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ALGO Radio: Algorand Community Town Hall: June 2025
Recorded: June 11, 2025 Duration: 0:57:10Space Recording
Short Summary
Algorand celebrates its sixth anniversary with significant growth indicators, including a 4.2% rise in active users and the successful launch of key partnerships and projects. Notable developments include the integration of Artemis, partnerships with Crypto.com and BitTrue, and the launch of the Para Debit MasterCard, all contributing to the ecosystem's expansion and user engagement.
Full Transcription
The Thank you. Music Thank you. I'm going to go to the next video. Thank you. Well, good morning everyone good morning everyone um welcome to algo radio uh this is going to be a
new experiment uh for us uh let me first introduce myself and the other um speakers on the call so my name is mark vandenberg and i look after
strategy and marketing for the foundation and i'm joined by a number of my colleagues and i'll let
them introduce themselves first there is simon hello i'm simon bon. I take care of BI and analytics for the foundation.
Fantastic. Welcome Simon. And then we have Devin.
Hello everyone. I'm Devin Morthy looking after business development and partnerships at the foundation.
And last, but definitely not least, we have Fred.
Hey Mark. Hey Algo fam. Hey, everyone.
This is Fred. I lead DeFi here in the Algon Foundation.
It's a pleasure to be here today.
Fantastic. Fantastic.
So today is also a special day
because it's the sixth anniversary of Block Zero.
So I'm very excited about that.
So this is something new that we're trying.
As you know, we've been sending out monthly
Algo Insights reports since I think we started this October,
November of last year.
And so we figured it'd be interesting to actually
do a community town hall to coincide with the release
of the latest Algo Insights report.
That allows us to go through that report with you all,
mention and specifically talk about some of the highlights of the previous month,
but also then open it up for conversation and discussion afterwards.
So this is the first experiment.
This is the first try, so we'll see how it goes.
And our plan is to do this on a monthly basis.
So with that, let's get started.
And as in the Algo Insights report,
we always start with metrics.
So let's kick it off with Simon
and talk about some of the highlights
from a metrics perspective in the month of May.
Simon, go ahead.
Thank you very much, Mark.
I'm very glad to be here, guys.
So what did we see in May?
We had a very strong user engagement.
In fact, our monthly active users grew by 4.2%,
assets creation by 4.7%,
and our TVL for our WA by 2.6%.
We also had two interesting milestones.
One was we reached the 3 billion transaction,
and also for the month of May,
we had an increase of 2.2% in our transaction count.
What's interesting to see here is that we analyzed,
the first billion took 1,300 days approximately,
the second billion 529 and the third 335 days.
So we're seeing the billion total algo stake,
which is a great commitment from the community and the users.
We also noted that from end of 2024 till May, there was a 60% increase.
percent increase what's interesting about this number is that the foundation has reduced its
staking by a considerable amount so the increase is coming obviously from the community and last
but not least from the metrics social engagement was also very positive and made particularly on Instagram, where we saw an 11.2% community growth.
Now, another thing from the metrics part is, as you all know, in May, we launched live the Artemis integration.
Artemis is a very popular platform, very easy to use, provides a lot of insights in a simple way to compare versus other
chains and to analyze Algorand. And I have to say thanks to the Artemis team, which were very helpful
and the launch was successful. And now what's interesting to see is that we are live on Token Terminal, some other platforms, and mostly Nansen and Artemis, which are quite popular.
And what we're seeing is we've seen increased posting from Nansen in the last few weeks and also from Artemis.
And this was all part of the Fix the data strategy which seems to be working very well
and what i'm pleased to say and then i'll hand over back to mark as some of you noted yesterday
on twitter aixbt the famous crypto bot twitter posted about algorand what was interesting is
that the data was obtained from Nansen and CoinGecko.
So the fact that we are on some major platforms of the analytics genre is helping us getting more visibility.
And that's all from the metrics part. Back to you, Mark. Thanks.
Simon, thanks. Thanks so much. So let's move to BD and Devon.
And this has been also a pretty busy month for BD.
Devon, go ahead.
Thank you, Mark. I'm excited to be here and give an update to the community
from the business development and partnerships team.
To set a context, the purpose of this team is to increase the accessibility
of the Algorand ecosystem, specifically in relation to accessing the assets on Algorand, increasing staking options and our interoperability with other chains, as well as bringing on new use cases that help drive volume and activity on Algorand.
To that end, there have been some recent wins that we'd like to call out specifically.
To that end, there have been some recent wins that we'd like to call out specifically.
