Humble DeFi & Algorand Governance
Hello (soon to be) Guv’na!
Algorand Foundation has released their guidelines on allowing DeFi participants to join in the governance and earn additional yield with their LP tokens on Humble from the allotted 7M algo DeFi incentives.
UPDATE: We spoke with foundation and they are now ALLOWING users to both commit their LP to governance AND stake in our Farms!
What is Algorand Governance?
Algorand Governance is held by the Algorand Foundation on a quarterly basis. Each periods proposals drafted by the foundation are voted upon by wallets that commit algo (and now approved LP tokens) to that specific governance period. To be eligible, you must hold your committed algo balance and not let it drop below during the entire period. You also are required to vote on the measures to stay in compliance. At the end of the period, the foundation then distributes its rewards (63.5M + 7M algo to governors & defi participants). This period opens for commitments from Oct 1st — Oct 21st and the period will conclude Dec 31st 2022.
How do I sign up for governance?
To sign up you can visit Algorand Foundation website here.
Further more, a step by step guide through the governance portal can be found on the Algorand Foundation website here.
What LP tokens are eligible?
The LP tokens currently eligible for this period are:
Can I both participate in governance AND yield farms?
Yes you can! If your favorite pool has a farm live on Humble it will be easy to participate in both. First, you will need to commit your LP tokens into governance so if they are already in our farm go ahead and withdrawl and go to the above governance portal to commit as you normally would. Once these funds are committed head back over to our farms and stake there. Just like that, you are now a governor and earning yield that additional reward on top of our swap APR & Farm APR.
The farms only last for a part of the period, will there be more?
We do plan on having another round of Aeneas funds however those LPs arent all public yet. Once those farms end and if a new one begins for your pool — you should be able to restake into this new farm and still be in commitment as a governor. (confirming system is in place).
We did want to let our users know some of the farms that will be coming back, these are not the only farms — just the ones that will have verified they will be back. This period we hope will extend farms throughout the remainder of the gov. period.
ALGO/USDC, ALGO/DEFLY, ALGO/COSG, ALGO/goMINT, ALGO/goUSD, ALGO/xSOL, ALGO/VEST.
More to be announced closer to the start of our new farms!
Best wishes to everyone this period. GO ALGO!
Want to join our community and have a chance to win our next contest or get the Alpha before it drops? Check us out:
Website: https://humble.sh
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