Liquid Staking 1 Receives Targeted DeFi Rewards Boost From Algorand Governance G9
Liquid staking on Messina.one is set to receive another boost for its first staking period with more Algorand Targeted DeFi Rewards!
During Algorand Governance Period 7, governors voted to “Boost” DeFi with Targeted DeFi Rewards, and Messina.one was blessed to receive 106,525 ALGO in G8 (of which 56,525 ALGO was awarded to liquid staking) and will receive 91,846 ALGO in G9. We are awarding the full 91,846 ALGO to liquid staking!
These rewards will be reflected in the exchange rate for staking and unstaking ALGO for mALGO when Governance Rewards for G9 are released at the beginning of January 2024. This means that staking will continue at the current 1:1 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 Targeted 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.
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.