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Algorand Community Call March 2026
Recorded: March 25, 2026 Duration: 0:42:41Space Recording
Full Transcription
so Thank you. GM, GM, GM, Algo fam.
Good morning, good afternoon, good evening, everybody.
Thank you so much for being here today.
I truly appreciate you all joining live today,
Mark's Algorand Community Call. And of course, I already thank in advance all of you who cannot for being here today. I truly appreciate you all joining live today, March's Algorand Community Call.
And of course, I already thank in advance
all of you who cannot be here live today,
but are going to be watching this recording later.
So thank you all for your attention.
I am Fred Estante here from the Algorand Foundation,
and I know you're expecting Michael Jordan.
You know, he's the face of the community calls,
but unfortunately he couldn't be here today with you all.
So I'm stepping in, but worry you not, he will be back in next month's edition to help drive all of this. Okay. I'm very
excited about the call that we have lined up today. And don't worry, you're not going to be
seeing a lot of me. We have some incredible guests in the lineup to share some great news,
do deep dives, share stats, share a bunch of really cool stuff that I'm very
excited about. So once again, just thanks for being here. But hey, let's jump right in,
right? Let's jump into the fun stuff. So we do have an interesting agenda today. We're
going to start talking a little bit about Algorand in the news in the last few weeks,
some really interesting and important developments around Algorand. Then we're going to jump
in right on ecosystem, right?
We're going to give some ecosystem highlights from the last few weeks.
We're going to give a deep overview of the Web3 masterclasses and where we are.
Lots of really cool numbers to share with you all.
Then we're going to have a really nice update from Para.
And then, of course, we'll move towards the Q&A session as always.
So in order to get going with the very first section,
which is about AgroNews, I want to invite Mr. Mark V.,
our Chief Strategy and Marketing Officer.
Hey, Mark, how's it going?
Hey, Fred. Great to be here.
So, yes, last week was a very busy week.
And let's go through some of the big announcements
of last week.
And the first one, and of course, the biggest one of all,
was the announcement that we are unifying all ecosystem
operations under Algorand Foundation.
As everybody knows, we used to have a pretty complex structure
in terms of ecosystem management. On the one hand, you had the foundation, who is managing all of the
ecosystem kind of growth opportunities. On the other hand, you had Algorand Technologies, who
is basically managing protocol development. And that is a pretty complex structure because both companies,
of course, are completely separate. And we had to kind of coordinate closely to make sure that we
were all aligned around the direction that we're going, which if you're two separate companies is
always more challenging than if everything is combined into one. And this structure is a
structure that actually was quite common and is still quite
common in the crypto industry. Many, many protocols out there have a separate labs group from a
foundation group. And so it's always more complex. And so we're super, super excited that we came to
an agreement of Algorand Technologies to combine all of the ecosystem operations, including both
kind of ecosystem growth and support and protocol
development under one company Algon Foundation and this is kind of the cornerstone of like our
or the final step if you want in our move back to the US as you everybody knows we announced
in the beginning this year that we're moving back to the US we have a new board and now we're also
combining all of the operation of operations under one roof and so that makes us
really set up well for success in the u.s and and really able to kind of drive our strategy of
financial empowerment going forward so so that's the first big announcement that we made we made
last week a second announcement the next slide is we made some leadership updates.
And so I'm very glad that Bruno, Will and Brian are on the call, said they can introduce themselves to you.
But so there's three key promotions that we announced.
One is Bruno Martens is now officially our CTO.
And Bruno has been with the foundation for a while, was our chief architect, and twice before has been acting CTO.
So it's only normal that now he was promoted
to become our permanent CTO.
And Bruno and I have been partners in crime
on developing the roadmap last year.
And so I'm super, super excited to continue
to work with Bruno now in his official capacity
as a CTO. So Bruno, what do you have to say for yourself?
