Advancing Our Pieces: mALGO transition from governance to consensus.
mALGO is designed to enhance the liquid staking user experience and make participation in DeFi as effortless as possible. Messina launched mALGO for Algorand Governance Staking in September 2023 to introduce pure liquid governance so it is possible to participate in governance while adding much needed flexibility to the DeFi landscape on Algorand.
mALGO ties the governance rewards to the token itself, accruing value with each distribution period by increasing the exchange rate of mALGO relative to ALGO periodically. Voluntary voting also allows holders of mALGO to simply set and forget and not risk missing out on rewards if they did not vote. Thanks to this innovative design, governors can enter a liquid staking position by minting mALGO during the staking window or simply acquiring mALGO from any supporting DEX at any time, and they can exit mALGO even outside the staking window by redeeming it for ALGO.
With mALGO, Messina aims to truly capture the interests of the community and offer a solution that embodies the “people’s liquid staking token”.
So then “The Réti” happened.
mALGO Adapts for Future Gambits.
The Algorand Foundation announced its 2024 road map earlier this year and highlighted the plan to introduce consensus incentivization (The Réti). It means the network will change its behaviour on how it rewards block production, encouraging more ALGO to be staked and increasing the number of consensus nodes dedicated to the security and decentralisation of the network.
As a result of this significant change to how Algorand operates, incentivised governance will be coming to an end, leading to a consequential change to its liquid staking landscape.
mALGO is all about effortless staking and Messina intends to keep it that way by running and managing nodes on behalf of our mALGO holders and users. It will feel the same, it will look the same, and it will remain as the original all-inclusive dynamic liquid staking solution for the community of Algorand.
Stay tuned to our social media channels for more updates on Messina and mALGO.
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About Messina
We dream of a future where information and value can be easily accessed anywhere. Messina uses the latest advancements in blockchain so Web3 users can get the best out of every ecosystem without compromise and navigate them seamlessly. Through a protocol that is simple and intuitive, we enable interoperability.
