Algorand Foundation Announces 2024 Governance and xGov Plan, Plans to Launch Consensus Incentives in Q3

According to official news, the Algorand Foundation announced key initiatives and developments in the 2024 governance and xGov plans, including:

-Governance:

Q1: 30 million ALGO will be distributed as governance rewards in GP (governance period) 10;

Q2: 27.5 million ALGO will be distributed in GP11 as governance rewards;

Q3: 32 million ALGO will be distributed as consensus rewards; if consensus incentives are delayed, 25 million ALGO will be distributed in GP12 as governance rewards;

Q4: 27 million ALGO will be distributed as consensus rewards; if the consensus incentives are delayed, 22.5 million ALGO will be distributed in GP13 as governance rewards.

-xGov aspects:

Q1: The third phase of the xGov grant pilot will last until March 10, 2024;

Q2: The fourth (i.e. final) phase of the xGov grant pilot has begun; xGov v1 public beta development has ended; xGov’s guiding principles and charter will be jointly developed with the community;

Q3: xGov v1 public beta and project-led rewards will begin;

Q4: xGov v1 public beta grants and project-led rewards continue.

The Algorand Foundation says it prioritizes decentralization and security, so it will reallocate funds from the governance reward program to directly incentivize consensus participation. Once consensus incentives begin (targeted to launch in Q3 2024), Algorand governance and DeFi incentives will be deprecated from that point on. If consensus incentives launch later in 2024 (i.e. Q4), governance reward payments will be extended to avoid a gap in incentives.