Firstly, roughly a month ago, Crypto.com announced that they were adding deposit and withdrawal
support for USDCA.
There was also an associated campaign to drive volume through that integration.
And we're very, very happy with this partnership.
Crypto.com currently ranks 11th for volume on coin market cap
and has a robust and ever increasing amount of connections to traditional payment rails in
multiple countries meaning that this is a big win for accessibility of stable coins on algorand
that's also more to come on this partnership it was multifaceted and the second part of it
partnership, it was multifaceted and the second part of it
should be live in the coming month or so. So everyone can keep
their eyes out for that.
Similarly, you will have seen that BitTrue was another exchange
that enabled USDC deposits and withdrawals on Algorand as well.
They also added the ability for users to stake their algo from within the
exchange platform, which is great for that staking accessibility piece that we mentioned.
We're also looking to get more exchanges to add this functionality as they typically hold
a lot of algo and can really help to secure the network. Typically, exchanges will utilize staking as
a service provider to enable staking for their users. So making sure that these providers
support Algorand is another key pillar for staking accessibility. And to that end, you will have seen
that p2p.org, a leading staking as a service provider, has also announced support for Algorand staking in May.
This follows Kiln adding Algorand support and just give exchanges and other large holders of Algo as many options
as possible for when they build their staking programs.
And lastly, before I hand it back, Midas, a fully regulated German tokenization platform,
launched their MT build token on Algorand, making us their first non-EVM chain.
I won't speak too much about this one today.
There are some accessibility things
that we need to implement for this as well,
but it was very, very cool to see the atomic transaction
that took place to exchange USDC to the MTBuild token.
And with that, I'll hand it back to you, Mark,
but looking forward to any questions that come later.
Thanks, Devon.
And if I remember correctly, that atomic transfer was basically $2 million that was switched, that was swapped for empty bills in two seconds for how much was the $0.0004, right, in cost.
Exactly. Zero counterparty risk. And I think really important to show off some of
the Algorand-specific advantages in the RWA space. So it was great that we shouted out about that.
So, Devin, did I hear this right, that you're saying that there might be some centralized
exchanges going live with staking on Algorand? Yes, that is correct, Mark. But, you know, as I often say,
there's a limit to the things that we can announce before they're done. But I guess everyone can rest
assured that myself, Ryan Kalil, who's also on my team, and a few others were in active discussions
with all of the major exchanges for the particular focus on
you know the top 15 um to to add algorithm staking and then also to improve the experience of our
grand staking within those um exchanges so first step is to just get the functionality and then
the second step is to to make it um to make it as seamless as possible keep your eyes peeled more to come there
i was trying to extract some alpha here but like i guess i guess i'll have to wait a little bit
longer yeah exactly no no insiders here so um as soon as we and look as soon as we can announce
these things we will we will announce them so okay great i'm looking forward to it. Thanks, Devin. OK, let's switch to ecosystem.
Fred, what's been going on in the ecosystem?
Give us an update.
Yeah, Mark.
Oh, man, it's a lot.
It's been a very busy few months since we launched Staking.
But before I even cover very quickly
what the highlights of our ecosystem from the month of May,
I just want to touch on two quick points that you and devon just talked about uh number one is on midas so no just
following up on what you mentioned because i keep seeing of course the community talking a lot and
of course myself keep getting a lot of games about this we are you know actively exploring uh how to
bring the midas mt builds into our edify ecosystem. Okay, that is an obvious thing, an amazing thing that we can do.
It has legal implications that we have been working very diligently
with Midas's legal team, our legal team, some of our partners
in the DeFi ecosystem, which you guys all know who they are, to ensure that
we can bring this to the ecosystem with full, just assurance
that everything is good, right? Everything's fine. So we can bring this to the ecosystem with full, just assurance that everything is good, right?
Everything's fine.
So we can distribute these tokens.
These tokens can be added to many markets, to DEXs, et cetera.
And in addition to this, we're also
exploring and advancing the infrastructure
for the MIDAS token, right?
So figuring out how to make this composable
within the DeFi ecosystem, the access points, the oracles,
and all of that stuff that's needed to make this composable within the DeFi ecosystem, the access points, the oracles, and all of that stuff that's needed
to make this truly an asset that is going to enhance the quality of our DeFi ecosystem.
So we have been actively working on this,
and we expect to have some news to share in the upcoming weeks
as these assets finally make their way into our DeFi ecosystem.
So just stay tuned, AlgoFam.
You will be the first to know as soon as this is ready to roll.
