Algorand Governance Targeted DeFi Rewards (Gov Period 9 — Q4 2023)
During Algorand Governance Period 7, Algorand governors voted to “Boost” DeFi with Targeted DeFi Rewards, so AlgoRai Finance has been allocated 556,790 ALGO to distribute to AlgoRai users during gov period 9!
These rewards will be distributed to the following vaults in the percentage stated, counting from the round starting 6 October 2023 and ending on 29 December 2023 (12 rounds total):
- ALGO Bear Vault (5.56%)
- mALGO Bear Vault (16.67%)
- ALGO Bull Vault (11.11%)
- mALGO Bear Spread Vault (11.11%)
- goBTC Bear Vault (12.50%)
- goBTC Bull Vault (12.50%)
- goETH Bear Vault (12.50%)
- goETH Bull Vault (12.50%)
- GOLD$ Call Vault (5.56%)
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.
- This articles was edited on 11 October 2023 to add the GOLD$ Call Vault and reflect the distribution percentage to the respective vaults.
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!
