Algorand Governance Targeted DeFi Rewards (Gov Period 10 — Q1 2024)
During Algorand Governance Period 7, Algorand governors voted to “Boost” DeFi with Targeted DeFi Rewards, so AlgoRai Finance has been allocated 442,807 ALGO to distribute to AlgoRai users during gov period 10!
These rewards will be distributed to the following vaults in the percentage stated, counting from the round starting 5 January 2024 and ending on 29 March 2024 (12 rounds total):
- ALGO Bear Vault (5.26%)
- mALGO Bear Vault (15.79%)
- mALGO Bear Spread Vault (10.53%)
- ALGO Bull Vault (10.53%)
- mALGO Bull Spread Vault (10.53%)
- goBTC Bear Vault (10.53%)
- goBTC Bull Vault (10.53%)
- goETH Bear Vault (10.53%)
- goETH Bull Vault (10.53%)
- GOLD$ Call Vault (5.26%)
Several partners, including AlgoMint, Meld and Messina.one may incentivize vaults from their own TDR allocations from Algorand Foundation. These extra incentives are not included in the above percentages and are subject to change as per the partners instructions.
Depositors will earn a pro-rata share equivalent to their deposit percentage of the total vault for that round. Targeted DeFi Rewards will be made available within 1 working day from the end of the round. FYI we recommend all Targeted DeFi Rewards to be claimed within 7 days from being awarded and available for claim as they are not auto-compounding, so you need to claim them and deposit them to a vault.
Our rewards page is available here, users are able to view the amount of Targeted DeFi Reward ALGOs they have been awarded and claim them!
Thank you to the Algorand Foundation and all governors for this initiative to incentivise our DeFi ecosystem!
- N.B. AlgoRai Finance reserves the right to alter the Targeted DeFi Rewards distribution structure over the program period, as per the discretionary mandate given to it from the Algorand Foundation, if some APR is not being appropriately allocated and/or utilized effectively. As per the guidelines, 100% of the ALGO will be distributed, with no additional leftover funds held by AlgoRai Finance.
About AlgoRai Finance
We believe DeFi is not just decentralised finance but also democratisation of finance, harnessing blockchain technology to bring financial products to everyone that are now only available to a few. In partnership with global institutions, AlgoRai offers robust and transparent DeFi structured products that protect and grow digital assets over time, all at the touch of your fingertips. Follow us on our socials to stay updated!