So that was point number one that I wanted to make, Mark mark on the point that you and Devon were just talking about. And then point number two, just on staking at large, that I also
keep getting questions, you know, for all the people that, you know, check the ReadyPool dashboard
in a daily basis. We all know that p2p.org is there. And yes, it's coming soon. Okay. They just
actually just mentioned a couple of days ago
that they have a few clients coming up online as well soon.
So we expect P2P to become very active very soon, okay?
Stay tuned.
But okay, so let's talk about ecosystem
in the month of May, Mark, shall we?
Yes, absolutely.
Go ahead.
All right.
So, man, it was such a big month,
but of course, the highlight absolutely has to go to Para, right?
I mean, Para was on fire on May.
And I think maybe we start with the biggest of them all, which is obviously the launch
of the Para Debit MasterCard in partnership with, obviously, MasterCard and Immersive.
That has been very exciting.
It was the combination of a very, very long time and a lot of
work that the para team put into this. And now, of course, as they have recently shared in the
community to all and all, they have lots of efforts to increase access and distribution to
other countries. But that was a huge win, not only from the technical perspective, but also just like
the regulation and making sure that this can actually exist and be live, right? So that was like super interesting and very excited to see its continued
growth in our ecosystem and outside of our ecosystem. But that was not the only thing
that Para launched in the month of May. They released so many features. It's really hard to
count. It's hard to keep track of everything they're building. The team is very busy over there.
But they launched the Para,
the ecosystem router aggregator.
So basically making trades even smoother
and more efficient across the board
for everybody using the Para wallet
to do DeFi trades,
swapping between tokens, et cetera.
So it's even better now than it was before.
They released a bunch of Call of Life updates,
a lot of updates around NFT data.
So added more information on NFT collections.
They added support for ARK62 in the Explorer
and a bunch of other excellent Call of Life features
and upgrades for our ecosystem.
So if any of you out there are living under a rock
and not using Peril,
you should absolutely check it out.
Lots of great things came to the wallet just in the last couple of weeks.
In the RWA space, there's no way that we cannot do a major shout out to our friends from Lofty.
Because during the month of May, they reached profitability, which is an incredible thing,
especially in the business that they're going to tackle, trying to revolutionize the real estate business in the United States.
So Lofty has reached profitability, and they also reached an incredible milestone.
They have distributed over $4 million in rent payouts to all of the fractional owners of their properties in the platform.
So that was a huge milestone for them.
Shout out to our friends, Alofty, for this.
On the DeFi side of things, again, very, very busy month. All the projects launching
major updates, new products, etc. So we celebrate TinyMan, them reaching
continuously, almost on a weekly basis, a new all-time high of governance participation.
So it's really beautiful to see the algorithm community
just engaging more and more every single week
on TinyMass governance.
And they also launched a feature that I'm particularly
very excited about, which is the introduction of limit orders
and DCA orders on the platform.
So for all of you DGMs out there,
now you have a much easier and better way
to DCA in and out of your your positions by using the the limit orders and also of course
the dca functionality uh our friends from compacts launched also a bunch of updates lots of you know
uh ui ux improvement etc they launched their governance rewards a pretty cool structure lots
of governance votes already underway.
I highly recommend you all check it out.
And Compaqs also released the auto compounding farms.
Excellent stuff for all of you chasing yield.
You get the best of both worlds with the auto compounding farms.
Our friends from Pact, also in partnership with Compaqs
in a way, they also launched the Consensus Farms, which is a great product.
It's been seeing some interesting traction recently.
Folks Finance has launched an amazing activity dashboard
on Nansen that was a collaboration work between the Folks Finance
team and our own foundation team.
And it's getting a lot of visibility on Nansen.
So kudos to everybody involved.
And of course, Mr. Simon here in the speaker board
was heavily involved in this as well.
So kudos to all of you.
It has brought a lot of visibility to Fox Finance
and DeFi on our ground to people outside of our community,
outside of our ecosystem.
And Fox Finance also launched the registration
for the Founder Pass.
So I hope the Algo fam saw that.
And most of you, if not all of you,
have already registered to get your own Focused Finance
Founder Pass.
The team from Vestige also does not stop building.
They launched several, several, several quality of life
upgrades to the Explorer.
It is an incredible experience now
to figure out everything that you want to know
or that you want to know or
that you can know about your favorite tokens so now you just have lots of metrics and statistics
uh to you know to help your own analysis and vestige aside from that they also launched a
portfolio page so you can basically just track everything about your own portfolio great stuff
and to wrap up you know i think think my update on the DeFi side,
also just a big shout out to the MIF finance team, because they launched so many dual stakes
over, dual stake tokens over the month of May, that basically combines, you know, the best of
everything, right? So you combine your meme coins and your top ecosystem tokens with algorithm
staking. So there's your increasing DeFi activity, your increasing volume, you're making everything
healthier, and you're also securing the network at the same time and obviously getting the
rewards for doing so.
