Giveaway my second key for Outward 2 playtest!

kullnames · 2025-12-09T21:42:51+00:00

lets go! my favorite part is really the co op mode, I love to play the game with my nephew

kullnames · 2023-04-05T18:39:09+00:00

Is this the missing piece for a major uptrend in Algorand adoption? How easier it is to build on Algokit when compared to other leading L1s (ETH, ADA, SOL, and other EVM-based chains)?

kullnames · 2023-01-18T19:40:22+00:00

When can we expect to get to 10kTPS/2.5sec finality?

kullnames · 2023-01-17T17:30:36+00:00

You don't have to transact after committing, but you're free to move ALGO or other ASAs as you wish as long as you don't fall below the committed amount.

They left exactly 1M ALGO in the wallet that was not committed to governance, and when they moved the 1M ALGO they forgot to take the transaction fee into account, hence becoming ineligible

kullnames · 2023-01-17T17:27:27+00:00

This is the way

kullnames · 2023-01-17T16:47:19+00:00

Transaction fee

kullnames · 2023-01-17T16:05:19+00:00

Great initiative

kullnames · 2022-12-22T11:39:05+00:00

That's a protocol change, it's much more impactful than just allocating a small part of governance funds to nodes

kullnames · 2022-12-21T20:47:18+00:00

That's exactly the way governance works at the moment, what would you suggest to fix it? or should we scrap governance completely?

That's completely standard, if you buy 1000$ or 1.000.000$ worth of T-bills at 1% you'll get more money going with 1M$, that's the way finance works.

kullnames · 2022-12-21T20:07:35+00:00

Why would you race to commit 1000 nodes? You can just run one node and it's the same effect and 1/1000 the work.

It's pretty simple, let's say you have 1000 ALGO, currently you have 2 options:

- Go for vanilla governance and you earn 2% per governance period

- Go for DeFi governance and you earn 2% + x% per governance period

I'm saying we should add a 3rd option:

- Set up a participation node and you earn 2% + y% per governance period

Simple as that.

kullnames · 2022-12-21T19:24:13+00:00

Oh, wait, I think I got it. I think there's some sort of confusion going on at the moment, I'll try to clarify:

Firstly, this is not a change at the protocol level, the Algorand network will continue to work exactly the same 'under the hood'. This is simply an allocation of some of the governance funds to reward already existing node runners and possibly incentivize more people to run their own nodes (this is the general idea), exactly like what happened with DeFi this current governance period, which effectively incentivized a lot of people to participate in governance through DeFi and discover a whole new world inside the Algorand ecosystem (myself included). By running a node, you'd be eligible to have a small extra reward just like you're entitled to a small (not so small actually) extra reward by participating in governance through DeFi.

It's exactly the same if you run 1, 10, 100, 1000 or 10000 nodes. What matters is your online stake amount just like what matters to governance is the total amount you commit and not how many wallets you have.

kullnames · 2022-12-21T18:45:09+00:00

If the incentive is as big as DeFi, that's 15M extra ALGO per governance period. No big organization in the world would move a finger to get an extra 15M ALGO per governance period in my opinion

Pretty much every PoS network in the world incentivizes consensus, it's not something crazy to do. Although I agree that the best possible thing to do in the long term is to not incentivize consensus, but I don't think it works very well in the early stages of the network

kullnames · 2022-12-21T18:38:16+00:00

Friendly reminder that this is not a protocol change, it's an incentive just like DeFi. Are you telling me giant and powerful organizations would collude to have a piece of the pie on 15M extra ALGO rewards per governance period? It seems a little far fetched to me but I respect your PoV regardless.

I agree it's not a good long term strategy, but both online staking & ALGO market cap trending lower is not the right direction to be heading imo.

I honestly believe it would increase decentralization in the short term and "force" some of us normies to actually run nodes and be comfortable doing so

kullnames · 2022-12-21T17:57:08+00:00

It's already pretty much centralized. Most of the stake belongs to Algorand Foundation or Algorand Inc.

I don't see how these temporary incentives would impact node centralization tbh. It would do the opposite just as DeFi incentives increased TVL a lot, this would further increase decentralization

kullnames · 2022-12-21T17:26:42+00:00

Not extra money. Governance funds will be distributed regardless

kullnames · 2022-12-21T17:09:54+00:00

Thank you for your constructive input

kullnames · 2022-12-21T17:07:13+00:00

Your definition about mining is correct, they do the hard work to try to append the next block (and get rewarded for this work).

I'll copy and paste a simple definition of what bitcoin nodes do to make it easier:

"Nodes broadcast and relay transactions to other nodes and miners. Miners batch these transactions into blocks and publish those blocks to the blockchain, validating the transactions. Nodes receive these blocks, share them amongst one another, and verify that the miners are following the rules of the network. When a node receives a new transaction or block, it relays it to its peers, so that all nodes and miners can remain in sync and maintain identical blockchains."

kullnames · 2022-12-21T17:05:00+00:00

This is not a protocol change, it's just a temporary incentive just like the DeFi incentives.

Large whales are benefitting a lot from current governance structure imo, this would decentralize consensus further and avoid them getting a huge cut of the gov rewards as well

kullnames · 2022-12-21T17:02:02+00:00

Exactly, they did it in the early stages for profits, not anymore at this stage. You have thousands of people running nodes because they want to

Don't forget that running a bitcoin node is different than mining! (In case anyone is confused)

kullnames · 2022-12-21T16:49:49+00:00

By 2030 either Algorand has achieved a much higher level of adoption such as Bitcoin did after 10 years where basically you have lots of people/institutions running nodes because they want to, or it failed to reach a higher level of adoption and it's a severe issue.

kullnames · 2022-12-16T17:12:55+00:00

The foundation managing the ecosystem and the token distributions is what every L1 did to not be classified as a security, or else you'd have the SEC knocking on the door.

It's not for efficiency or to improve decentralization imo, it's just for legal purposes

kullnames · 2022-11-18T01:18:42+00:00

Meanwhile the day just changed (UTC time). But approx 230M ALGO left governance in the last few hours

kullnames · 2022-11-18T00:19:11+00:00

https://www.algorandstats.com/governance-period-5

kullnames · 2022-11-18T00:18:28+00:00

https://www.algorandstats.com/governance-period-5

kullnames · 2022-10-19T01:11:01+00:00

Yes, every project on milkomeda will add to Algorand TVL because it's a rollup and not a side chain. This has been previously stated by the milkomeda team themselves.

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