The Algorand foundation still holds 1,866,751,736 Algo, which is a large and substantial amount. For the sake of increasing the credibility of Algorand network and respecting all participants in the Algorand ecosystem in particular Algo holders, it is time to move from an Algo releasing process that is 100% based on (a few) humans decision, which is arbitrary in its amount and timing, to a more (or ideally fully) pre-programmed process.
Here I suggest a few maturity levels for achieving this goal:
- L0: The maximum Algo released for the next month/quarter/year is announced ahead of time (for example in the transparency report). This is already partially done by Algorand Governance 2024 Timeline and a similar information should be provided for any Algo that is sold in the market or is released to the AF board/employees or various projects/teams in the ecosystem.
- L1: Covers L0. Moreover, the total remaining Algo is split into two (or three) buckets in smart contracts and only the maximum preset amount is released monthly to the secondary accounts managed by the foundation. Again. this is partially achieved with the node incentivisation for the subset Algo that is dedicated to that program, however it needs to be expanded to cover all released Aglo.
- L2: Covers L1. Moreover, the release of Algo to the foundation addresses is subject to the community/gov/xgov approval vote.
Update: Less than one hour after this post was submitted, ~76M Algo was released and the new number is 1,790,752,259. This is something that the community wouldn’t know about it or why behind it for a couple weeks/months!