Pillar Algorand Transparency Report Oct 2020

As part of an ongoing effort to bring transparency and clarity to the Algorand project, we are publishing the second of what will become regular transparency reports on our Algorand holdings and activities.

Entities and financial relationships:

Pillar’s investment in Algorand Inc. comes through two entities that invest in parallel. Our Agreements with the Algorand Foundation are also through these two entities.

Pillar has signed node agreements which we believe are identical to those of the other early backers. Our tokens will vest as described here — assuming our nodes are run in good standing. We run a total of 8 nodes.

Wallets

We have three wallets. Two receive our vested and participation tokens for each of the entities above. The third is for our participation in the staking program.

Transactions:

In late June, Pillar began an algorithmic selling plan where volume is adjusted based on the market price relative to the 14-day moving average. Pillar has sold 21M Algos to date. Our percent of trading volume (POV) across all selling days has averaged less than 0.2% and our max POV for any given day is 0.65%. We will continue this selling plan for the foreseeable future.

Other Agreements

Pillar is an equity owner of Algorand, Inc. Pillar has no financial or business relationship with any other Early Backer.