Thanks, Marc. Well, what can I say? I'm bad at talking about myself, but I guess the obvious
thing. My name is Bruno. I'm bald. I have my meme coin now so i'm right for a following trend with the ctos in the
foundation and yeah i'm excited to step up and try to make my mark i i have obviously ideas
that i'll need everybody's help with now with the protocol coming over um the synergy between ecosystem and protocol,
which is being more tightly connected between the two.
And I think AT has done a great job.
So I think we have very solid protocol that we can build that scale real
applications and we do have work to do in the ecosystem.
And I also have ideas there.
You guys, the ones who meet with me regularly
uh probably uh get an ear beating from me talking about interoperability and standards and
how web3 as a whole is very immature and there are things we can do to walk through the door
instead of trying to convince people to come into our bubble so i have some concrete plans to get
of trying to convince people to come into our bubble so i have some concrete plans to get
hopefully uh new blood in the ecosystem and to give you guys tools to refresh and build your
products and get things excited again i'll need everybody's help and yeah i'll try i'll try my
best if the door is open and uh yeah happy happy to be here and step up great great so second big promotion uh is will
will bonmont has been with the foundation for a while as well and was the head of para and is now
the um head of uh global um the global head of product and integrations. So, Will, what do you have to say for yourself?
Hey, everybody.
Thanks so much, Mark.
I'm super excited because I think in the foundation and on Algorand
and in the ecosystem, we have so much cool technology, right?
Like we've got a huge amount of great tech.
And so my aim is going to be trying to bundle all of that stuff
into a cohesive strategy that we can
deliver on as a product and integrate into the wider world and help Bruno bring more people
into our little bubble, as he says. So I think we have a tremendous amount of potential and I'm just
excited to try and harness and bundle all of that initiative. So I'm looking forward to it. Thanks.
bundle all of that initiative.
So I'm looking forward to it.
Thanks.
I love it.
Wonderful.
And then last but not least, we have Brian.
And everybody knows Brian.
Brian is very well known in our community.
Brian was our head of DevRel and now
has been promoted to be Senior Director of Integrations
and Developer Tooling.
Brian.
Thank you, Mark.
Go ahead.
I know that title is quite a mouthful.
I'm excited about the opportunity,
really energized to work on these two things together.
And let me just say as well
that the number of people reached out to me
on Discord, Slack, email, X, and so forth
that congratulate me, really appreciate that.
And it goes to show that how invested this community is
in what goes on in this chain and all the people who are rooting for its success.
In the past, the developer relations function is very technical, but also out there in the community and beyond and so forth.
And this renaming is not an abandonment of developer relations, but it is sort of an acknowledgement that we want to be really focused
on the integrations that Will mentioned and put resources to that,
get businesses onto the chain, do whatever that might entail
for some of these more complex enterprise integrations
and existing businesses that want to bring blockchain into what they're doing.
And then the other component of that is the developer tooling that supports those integrations in existing businesses that want to bring blockchain into what they're doing. And then the other component of that is the developer tooling that supports those integrations.
And thinking about those two things together to drive business integrations on-chain, I
think, creates a lot of affinity.
And for those outside the foundation, it may not be apparent, but we used to call this
the AlgoKit engineering team.
And AlgoKit is this collection of developer tools and libraries
and things that allow people to build stuff with Algorand.
But we're also thinking about this more broadly
because in the age of agentic engineering,
it dramatically reshapes how software development happens.
And so we want to meet developers where they are
and their LLMs and agentic workflows and so forth reshapes how software development happens. And so we want to meet developers where they are
and their LLMs and agentic workflows and so forth
and make sure that it's really easy for all developers
to build things on Algorand, but in particular,
the businesses are going to drive activity to the chain.
So that was a mouthful, just like my title,
but I'm really energized to be doing this
and working towards Algorand's ongoing success.
And I think Brian, like Claude, will be one of the top contributors to our ecosystem,
I think, going forward.
I'm sure.
Shows up everywhere.
Yes.
Great.
So thanks, Bruno, Will, and Brian.
Super excited that you guys got these new roles.
I think it's phenomenal. By the way,
to the community, if you guys have questions for Bruno or Will or Brian, just, you know,
add your questions to the chat window wherever you're kind of listening to this to this stream.
