Jan 12, 2020
Disclaimer: Algorand Cayman SEZC , a Cayman Islands subsidiary of Algorand, Inc., is the sole owner of all tokens held by any of Algorand, Inc. or its subsidiaries. References to “Algorand” in this transparency report refer to Algorand Cayman SEZC, and all transactions described in this report that use the Algo are made by Algorand SEZC with non-US counter parties.
Algorand is committed to providing full transparency into our actions and token holdings. As previously outlined, we will be providing transparency reports on a quarterly basis. This report covers the period from November 7th, 2019 through January 9, 2020. Previous reports and our wallet addresses with our token holdings can be found here.
As of January 9th, Algorand beneficially owns 2.016B Algos (up from 2B at launch). Of those, 1.792B are held in the wallets we have publicly shared, and for the remaining 224M Algorand maintains legal ownership but not physical custody (as described below).
As of the publishing of this report, Algorand has not sold any Algos on the secondary market. The company plans to sell a limited amount of tokens in 2020 with the goal of funding development initiatives; sales will be conducted via a structured program as outlined below. For calendar year 2020, Algorand commits to selling only rewards earned for supporting the network, and may sell fewer or no Algos at all.
Use of tokens
To date, there have been two primary uses of tokens held by Algorand: 1) incentives to build and contribute to the growth of the Algorand platform, and 2) development and growth of the financial ecosystem.
Incentives to contributors and application developers through token grants, competitions, and investments.
Total Algos: 155M (up from 111.2M at last report)
Development of the financial ecosystem by encouraging growth and liquidity through support of partner solutions including lending, staking, and market making.
Total Algos: 135M (up from 71M at last report)
All other token movements represent internal transfers between wallets for rebalancing to ensure that participation remains below a 49% threshold at all times. Our commitment to this threshold and our focus on responsible decentralization is described in more detail here.
2020 Token Sales
Algorand is planning to sell tokens periodically in 2020 to fund development initiatives. Any sales will follow the guidelines below which have been designed to limit market impact.
For any Algos sold by Algorand:
For calendar year 2020, Algorand commits to sell no more than the rewards earned for supporting the network on the secondary market, and may sell fewer or no Algo. Details on any tokens sold will be included in future transparency statements. As of the publishing of this report, Algorand has not sold any Algos.