Nov 06, 2019
Disclaimer: All tokens belonging to Algorand Inc. and it subsidiaries are held by its Cayman Islands subsidiary Algorand Cayman SEZC (referred to as “Algorand” in this report), and all transactions related to the Algo are made by Algorand with non-US counterparties.
In an effort to provide full transparency on the actions of Algorand since the network launch on June 19, 2019, we are providing the following details on token holdings and use of tokens to date.
Since launch, we have updated our wallet lists on an ongoing basis, and will continue to do so as a standard practice. We will also provide transparency reports on a quarterly basis going forward. To that end, this is our first transparency report, and covers the period from launch on June 19 through November 6, 2019.
This is in line with our current statement of use and wallet addresses that can be found at https://www.algorand.com/resources/blog/algorand_wallets2.
We have not sold and have no plans to sell tokens on the secondary market at this time, and reiterate our commitment that in advance of any selling of tokens, we will publicly share a structured selling plan with the community.
As of November 6th, Algorand beneficially owns 2.027B Algos (up from 2B at launch). Of those, 1.866B are held in the wallets we have publicly shared, and for the remaining 161M Algorand maintains legal ownership but not physical custody (as described below).
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: 111.2M
Development of the financial ecosystem by encouraging growth and liquidity through support of partner solutions including lending, staking, and market making.
Total Algos: 71M
All other token movements represent internal transfers between wallets for rebalancing, to ensure that participation remains below the 49% threshold at all times. This threshold and our focus on responsible decentralization is described in more detail here.