And we'll have some time at the end of this call to to handle to handle any questions from the
community. So make sure your questions are in so we can address them.
OK, so the last topic is the SEC confirms
that algo is a digital commodity.
So this was also announced last week.
And this is a really big deal.
And it's a really big deal basically for three reasons.
One is it provides
clarity. This is a big deal because now algo specifically you know has been called out as a
digital commodity that provides explicit regulatory certainty and it's coming directly from the primary
federal regulator so this is really really important. It's a big uncertainty is the worst of
all things and so the fact that there's clarity I think is really really important. Uncertainty is the worst of all things. And so the fact that there's clarity, I think,
is really, really important.
The second thing, from a governance perspective,
this is also very interesting, because that means,
as a commodity, we are going to be regulated by the CFTC
and not the SEC.
And the CFTC tends to be less burdensome
in its regulatory frameworks than the SEC is.
So this is a good thing. And so this is a good this is a good
thing and so this is the second thing that's important and the third thing is what does this
mean in terms of institutional adoption um the fact that we have commodity status we most likely
the biggest obstacle to institutional adoption and onboarding on the other end so that's another
really really important component here and so um this is something that we've been hoping for for many years.
And so finally, I think the day has arrived that we are properly regulated as a digital commodity.
So that's the third big news of last week.
So it was a news-packed week.
And so, Fred, let's go back to you and let's talk about the other updates.
Fantastic. Thank you so much, Mark. Truly appreciate you being here, Brian, Will, Bruno.
Truly appreciate it, guys. And I already see some questions coming up in the chat that
we're going to tackle in the last section of today's community call. Okay? So we'll
get there in a couple of minutes. But yeah, let's talk about ecosystem. And as I said
before, we're going to give some very brief ecosystem highlights from recent weeks,
and then we're going to jump in into the Web3 masterclasses and the ParaFun.
So let's go.
In the next slide, we can see some really cool updates.
Obviously, we started with our friends from GoPlausible, which are a building machine,
and every day there's something new out there coming from them.
But they recently released the full energetic support
for both Haystack and Alpha Arcade,
and I already see a lot of activity in our community
from indie developers, or not indie developers,
using those to integrate and go crazy.
It's amazing to see, really nice job.
Kudos to Steam.
The team also created a cloud AI plugin for Algorand,
which of course includes wallet management,
smart contracts,
the X operation, the whole shebang. Basically everything that you want to do, you can do with that plugin.
Really cool stuff. And last but certainly not least, they got GoPlausible and Algorand integrated,
included in the official Coinbase X402 ecosystem page. So that was just like awesome news, really excited to see all of this.
NF domains has also been on fire with a lot of different...
The team Transaction Lab NF domains have been on fire, building lots of really cool
products and updates in the last couple of weeks. They just released a couple of days ago,
Native DNS for the V3 algo domains, basically enable resolution without plugins or gateways.
So basically your NF NFT becomes a domain.
That's it. Simple and short, really cool and powerful stuff.
Cannot wait to see some of you all take your algo domains into the wild
and see what you build and draw attention to you and our brand, of course.
Really cool stuff.
And NF domains also worked on the DITs and they basically integrated
the official framework from W3C that basically now your NFTs are human-readable, standardized,
decentralized identifiers. So also really cool stuff. Really nice to see the team pushing
in that direction. Alpha Arcade, what can I say? Every time I open X, there's something
about Alpha Arcade there. There's something? Every time I open X, there's something about Alpha Arcade there.
There's something happening every single day, every single hour.
They just recently announced over $100,000 in USDC for LP rewards.
They have a crazy March Madness giveaway ongoing right now.
You should certainly check it out for all of you that partake in March Madness,
which is really fun stuff, although I suck at it, so I'm not doing it because I apparently pick everything wrong. But it's really fun. And one of the most interesting things is that a couple
of days ago, they just had like a $20 million day in volume, and they just reached a collective $120
million of volume in the platform since launch about a year ago. But it's certainly picking up
traction in steam in the last couple of days. So I'm very curious to see what this number is going to look like
in the April community call.