So it's just like a fantastic product.
Shout out to D13 and MIF Finance.
And I think, Mr. Mark, that's all that I had to share for today.
You know, these are just some of the highlights,
but I highly encourage all of you to go back and read
the May Insights report again, because there's
a lot more stuff over there.
I don't want to be here for the full hour talking on stop.
But it's been very busy in our ecosystem.
Super exciting times.
Wonderful.
Thank you, Fred.
And on a personal note, I'll talk to you
about my personal activities.
So I did the dual staking with Monko, which I really enjoyed doing.
And I actually got a share in the first US post office that is on Lofty, which was pretty cool to see.
So now I can claim to be a co-owner.
That's awesome, Mark.
But I'm glad you shared this because I was really expecting you to just shield your own ready pool again, Marc. So I'm glad you didn't do that this
time.
I did not. I did not.
Thanks, Marc. Back to you.
Thank you, Fred. Thank you, Fred. So there's two more topics that I wanted to specifically
talk about before we kind of open up the questions. And one is I want to give you an update on
how we're doing from a developer growth strategy
and developer marketing strategy.
And the second thing I want to give you an update
on where we are with X-Govs,
which I know is something that's top of mind
for many in the community.
So let's talk about developers first.
So as you know, we've had the strategy since last year,
since the launch last year of AlgoKit with Python, we've had the strategy to go after Web2 developers and convince Web2 developers to start developing an algorithm because we have the easiest to use toolkit available in all of crypto. really big market opportunity because if you look at stats from let's say electric capital and you look at the total amount of developers in the crypto ecosystem you see that that number is
kind of flatlining or actually slightly going down so there is across the crypto industry there is
not a huge amount of influx of developers into crypto which i think is a fundamentally big issue
if crypto ever wants to kind of break into the mainstream. And so our strategy all along has been to attract Web2 developers and create the best
possible onboarding experience for them. And so last year we launched AlgoKit with Python. This
year we launched AlgoKit with TypeScript. And so we're all in on really trying to attract those those web to developers
the question is how do you do that best it's not that easy um it's great that there's over 10
million python developers right and it's great that there's over even more TypeScript developers
but how do you reach them and how do you convince them to kind of move over that has been that is
not an easy challenge because it's like trying to find the needle in a haystack, right?
It's like if you do like a big campaign
and you're talking to all the TypeScript developers,
only a tiny, tiny, tiny portion of them will be open
to kind of start developing on blockchain.
And so you have to kind of find the right ways to kind of reach them.
And so we've made a number of changes this year
to better fine-tune our
approach towards that and i want to briefly talk about that um one is um first of all we're doubling
down on making sure we're creating the right technical content to match the experience and
the maturity of developers that are new to our grantand. And so two big things happened there.
One is we, the DevRel team launched a new dev portal
at the end of March that completely revamped
our documentation.
And that is a great tool for people to check out.
And it's complete up-to-date documentation
about how you develop on Algorand.
The second thing that we started rolling out in May
as well on the back of the new AlgoKit launch was workshops.
And so the DevRel team organized this four hour long workshop
to get you from zero to hero and get you
to develop smart contracts over the span of four hours,
which is great
the second thing that we did we started organizing master classes and this these master classes were run by the ecosystem team and they were going after a different audience they were going after
an audience that was not necessarily a highly experienced developer but maybe more of an
entry-level developer maybe more of an entrepreneurial builder with bright ideas that really is trying
to figure out like how do we play in this game?
How do we basically, you know, start developing for a blockchain?
What is a blockchain good for?
And so we've basically created a whole new layer of, like, education to reach kind of
more entry-level developers and builders and entrepreneurs.
And these masterclasses were a tremendous success.
We had thousands of people sign up for them.
So that was great to see.
So that's part of our strategy to kind of double down
on meeting developers where they are with the content
that matches their skill level.
So that's one thing that we did.
The second thing is we are relying more on partnerships,
rather than us trying to do all the heavy lifting,
trying to go find those developers and finding, as I said, the needle in the haystack. We are more aggressively
partnering and we're partnering at two levels. First, we're partnering with onboarding partners
and think about Ryzen, think about EZA. Those are well-known companies that basically onboard
developers into Web3. If you look at the partners that they have been working with, you can see all the major blockchain companies
partner with them.
