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Am I getting this right? At the point when decentralisation should be celebrated, AlgorandFoundation is launching a scheme to centralise stake?!? (zerobytes.monster)

submitted 5 days ago by [email protected] to c/[email protected]

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The original post: /r/cryptocurrency by /u/Adventurous-Ad-101 on 2024-12-31 04:00:49.

For those who don’t know. Algorand’s network is going through an update to introduce staking rewards in January.

TDR, known as defi rewards, were a governance controlled pot of funds that would be voted on quarterly.

Voting has been removed, and these rewards are now being gifted to a handful of “defi” platforms. I say defi as these platforms are decentralised via the use of a contract but centralised in bother ownership and decision making.

The largest funds appear to be blocking competition via over incentivising node reward pools.

WTF have I read today. Is this right?

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