I'm certainly going to be watching as MJ gives the update next month.
But moving on in the next slide of ecosystem updates,
Haystack, which is also the team from Transaction Lab and Fdomains,
they just recently completed the launch week event
where they distributed over a hundred thousand
tokens to the community to various quests and activities.
It was really fun.
Diversify has integrated with Albridge for direct USDC bridging between Algorand and
13 different chains.
We have had swiped integrated Algorand that basically now allows merchants and citizens
from Kenya to accept payments in local currency,
and those payments are settled in USDC through Algorand.
Really cool stuff.
Ivory Pay launched two new USDC-based products, a merchant payment gateway for global transactions,
and a P2P app that enables card payments with stablecoins.
So also another really interesting product integration and launch on Outerun.
And obviously our friends of Lofty never stop.
They recently launched a new landing portal for the Fractionalized Real Estate platform
that allows users to land USDC or property tokens and then earn on those assets that
are put for collateral and for loans.
And obviously, you know, allows just for better liquidity and better order flow to the entire
platform for buyers and sellers of these tokenized houses.
So that's just a quick overview of some of the best, most interesting highlights over the last
couple of weeks. But there has been so much happening in our ecosystem every single day,
every single week, that it's kind of hard to put these slides
together. But I appreciate all of you building out there, whether you were mentioned in these
two slides or not. Our ecosystem is striving because of all of you, right? So it's just
really nice to see what you're all building and I cannot wait to see what we're going
to be featuring in next month's call. But moving on, I want to invite
Ms. Sarah Jane, our DevRel, to give us a walkthrough of the Web3 Masterclasses. Sarah, over to you.
Perfect. Thank you so much, Fred. I don't know how I can follow from that. That was pretty good,
pretty entertaining as well. But I'm super grateful to be on this community call with you.
To kick things off my side, I have a quick update be on this community call with you. To kick things
off my side, I have a quick update on the Web3 masterclasses. We're about three weeks into the
program so far, and the response has been really good. As you can see on the screen, we've had
over 1,100 registrations, and across the five sessions, we've averaged about 160 live attendees,
which has been awesome to see and to interact with the new Algram builders.
Feel free to let me know if any of you currently watching have done the Web3 masterclasses or been
to any previous ones. That would be pretty cool. On top of that, we've also recorded over 300 replays.
So for those of you who are maybe in a different time zone and it's very late or very early for you,
you can always watch the replays
straight after the lives are done.
One metric we always like to look at
is whether people actually start building as well.
And we're seeing that happen.
So we have over 80 forks on the GitHub template
so far for the RWA tokenization template.
We did a little bit of what you would call
vibe coding, prompt engineering
in the sessions last week and this week.
So it's going really well.
I'm excited to see what people are committing
to actually turn the template into their own product
that they're wanting to give to the world.
And in slide two, we have basically the foundations
of what is the Web3 masterclasses.
So they start by understanding the core concepts
of Web3 and blockchain, how these systems work,
where do they actually add value in real world applications
and also look at some trends.
So for example, we brought in some X402
and other ways to build on Algorand like Vibekit, for example.
From there, we also explore the Algorand ecosystem, looking at real startups and applications that are already built.
And the idea here is that builders don't have to start from scratch.
They can build on top of the foundation that the ecosystem like you guys have been developing over the past several years.
been developing over the past several years. Another important part is helping participants
validate their ideas, encourage people to think critically in whether blockchain is actually the
right fit for their problem. And finally, we introduced the concept of building with AI,
so showing how modern AI tools can help founders quickly prototype Web3 applications. Next slide,
please, Fred. Perfect. And so once those foundations are in place, the focus shifts much more to hands-on building.
So the participants create a working proof of concept on top of the template where they implement things like Web 2 and Web 3 login flows and start experimenting with tokenization using Algorand standard assets. From there, they begin developing the product further,
customizing their prototype and exploring concepts
like non-fungible tokens and digital ownership models,
for example.