And so we decided to go that route because they,
typically if you're a Web2 developer
and you're interested in kind of Web3,
you will kind of reach out to one of those partners,
you become part of the ecosystem, they will help you,
they will train you, they will onboard you.
They have like learning curriculums
that are specifically designed for Web2 developers. So we're working with them to create these specific learning curricula
uh to make it easy for for for developers to onboard into our grant we're also partnering
with them to organize hackathons uh with eza we'll have two hackathons we'll have one in the uk we'll
have one in the us with ryzen we'll have hackathons in the countries that they are very good at, which is complementary to what EZA is doing.
So we're more heavily partnering with those types of companies
to attract developers. The second thing related to that
in terms of partnerships, the same is true for hackathons.
We are going to heavily partner on hackathons,
which will allow us to actually do more hackathons and and which will allow us to actually do more
hackathons and get more people in the door and a good example of this strategy you're seeing
happening right now with the bolt hackathon we had this opportunity bolt announced last month
that they were trying trying to break the world record for largest hackathon ever and reach 100,000 developers,
we reached out to them and said, hey, we would love to participate in this hackathon and partner
with you, and we want to sponsor a blockchain track. And that's what we've done. We are now
the official exclusive sponsor of a blockchain track in the Bolt hackathon and so this is an example of how we're partnering with third
parties to reach developers and and on board them and help them and and make it as easy as possible
for them to kind of onboard them to the algorithm so um so that's um the the second strategy the
third one is if you think about like meeting developers where they are you have to be at
web2 events and we've had quite a bit of success with that.
And so if you look at the month of May, we were at PyCon in the US.
We were at the International JavaScript Conference in London.
And interestingly enough, there's very few blockchains at those conferences.
We kind of had the show for ourselves.
And so that's been very, very successful for us. we've seen a lot of interest from developers coming to our booth and trying to understand
you know how what blockchain is how it can work and and how they can how they can be part of this
movement and so we will continue to do that we'll continue to be at those web 2 developer conferences
but we also need to be at web 3 developer conferences right so we were at eDenver this
year we're going to be at ECC in a month from now we're going to be at web3 developer conferences right so we were at e denver this year we're
going to be at ecc in a month from now we're going to be at dev connect uh towards the end of this
year and so we need to be within we need to be present at those typical web3 conferences as well
and you know i've seen some some criticism here and there's like why are you going to come well
you know it's not about count obviously you, you know, last year, you will
remember, um, ECC was in Brussels and I'm Belgian myself and it was terrible.
It was raining, it was cold and it was like, okay, nobody complained that we
were at ECC last year, but because it's in Cannes, somehow the flashlights go
up and people say like, oh, why Cannes?
So we are, we are going there because there's lots of Web2 developers
there.
We are doing a specific session around onboarding
and integrations and stuff like that.
And so it's going to be a very interesting session for us
to kind of attract Web2 developers.
We can't stay in our bubble.
We have to be where those developers are.
So that is the third element.
The fourth element is around um open sourcing as you know
the health of an ecosystem um and whether we like it or not but the health of an ecosystem in crypto
is pretty much determined by the number of monthly open source developers that an ecosystem has as it is managed by electric capital and so um
we have to make sure and so therefore it's important for us to kind of promote this open
source culture because it's only when it's only open source contributions that are actually being
counted and you could say it's not fair and it's like we have a bunch of developers obviously they
are not open source developers we have a bunch of developers, obviously, they're not open source developers.
We have a lot of like SaaS companies that develop enterprise software that are not going to open source their software.
And that's great.
Like we don't want to force these people to go, of course, open source their software.
But I think it's important that we have this culture of open source and that we contribute all of our repositories to Electrocapital so that we are counted.
Because that number is being watched
across the industry and whether we like it or not it's a measure of success of an ecosystem
that these numbers are that people are seeing growth in your in your open source developer
account and so we've been we will continue to heavily focus on that we will continue to encourage
people to submit repos to electric capital and make sure that the work that they're doing in open source coding is being recognized. We're also going to make sure that the results
of these hackathons are all posted on GitHub and reported to Electric Capital. And so I encourage
everyone to make sure that if you're a developer oh you're thinking about open sourcing it please please please make sure that you contribute um your um repos to to electric capital and
i i do expect electric capital is coming out with a new report at the end of the month and i do
expect an increase and the increase is going to come from all the initiatives that we've done with
the hacker house that our dev rel team organized that was a big success at the end of that we've done with the Hacker House that our DevRel team organized, that was a big success at the end of March. We've also seen quite a bit of contributions from India,
where there's been a lot of developer activities over the last month. And so those have all been
contributed to ElectroCapital. So I would expect and hope to see an increase in developer count
starting at the end of this month. And then the last point I was going to make on developer marketing.
