April Targeted DeFi Rewards Distribution Update - Algofi

At the start of April, AF sent out the contracts for all the projects who applied for Round 1 of the Targeted DeFi Rewards program. This is a program that disperses rewards in ALGO only and we soon found that Algofi wasn’t able to claim these rewards in Algo.

At the start of May, we reserved the allocated rewards for Algofi and asked them to come back to us with a solution for distribution. Ultimately, Algofi decided not to take part in the program.

Following the terms of the Targeted DeFi Rewards program, the reserved 1.25M ALGO will be added to the DeFi Rewards pool, increasing it from 15M ALGO to 16.25M ALGO.


To confirm, is this increasing the DeFi Rewards pool for the past governance period (as opposed to the current governance period)?

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Yes, that’s correct.

another project dies because of algorand poor tokenomics and defi rewards