We also cover deployment.
So showing how a Web3 application can be deployed
and run in a real environment using Bracell
so they can start looking at the analytics.
Who is visiting their site?
Are they getting testers?
Does their idea actually matter?
And so finally, we help builders think about communicating their idea.
So creating a clear narrative and preparing a simple pitch deck so they can present their
project and proof of concept live at the end of the program.
So last slide, please. Thank you. This is sort of like the bird's eye view. If we zoom out, the entire program has a really simple journey. It starts with learning, understanding the fundamentals of blockchain and the right solution. Next comes the building phase where participants create a work improvement concept
So last slide, please.
This is sort of like the bird's eye view.
using AI-assisted development tools.
And finally, we reach the showcase,
so where teams deploy their applications
and present their projects live.
So the goal of the program
is to really help people with ideas,
move from curiosity about Web3
to actually building something real
that they can present within four weeks on Algorand.
So we have one week left of that,
but that is all from the Web3 Masterclass's side.
Fantastic. Thank you so much.
There are lots going on in the Web3 Masterclass.
It's really awesome to see this numbers, the traction
and the hype around the new builders coming to our ecosystem.
Fantastic. All right. Moving on to the next slide. I want to invite to the stage our new head of
product marketing, Joseph Cicala, to give us an update on the Parafun. What's up
Joseph, how are you? Hey, thanks for having me. Really excited to talk about
this feature. So yes, so Parafun, we launched this last month. We're really excited about it. So
essentially, we want to try to find ways to increase the accessibility to liquidity on Algorand.
So our old on-ramp was a key area of friction. There was no way to convert other cryptos to
Algorand or USDC built into it. In addition to that, we're using a third-party wrapper. So the
UI UX wasn't as smooth and seamless as a native integration can be. In addition to that, we're using a third party wrapper. So the UI UX wasn't as smooth and seamless as a native integration can be.
In addition to that, we had a US geo restriction.
So what we did with Parafund was remove the friction.
So ExoSwap API integration allows people to move funds from other chains onto Algorand or USDC.
In addition to that, we added a custom front end where we added the meld API, which allows people to buy algo and USDC
using their fiat currencies wherever they are locally. And finally, US users can buy USDC
through Banksa. So now when they go to try to buy through our fund feature, they're not met with a
screen saying that your area is not supported anymore. It allows them to actually be able to
either use the cross chain swap or be able to purchase USDC directly.
And what's great about this feature is it's a complete foundation
to any other on-ramp providers that we want to add in the future.
We built it in a way that's completely scalable.
And as new integrations come online and have Algorand or USDC,
we can continue to add it to the stack
to increase the accessibility of liquidity on Algorand in Parawallet itself. So this is a quick demo of the new fund that we have. So when users come into it
for the first time, they're met with an intro screen and then they have a crypto selection.
So here they can select Bitcoin and any other fiat currency. So typically we'll have it local
to you. So if you're in the United States, it'll auto select USD for you. And then from there, you can select your output currency,
which is either Algorand or USDC. And then once you do your crypto, you'll have a QR code or wallet
address that you'll go to your other wallet and send it to. And from there, the funds will arrive
in your designated wallet that you specified in this transaction flow. Next slide, please.
designated wallet that you specified in this transaction flow. Next slide, please.
And then for the fiat flow, so you come in here, you'll select your fiat currency,
we'll go through MELD, and the funds will come in once you go through the KYC, and if it's ACH,
that flow, or if it's credit or debit card, that flow. In addition to that, we added a history
screen, so now you can view all your prior transactions on the ones that are currently
pending. So here you can see if you have completed transactions pending failed or any of them that
um you know are in progress and in addition to that you can get information on each status so
if it's failed there's a custom screen for that if it's complete there's a custom screen for that as
well so we have we have a bunch of supported coins. So we have 12 cryptocurrencies that you can bridge in.
So Bitcoin, Ethereum, Solana, AVAX, Arbitrum, SUI, Cardano, XRP, BNB, and HBAR.