I think it's great that we can attract developers,
that we can give them all the educational content,
but we also have to make sure that there's sufficient hand-holding for them
to allow them and to support them as they kind of build out their ideas,
as they kind of start their businesses and potentially grow their businesses.
And so we are working hard on basically a builder funnel that's aligned to a
developer funnel that basically helps builders provides them better incentives create the proper
feeder mechanism accelerator programs incubators and potentially leading to VCs to VC investments
so we're figuring out that entire funnel to make sure that we can kind of handhold those
developers to the entire process, not just the technical aspect, but also the business
aspect of starting a business.
So that's where we are.
So I want to give you a broader picture.
So when you see in the Algo Insights report, we're in each then we're in each CC, we're
in Python, we're in JavaScript. Why we're in python we're in javascript
why are we there how does this fit into the broader picture hopefully that hopefully that explains
things a little bit better so that's on the developer side um last point i was going to make
i want to give you an update on exegov and i know this is top of mind because we have just talked
about like helping developers build businesses like how does does ex-Gov fit into this picture?
So ex-Gov, let me give you an update on where you stand there.
I know this has been a sore point.
And I know, and as I mentioned on Twitter, this has been, you know, top of mind for everyone at the foundation to get this new ex-Gov program out there.
So where are we?
So we closed the applications for council members.
So we've received a total of 24 applications.
We are now in the process of going through KYC for each one of these applications.
And so we should have a final list of candidates then towards the end of this week, early next week.
We are going to kick off GPp15 the next kind of governance period
to basically select those um council members from this list of applications and so we plan on running
gp15 in the first two weeks of july so by mid-july we should be done we should be done with that and we should have
our list of council members in parallel of course there's a big effort to get the new xgov platform out there and so the new x-graph platform is scheduled to go to testnet next week and we
expect it to be on mainnet in the first half of july so we are um uh very much hoping that by mid july we are done with this
process and we can actually start accepting uh grant proposals and start processing these grant
proposals and getting voting going on these grant proposals so that's where we are um um so that's
it for ex-goth so um let's open it up for questions and let's see what what people want to
talk about let's see do we nobody any questions requested here rested okay Leo okay Leo go ahead.
Yeah, Leo, go ahead. You're mute.
How are you?
Hey.
Oh, good morning. How are you? Hey, hi, Leo.
Hi, Leo.
Hello, hello.
Hello, hello.
I wanted to ask, you mentioned there were going to be efforts
in kind of bridging the gap for new developers
to using Algorand and our existing toolkits.
So there's a follow-up question to this.
But I think it's really important that that's focused on because I saw a lot of vibe coding going on for some startup projects. tried to create a casino using AI only with no knowledge of programming.
And their platform was immediately exploited by a white hat hacker who was nice enough to give back the keys.
But I like the idea of similar concepts with Algolearn like they get a fundamental understanding of the programming
language before they actually get into using avm i think that's like there's a lot of people
on algorand who are not currently developers who would like to build things i think that's a helpful
uh angle uh to get in too
angle uh to get in too
yeah i i i agree with you and i think i've been like vibe coding over the weekend myself i
created like this expense split app and i'm trying to figure out how to create a smart contract for
it and so um i agree with you that that that the vibe coding is is just kind of phenomenal you can
see like i was playing around with bolt.new and it's just it's mind-blowing what this thing can do but of course it doesn't you know create your smart
contracts and it's it's it's of course a lot more difficult and tricky to do that and so what we've
been trying to do with specifically with the the the bolt.new hackathon is to actually marry these
vibe coders to some of our more experienced algo developers and so uh I know
Brian and the dev rel team have been very very active in in these um communities um uh in in
in the bolts uh uh in the bolt discord channel to kind of like direct people back to the Algorand
discord channel and invite them over and we have on the Algorand Discord channel and invite them over. And we have on the Algorand Discord channel,
we have a specific, on the Algorand Discord server,
I should say, we have a specific channel
that's dedicated to the Bolt Hackathon
where people that really wanna do something on blockchain,
they can talk to some of our more experienced developers.
Maybe they can form a team, they can pair up
and they can do something together.
So that's what we hope to see.
And it's interesting because it's also,
it's interesting from the team building experience as well.
I really believe this is a great opportunity
because we also have a lot of like very senior
algorithm developers that may not be the best
at creating the most compelling Web 2 UIs, right?
And that's where like a lot of these bold people are.
