Liquid Staking Will Receive DeFi Rewards Boost From Algorand Governance In GP10

Messina.one
2 min readJan 5, 2024
Targeted DeFi Rewards — mALGO Pool

05 January 2024 — Algorand liquid staking on Messina.one is set to receive a boost for its second staking period with Targeted DeFi Rewards!

Messina.one was blessed to receive 181,671 ALGO from Algorand Governance Period 9 for distribution in Governance Period 10. 20,000 ALGO has been awarded to AlgoRai.Finance, 13,000 ALGO to Pact, and 15,000 ALGO to Tinyman. Finally, we are awarding the remaining 133,671 ALGO to liquid staking users!

These rewards will be awarded at the end of March 2024, with the exchange rate for staking and unstaking ALGO for mALGO only updated when Governance Rewards for GP10 are released at the beginning of April 2024. This means that staking will continue at the current exchange rate until then and holders will benefit from the boosted price increase!

Thank you to the Algorand Foundation and all governors for this initiative to incentivise our DeFi ecosystem!

Liquid staking on Algorand is a new innovation and we look forward to bringing more options for Algorand users to harness yield with convenience and safety at the heart of our mission.

  • N.B. Messina.one reserves the right to alter the DeFi Rewards distribution structure over the program period, as per the discretionary mandate given to it from the Algorand Foundation, if some APR is not being appropriately allocated and/or utilized effectively. As per the guidelines, 100% of the ALGO will be distributed, with no additional leftover funds held by Messina.one.

About Messina.one
Messina.one is Web3 reimagined, purpose built to enable a decentralized omnichain future for everyone. Our interoperability tools dissolve barriers between blockchains, giving users the freedom to navigate Web3 seamlessly. Through Dapps that are simple and intuitive, we enable a future where information and value can be easily accessed anywhere.

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Messina.one

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