Clarification on Governance FAQ62

FAQ62 states:
“No. Even though the commitment may be made between the 1st and 15th October for only this first period, all commitments will be assumed to have started on 1st October.”

I had originally dismissed this as the question was around rewards calculation: “are rewards only calculated from the 15th of October to the 31st of December”.

However, upon reading again, this says “ALL commitments will be assumed to have started on October 1st”.

So, my question is… does that include not going below committed amount? So if one signs up on the 10th and commits an amount, but a few days earlier his/her balance was slightly lower, would that void all rewards for the 3 months period?

Also, if it is from the first? What timezeone, what time? Start of day somewhere or end of day somewhere?

I think more clarification is needed (or maybe I simply need to be pointed to where this is).

I hope (and believe) this simply means you are committing from the 15th (what time exactly?) but it terms of rewards it’s as if you had committed from the 1st. This is how I read it first time, but now that I was signing up for governance (6 AM UTC October 1st) I don’t want to be committing the wrong amount (I have just moved more funds). So I need double checking.

Thanks in advance.

About the exact timing, the signup window for the 1st governance period is from 00:00:01 October 1st to 00:00:00 October 15, SGT (UTC+8). A countdown will be added to the dashboard in the coming days.

Regarding the rewards rules, the start of the commitment is October 15, not October 1st. This is mistake in the FAQ that will be corrected. The explicit rules are as follows

  1. The commitment amount from a given governing address is determined by the signup transaction that was sent from that address during the signup window. (If there are multiple such transactions with valid notes field, only the last one counts.)

  2. A governing address is compliant if the balance in that address is maintained at or above the commitment level during the entire period from 00:00:00 SGT October 15 to 00:00:00 SGT January 1 2022. In addition that governing address must participate in all the voting sessions during that period (of which we will only have one).

  3. At the end of the period (00:00:00 January 1, 2022) we will sum up the commitments amounts of all the compliant governors. Each compliant governing address will receive its relative portion from the governance rewards pool of the 1st period (which is 60M ALGOs).

    Specifically if the total ALGOs committed by compliant addresses is x, then a compliant address that committed y ALGOs will receive rewards in the amount of y/x times 60M ALGOs. As an example, if the total commitment was 1 Billion ALGOs, then a compliant address that committed 100 ALGOs will get

    (100 / 1000000000) x 60000000 = 6 ALGOs


One more minor detail: this rewards amount will be reduced by 0.002 Algo to pay for transaction fees


This is a very clear and unambiguous response. It has clarified all my doubts. Many thanks, really appreciated!