They're like kind of more front-end developers. They developers. They're like focused very heavily focused on creating a great UI.
And this could be a good marriage, a good kind of team building between some of the newbies
that are coming from the Web2 world that know how to build cool apps. And then our very senior
kind of algorithm developers that know how to build smart contracts and and marrying the two together in the team i think could be could could lead to some interesting results yeah yeah um yeah like
the hot potato contract i think you found someone uh to build the ui for me because i'm horrible
at ui and he did a great job um and then uh i had question, last question. It's a little bit sensitive.
I understand that there's a lot of things you guys can't reveal in terms of spending,
but I was wondering if there could be some amount of transparency, like maybe in note fields,
a generalization of what the transaction is for from a dedicated
foundation wallet for example we saw like 28 transactions into the fee sync for 13 million
algo 13 million algo which is like probably just an injection but but there are other transactions from ecosystem support to the structured selling wallets.
That's not clear why those funds are being repurposed when the wallet's designated for ecosystem support.
So just a note field, I think, would be great.
Just a generalization of why it's going somewhere.
Yeah.
Yeah, so I'll take this back to Harkel.
And I hear you on this.
I think it, I don't know if this is practical,
because I think the way this happens
is like a number of these, I don't think, you know, a particular transaction is, um,
tagged to a particular expense.
I think it's a lot of these things, uh, my view are, I don't know details of this, but are probably bundled together.
So it's hard to basically say, well, this is for this, this is for this, this is for this.
And so you also don't want to get into kind of like this microagement where you like every single expense has to kind of has to be transparent i
think that's i don't think that would be a wise kind of um operational um method but but i hear
you on this and and uh let me take it back to harper and see see if there's anything uh we can
do in that and let me actually touch on the topic of structured selling like you know let me go dive deep into this controversial topic um so um i see another
question here um uh in in the chat about please talk about structured selling plan um let me make
a comment on this um the the you know the the the strategy of course between structured selling is make sure is making
sure that that the foundation has uh the cash that it needs to kind of operate and so um there's some
metrics that is being used in terms of like how much is being sold when it's being sold like you
know when there's like significant price movement like selling automatically be suspended uh when the price moves below a certain price selling gets
suspended so there's a number of these kind of safeguards in place and so for a period of time
I think when the when the algo price was really low like the foundation stopped selling um any
algos for I think it's it was a few months don't don't pin me down on this but i think it was something like that um and and then at some point we started we started again and then as people
noticed there was um a significant increase in structured selling for a period in the q in q1 of
this year and since then it's gone back down to what was more but it's more the historical average
and so um uh as stacy at some point mentioned i think the
the the reason why there was an increased selling in q1 is because we had this potential um
discussion and opportunity with valgorand technology that actually didn't
end up not not happening um um so so why did we not stop structured selling well the reason is
that um we want to keep this as a strategic reserve um as i as devon mentioned there's a lot
of projects going on on the integration side and so um as you all know, in crypto integrations are not cheap. And so it's very often it's pay to play.
And fortunately that's the nature of the beast.
It is pay to play and these things are not cheap.
And so we decided that it's a good idea to keep this
as a strategic reserve for any kind of big integration
projects that might be coming up. We think integration projects are really, really critical.
Like we cannot be as Algorand, we cannot be living on an island, you know, and you guys know this too.
You've been kind of hammering the foundation on some of these big integration pain points.
We've been working diligently on them.
We can't always talk about them, as Devin said, because a lot of these things are kind of under NDAs and confidentiality agreements, so we can't even say that we're working on them.
And so, but we do hear you that, and we know, and we agree with you that Algorand cannot be living on an island, and that we have to have more of these integration points and bridges and what have you.
And we've been working diligently on them, and we want to make sure that we can execute on them when the opportunity
presents itself and so that is the reason why um uh we we are operating the way the way we do and
so from a structure selling perspective in the future like we as i said we are now back to what
a normal cadence is and so the normal we have no you no plans to kind of change that cadence in the future.
It will be roughly stay at where it was historically.
And as I said, we have a reserve pod that
allows us to do some of these big integrations
if the opportunities present themselves.
So that's a quick update on the structure of selling.
OK, thank you. Okay.
One more point, or is anyone else?
No, Simon's here.
I'll let Simon take over.
Thank you for letting me ask questions.
Okay.
So who else?
We got to see Bin Salimam.
OK, let's approve this.
Go ahead.
You are on.
You're still on mute.
OK. Can I speak?
Go ahead.
Yeah, go ahead.
Okay.
GM host, co-host and other speakers.