In addition to that, we also allow for the bridge of USDC, USDT, and PAUUSD from select
networks.
So we have a lot of options there.
So if you're watching this video from the chain and want to try Algorand for the first time, check out, download Parap, and check out
Parafund. That'll be one of the easiest ways that you can fund your Parap well.
This is awesome, Joseph. Thank you so much, man. This is super exciting. And is there any way that
I can extract any alpha from you of what's coming in the future for Parafun or you're going to shut
me down here and maybe leave it for next month? Yeah, of course. So the next big thing coming
for Para is multi-signature wallets. We're really excited to launch this feature. This is a really
critical feature for redundancy aspect and in addition to that Algorand has native multi-sig
built in and the UX that multi-sig on Agaran delivers is
something that I believe can re-transform everybody's expectations of what a
multi-signature wallet experience should be and we're really focusing
heavily on providing a really clean user experience so that way all the friction
that users typically have with multi-signature in general is completely
alleviated and it's finally feels like something that was made for humans. This is amazing. All right, Joseph, you just became
my favorite here because every time I try to extract some alpha from my colleagues,
they never share alpha and you just did. So you're just like permanently invited for the future
editions of this, okay? So yeah, thanks. Appreciate it, man. Thanks. Alrighty, Algo fam, we are basically nearing
the end of the community call for this month. I think we covered a lot very quickly, but of course,
we're not going to wrap up today without what we promised the very beginning, which is a Q&A
session. And I do believe we already have some questions that came up during the event here.
So let me pull them up very quickly and start asking.
And I think I'm going to start with, I see five good questions,
but there is one that's clearly the best of them all,
which is from Oled Amigard asking,
question for Bruno, what kind of shampoo he uses?
I think that's critical for everybody now.
So Bruno, you want to take that on or?
No, just so everybody is clear, I used to have hair before and actually quite long. I used
to have long hair, but so I was mastering all the shampoos, never two in one. But these days,
you know, just life is easier. This way I recommend. So don't try to hang on to it. Just pull the plug and life gets easier.
Just accept it.
I think the community wants to see you post a picture on Twitter with long hair.
That's not going to happen.
I'll do it once I'll go reaches $1.
Sounds good.
But all right, so thanks, Bernard.
I appreciate it.
But on a more serious note, I think I have a question for Mark.
Mark, CodeSnipeNG asks, King Safety this month or not?
Anything that you can share with us on King Safety Project?
Yes, so King Safety, there's another question about revenues that somebody asked, which of course is related to King Safety as well.
So, I hope everybody will be on the same page.
The project King Safety is all about sustainability protocol.
How do we ensure the protocol is sustainable in the long run?
Because as you all all know staking rewards
which was introduced a year ago um are expiring normally at the uh in january of next year and so
we have to make sure that there is some form of sticking rewards that continues after that to
make sure the protocol is sustainable for the long run and so protecting safety is specifically um
long run and so protecting safety is specifically focused on that on that issue and trying to come
up with solutions to make sure the protocol is sustainable for the long run so we um so where
are we with that so um we established in the beginning of this year we established the ecosystem
advisory council as part of our move back to the US and the one of the roles of the ecosystem advisory council
is to basically review any project coming from the foundation that has to do with governance
or sustainability so before we can actually release our sustainability paper the King Safety
paper to the broader community we are committed to actually provide it to the Ecosystem Advisory Council first.
And this is part of the mandate of the Ecosystem Advisory
Council.
So we expect in the next couple of weeks
to deliver that paper to our Ecosystem Advisory Council.
They will need some time to review and give us feedback
on that.
And once we have that done, we will then
release it to the broader community.
So these are the steps that we're taking to make sure that we move forward in a measured
way, that we hear the input from the key voices in our community first.
We have a time to readjust and adjust the paper accordingly before we then make it public
to the entire community.
So those are the steps that we're taking.
Excellent. Thank you, Mark.
Truly appreciate all of this.
All right. Next question is for Bruno from Everyday Algonaut.
