Make sure you have opted into the ASA, which is ID 401901597. If you didn't opt in before posting you will not qualify for the airdrop.

If you are wanting to help provide liquidity on Tinyman, please let me know and we can work something out.

Our team is hoping this ASA can rival Akita Inu and help raise awareness of the ease and value of ASAs.

EDIT: Spammers are slowing this down. Will start blocking them and you won't be able to participate in future airdrops.

This is our second of 10 rounds. The first round was 1,000 tokens yesterday that started with a secret Twitter campaign that showed me how powerful reddit is. So still learning how to use this platform.

Future airdrop rounds will continue to increase the drop amount.

EDIT 2: We're experiencing some technical difficulties sending the airdrop out. Rest assured if you followed the rules and are in the first 1,000 your airdrop will land when we can get to you. Thank you for your patience!

EDIT 3: Taking the airdrip bot offline for a bit. It keeps getting stuck from the wallet freezing and not allowing transactions to go through. Need to figure out why for future drops.

Also, we've blocked 23 accounts so far who posted their wallet more than once. Don't be greedy!

We will be working on the project a lot this week. Early adopters with big bags will be happy by end of the year!

We hope to be able to deliver the rest the air drop tonight. This post will be edited one last time when drop #2 is complete.

FINAL EDIT: Airdrop Round 2 is now complete. Be on the lookout for Round 3 later this week! In the meantime I'm looking for liquidity providers so hit me up if you're interested.

In the meantime, we're on Tinyman if you missed out. Akita Inu, watch out! We're coming after you!

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