🏦gALGO - Algorand Governance

Visit the following page before interacting with the ALGO Liquid Governance to understand how it works.

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

Commit

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On Your Wallet table, click on Commit.

2. Type in the amount you want to commit.

3. Click on Commit.

4. Sign with your wallet.

Leveraged Commit

Leveraged commit allows users to loop their governance commitment with up to four (4) times multiplier. It is a loan position using gALGO as collateral to borrow ALGO.

For technical aspects, have a look at this page.

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On Your Wallet table, click on Leveraged Commit.

2. Type in the amount of ALGO you want to commit.

3. Selects the leverage.

4. Choose between Stable or Variable APY.

5. Click on Commit.

6. Sign with your wallet.

Leveraged Commit (Repayment)

If you committed with leverage, you can now easily repay your loan to unlock your gALGO using the Repay with Collateral feature.

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On the ALGO Liquid Governance page, click Manage on the loan you like to repay.

2. Click Repay on Algo under Your Borrows. A modal will appear. Select Use Collateral.

3. Select gAlgo as the asset you use to repay. Click Repay and sign with your wallet.

4. Once the Algo is repaid you can remove the gAlgo from the loan by clicking Reduce on gAlgo under Your Collateral.

5. Select the amount then click Reduce Collateral and sign with your wallet.

6. Click on the garbage bin icon to delete the loan.

7. Now, you can redeem your gAlgo for Algo back on the Liquid Governance page.

Swap and Commit

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On Your Wallet table, click on Swap and Commit.

2. Select the asset to make the swap with.

3. Type in the amount you want to swap.

4. Click on Swap and Commit.

5. Sign with your wallet.

Rewards

The rewards of the governance period will be sent directly to your wallet as soon as the foundation distributes them

Redeem

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On Your Wallet table, click on Redeem.

2. Type in the amount you want to Redeem.

3. Click on Redeem.

4. Sign with your wallet.

Uncommit

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On Your Commitment table, click on Uncommit.

2. Type in the amount you want to uncommit.

3. Click on uncommit.

4. Sign with your wallet.

Voting

The UI undergoes regular upgrades; what you see in the video may look slightly different than what you see on the app.

1. On the Algo Liquid Governance page, click on Vote on the right side of the page.

2. Here you can read and vote on proposals from the Algorand foundation and Folks Finance, switching between the two at the top of the page.

3. Once you've made your voting choice, click on Vote at the bottom of the page. If you choose not to vote, select Abstain. Then sign with your wallet.

4. To change your vote: -select another voting option; -click Update Vote at the bottom of the page; -sign with your wallet;

xGov Program

The xGov program is a community-sourced solution for proposing measures into traditional Algorand Governance. It aims to further decentralize the governance process and empower users in decision making on Algorand.

Folks Finance support xGov sign-up in Algo Liquid Governance starting from Governance Period 7 Q2 2023. When committing your ALGO on Folks Finance, users will have 2 options: sign up as an xGov or sign up as a general governor.

If one chooses to be an xGov, the Algo rewards that one would have received are now the xGov’s voting power in the xGov program.

Note you will not be able to change your decision to be an xGov or not after you have chosen in the current period.

Once Folks Finance registers an xGov, it is the xGov’s responsibility to fulfil all further requirements in order to maintain their eligibility in the xGov program

Traditional Governors may continue to use Folks Finance and will never have to worry about becoming ineligible or losing rewards due to not voting. Folks Finance will proportionally allocate unused voting power equally among the Folks Finance Governors who voted in a given period.

Read all the details about xGov program here.