Ludo, Bruno, are you going to make the running of relays transparent?
I could not participate this year in the selection for the relays.
So for this year, given the current circumstances and everything, we had to be quite selective on the providers that we trust.
It was quite a critical decision also related to the amount of stake we have online, which is around 20% now, thanks to amazing vision and delivery of the consensus incentives.
And also with peer to peer, we have work to do that though.
So once we get, we need a little bit more as the things come on board, there'll be a
period of adaptation between us and handling the protocol.
There'll be a lot of work related to P2P to improve that.
So our reliance on relays should go down over time.
It'll be a bad sign if it goes up.
So for next year, maybe we'll do something different, but
there's nothing on the cards to reduce further than it is now.
But it's not something that we can be sure is going to be the same as the previous years moving forward.
It's like we can revisit the question closer to the time, but next year hopefully we'll have a more transparent process.
Excellent. Thank you, Bruno.
And there is a question here, sorry, I'm just trying to pull this up to screen that I believe it's either for you,
Bruno or Mark, whoever prefers to answer, which comes from Algo Flow.
All successful crypto projects have a figurehead.
Who is Algo and figurehead?
I want to answer this because I actually disagree somewhat about this statement.
I know it's the norm in a lot of crypto projects.
So we have almost like these religious figures that give the face and without them,
the ecosystem sort of seems like it struggles to flourish. But you have the example of Bitcoin,
for example, that today there's no figurehead and sort of got the market that it has and the hash rate that it has.
In Algorand in particular, I mean, the strongest historical fact of Algorand, its pedigree is very sound.
Not just from a blockchain perspective, but from a computer science distributed system perspective that for me should have more merit than having
somebody that is good on socials and is good at marketing the thing just by its presence
the reality is on pedigree and technical merits alone a lot of times it's not enough
we can knock on everybody's door and say we have all these innovations we're
better my blockchain is better than yours you should use us that's a very hard conversation
to have and a lot of times being first matters more of who the face is or how technically superior
you are and and that's kind of the challenge of every alternative network, including Algorand,
is to battle with the fact that we might not be first in a lot of sectors. Now, that doesn't mean
that, especially given the current situations, that there aren't opportunities because there's
a lot of chaos and there's a lot of sometimes bad sentiment,
but with that comes also opportunities that we need to carve our slice in there.
And it has to come from proving track record, from showcasing what it can do,
not just knocking people's doors and talking about the text.
Sometimes the text speech on its own does not get people in the door.
So through products and integrations and interoperability,
that's the way you get credibility over time.
It's not as easy of having some multi-billionaire behind
that can help us get ahead publicly.
But it's the harder road, but I think it's the best road we can take.
Powerful words. Thank you, Bruno. I appreciate you taking this.
All right, and I think we're going on to the last question for today
that I can see from the comments, which is for Mark.
Mark, this comes from JustinPA599.
Can you tell us about revenue and costs and profitability?
Okay, yes, so very good question.
So two parts to this, revenue and cost.
revenue and cost. Let me start with cost. And we didn't talk about that earlier today,
Let me start with cost.
but you've all seen that as a foundation, we are trying to be very, very cautious about
costs. And so as the crypto market is what it is, nobody really is fully in control over
what's happening there. And so we just have to be very very careful with with with
as a result of that you know we significantly reduced you know the Algram foundation budget
year over year and we unfortunately had to let 25 of our staff go last week and so this was a very
very tough decision because a lot of kind of good people left the foundation, but it was necessary because we have to make sure
that we are very, very cautious and careful
about the level of expenditures at the foundation.
And so that's the cost part.
On the revenue part, this goes back to the question
about King Safety, is how do we ensure
that the protocol is sustainable in the long run?
How do we ensure that staking rewards continue past January of next year? And how does this happen? And so it is and this is the topic mainly of
the King Safety paper and of course increasing revenues is going to be an
important component of that. It is very clear that our, for instance, to give you
the kind of a hint at what's going to be in that paper, it's very clear that our, for instance, to give you a hint at what's going to be in that paper,
it's very clear that the transaction costs on Algorand
are too low.
