With the major upgrade of the Algorand protocol to Algorand 2.0 in November 2019 significant improvements at the protocol level are creating new opportunities for blockchain adoption. Tokenization capabilities through the Algorand Standard Assets (ASA), multi-party transfer via Atomic Swaps and Smart Contracts at layer 1 using TEAL (Transaction Execution Approval Language) are all new features (more about them here from the Algorand Foundation’s recent announcement). Now, entrepreneurs, startups and developers can start building their applications and products on Algorand 2.0 and take advantage of the same infrastructure (including exchanges, wallets and tools) that is already available for Algo, the native digital currency of Algorand.
In light of these innovations, we’ve encountered several new projects planning to issue assets on top of the Algorand network, launching new distributed financial applications (DeFi), building payments system and creating innovative network-driven businesses.
Algorand’s borderless economy is growing at a steady pace, and now the ecosystem will include more than just the Algo. Given all these exciting developments, we think the time is right to transform our brand in a way that better represents our support for the entire Algorand ecosystem, including non-Algo assets (Algorand Standard Assets) built on Algorand platform.
After much discussion, we’ve arrived at a brand that we feel proudly reflects our values and our mission. From now on, Algo Capital will be Borderless Capital.
What does this mean in terms of our long-term commitment to Algorand and the Algo?
Our core mission, vision and investment strategy remains the same. We will continue backing category-leading projects in equity and/or tokens (issued as Algorand Standard Assets), that are furthering the Algorand borderless economy.
As per our original strategy, the Algo will remain a unique asset for Borderless Capital. We will continue to hodl and stake 100 million Algos over the long term. You can learn more about our Algo hodling strategy in our recent blog post.
We believe that our new brand reflects a more inclusive approach and aligns better with the natural evolution already occurring within this thriving ecosystem.
The team here at Borderless Capital always viewed Algorand as a complete economic system without borders, not just a blockchain protocol. So we remain committed to investing capital and developing financial products that accelerate access, bootstrap adoption and create value globally. We are encouraged by the progress we’ve already seen, and we’re proud to play our part in creating opportunities within the borderless economy.