Real quick, actually I'm a contributor in Algorand blockchain.
So Algorand is, you know, technically advanced and innovative blockchain actually, but like
all other platforms or blockchains or project per se comes with a certain drawback. Algorand ecosystem has a great
take but what I discovered to my own end is that it has less visibility
compared to other trendier blockchains. I'm not saying it is not visible at all, but less because my hope is to be visible
than even Taiwan blockchains. So actually that's what I'm saying. Impact of this is slower adoption among retail users. I don't
know whether this is because of its less visibility to my own end. There is little bit like slower like um slow adoptions adoption among retail users and also um nft and also nft communities
and even hype among uh driving investors
yeah these are the like three key things i have. So my question here is, actually,
I have explored other blockchains before,
that was before, but actually, Algorand is what actually
is the blockchain that actually satisfy my need.
So my question here is, are there any measures you are trying to put in place in order to curtail this?
Yes. So thanks for the question.
So the answer is yes.
So when you think about this, to have a thriving ecosystem, of course, you have to have the developers.
of course you have to have the developers um the developers have to be uh supported right like the
like the grants programs you know xgov program like the incubators accelerators we talked about
all of that but at the end of the day the developers need users and of course users need
developers and it's kind of two sides of the same coin and so we realized that and so we think we have a big opportunity here because um
um we've been we've been talking i mean we always talk a lot about like the technology and how great
it is and to have instant finality and two second three second block times and what have you at the
end of the day um the technology itself you know will not will not um uh in and of itself attract users I think it's what you can do
with it and the benefit that it has and so as everybody on this call knows our DeFi experience
is kind of second to none in in in how smooth it is and how fast transactions get confirmed and uh
um especially compared to pretty much to any any blockchain um i think there's some of course some
liquidity challenges that we are working on but like from an from an experience perspective we
have uh the best defy experience out there and so um to your point i think we need to create more
awareness around this and get more people to try this and so we are going to um i was not going to mention this but
now now that he asked you know why not mention it so we are going to do create a phase two of our
kind of blockchain do that campaign and so you know we've launched this campaign at the end of
last year um campaign has been hugely successful and so we're going to create a phase two of this
and sorry and phase two will be specifically
specifically designed for retail phase one was not so much retail oriented it was much kind of
like broader awareness for algorithm as as a blockchain um phase two will be specifically
designed towards retail users and retail adoption and so we expect this campaign to kick off after
the summer like early september
and we'll run through the end of the year um and it will specifically be geared to get retail users
to try algorithm to come and try it out and and uh participate in our ecosystem and there's going
to be like weekly prizes and big prizes and small prizes and a lot of excitement with a lot of the
projects in our ecosystem to make this a super super cool
experience so so i can't wait to actually get this can to talk a little more more about this
and show you what we're going to do in more detail we're still work in progress but we are planning
we are planning something that's that's i think going to be very exciting and it's going to attract
a lot of people to our ground so yes i agree with you we need this and we're working on it very hard
yeah yeah yeah that's pretty cool uh that's actually much of my concern so that's pretty cool
okay we got you we got you okay thank you
okay any any other questions
okay any any other questions
we have a few minutes left ask away
nobody else
any final comments from our co-hosts here?
No comments from my side.
I'm just super excited about what's to come.
There's lots of amazing things coming to DeFi in the next couple weeks and months.
Not only MidasM2Build, but many other things that we're working on,
they're super excited about.
So stay tuned, AgroFam.
Great times are coming.
Wonderful, wonderful. Okay, so there's more there's more hold on requested there we go
approve governor hat go ahead You're on mute. No, nothing.
No one has any other questions? no nothing
no one has any other questions
okay well done one one last one last oh we have a speaker here
no no okay so um if there's no more questions so we'll um we'll we'll close the call here one more thing I want to mention and I mentioned this on uh on on Twitter I think last week or two weeks ago
we are working very hard on getting the roadmap out um there will be a roadmap uh we are going to
um announce it next month and somebody made fun and said, well, it's halfway
through the year and there's finally a roadmap for the year. Let me tell you, the roadmap will not
be only about 2025. It will look further in the future as well. And I think I'm very excited about
it. And so I can't wait to share more details about what we have planned and what we're working
on. And so that's going to happen sometime in July,
hopefully by mid-July.
And stay tuned for that.
We'll create a great X-Space around that as well.
So well, thanks everyone for joining.
And let me know what you think about this X-Space.
And if everybody agrees this is a good idea,
we'll do this on a monthly basis every single time we launch an Algo Insights Report.
Thanks for joining and have a great day. Thank you.