We have extremely low fees, but it's not just low compared
to the other chains.
It's orders of magnitude lower than some
of the major chains out there.
And so clearly, that is not sustainable in the long run.
And so part of that is going to be, you know,
how do we increase the fees at the protocol level?
And by how much can we increase the fees
without making sure that we lose
significant amount of transactions?
And that will increase revenues to the protocol
and will also make the rewards more sustainable.
So this is a big part of King Safety.
And so we can't
wait to share more details with you after it gets reviewed by the Ecosystem Advisory Council.
Excellent. Thank you, Mark. I appreciate it. And it looks like we have another question that's
going to be for Bruno. But before we do that, and I don't even know why I'm going to do,
like what I'm about to do, but I'm just going to show this on the screen just to boost Bruno's ego, I guess.
I don't know.
Somebody says, most handsome CTO ever.
The court likes beneath the head skin is worth billions.
Bruno, that's for you. You got a fan.
That's true.
Yeah, okay. I don't know why I did that.
But anyway, let's go to the actual question from Ludo.
Bruno, is there any development with the d-rag alliance
yeah so the direct alliance is one of our many working groups and i'm on at least five and it's what is the one that's moving forward uh at a better pace i would say so it went from conception
at a better pace i would say so it went from conception uh for us to or
lehman designing the initial version of the the protocol for d-rec from us just dreaming about
pocs to now i've seen pocs i've seen implementations uh I know it's working.
We're working very closely to get sort of an implementation that we can use.
And part of the strategy here is also not to put the burden on everybody on the ecosystem to understand how to implement these things. the all the mnemonic seed management is a burden in web3 and nobody has truly solved this in a way
to be to have a great ui ux experience and direct has a good chance of that and i truly believe in
on division and so the way we're going to try to to make this seamless and make it easy is like
we cannot put the burden on this for example uh on peter or or any specific product to
figure out a lot of things by themselves so we're coming up with the structure building things in a
white label fashion and in a pluggable way that people can take on direct modules implementations
that we can proliferate across the ecosystem that it uses.
There's probably going to be more comms about this,
but I would love to be or have something that will be one of the first adopters
to try this direct implementation
because I think it's one of the biggest issues
in Web3 in general.
It's also one of those things.
If we fail, it will be nice to fail
early because we know right away if we should focus somewhere else because there's multiple
ways of doing uh custody uh self custody in this case uh we could talk about actual custody another
time but for self custody if this doesn't work uh we want to know quick so we can focus on a thing i don't
think so i think this has a really good chance of working and it's in a decent state we will work on
having a white label implementation that we can all play around with and understand there are some
caveats to that because it requires some elements to be around in our networks to support.
It's called helpers.
But we can share a lot of these with other ecosystems as well.
And so, yeah, very soon we'll have something in a white label fashion for people to play around with.
They also hired people to help us and others to get these implementations out.
So it's moving along.
It's a high stage of development.
There will be updates very shortly.
Fantastic.
Thank you, Bruno.
I truly appreciate it.
And I think that's probably a good place for us to wrap up today.
I think we took a lot of great questions from the community.
I don't see anything new that just came up.
So I just want to start by thanking all my colleagues,
Mark, Joseph, Bruno, Will, Sarah, Brian, for being here today,
taking all these questions, sharing amazing news.
Thank you so much.
Appreciate it.
And of course, I want to thank the AlgoFan,
everybody that tuned in live or all of you are going to catch the recording
later.
Thanks for being so involved and engaged and cheering for us and helping us be better and grow every day.
So I truly appreciate everyone's time.
I hope everybody has a great morning, afternoon, evening, wherever they are.
And I'll see you next month.
But I'm going to be on the watching side, and MJ will be back hosting next month.
Thanks, everybody.
And team, I don't know if any of you have any parting words anything they want to say before
we close for today. Mark? Nope stay tuned for more news soon.
Alright cool I like that. Thanks team have a good one. Bye!
