Introducing Algorand (ALGO) - The Blockchain for FutureFi
by Kamil S
The World’s Most Decentralized, Scalable & Secure Blockchain
From decentralized finance to generative NFT art (and everything in between), the sustainable Algorand blockchain is powering the economic models of the future. Algorand is unleashing scalability, fusing TradFi and DeFi, and accelerating global sustainability while building an interoperable ecosystem.
Week 6 of our 15 Weeks of Summer Campaign is bringing you “The Green Blockchain” – a platform that was built with a carbon negative focus from the very beginning. With its unique consensus mechanism, Algorand is far more energy-efficient than other blockchains, and is going further by offsetting its small carbon footprint in partnership with ClimateTrade – an institution helping companies achieve carbon neutrality by providing innovative emissions offsetting services.
Building an Interoperable Ecosystem
Since 2018, Algorand has been pushing forward a complete interoperable ecosystem that empowers and disrupts several fields:
- Dequency – The world’s first blockchain-powered synchronization licensing platform. In essence, a decentralized ecosystem where creators can discover each other and easily collaborate on audiovisual projects. Dequency abounds in quality content that can be licensed and monetized for use in the metaverse.
- STOI – An ecosystem for creators. A self-service MicroDAO (mDAO) creation platform with robust transaction support & membership tokens. STOI makes it possible for every creator to seamlessly create on-chain smart contracts, tokenize, engage and activate their community as well as reward their supporters.
- ANote Music – The main stage making music investments even more valuable to even more people. ANote Music is bridging the gap between music and finance, creating a global destination where people can invest and trade in musical culture. The platform is home to everyone who lives and breathes music allowing people to earn from it in a new way.
- Algofi – The DeFi hub of Algorand. Algofi uses the Algorand blockchain to host the smart contracts that power their decentralized protocol. The platform includes a decentralized lending market and stablecoin, as well as a decentralized exchange that was launched on 21 February 2022.
- Yieldly – The first and largest DeFi protocol on Algorand. Yieldly’s multi-audited smart contracts deliver liquidity mining, no-loss prize games, multi-asset staking, and cross-chain swapping – all in one place. Since Yieldly’s first generation product suite went live in June 2021, the platform has welcomed 3.5M+ transactions, 35k+ users, and $150m+ TVL (total value locked).
- Folks Finance – The leading algorithmic capital markets protocol for lending and borrowing built and operated on top of the Algorand blockchain. Through the lending operations, Folks users can deposit liquidity and start earning a continuous economic return instantly. Through the borrowing operation, users can request crypto loans by locking deposited funds as collateral.
- Abris.io – Enables innovative creators around the world to showcase their NFT creativity as either part of an exclusive collection of unique and rare NFTs or having an Omni Store with their different types of NFTs, and empowers them to market their assets with no boundaries.
- AB2 Gallery – A decentralized marketplace for crypto art assets secured on the Algorand blockchain. A simple, permissionless, and secure NFT trading solution for artists and collectors in the Algorand Ecosystem, made possible using Layer-1 Smart Contracts. As the ecosystem continues to grow, the gallery will gradually implement new social features to further enrich the experience.
- ZestBloom – A next-generation digital media marketplace with a focus on improving discovery, artist support, and user experience. ZestBloom offers a suite of solutions giving artists more control and fewer constraints to worry about.
The complex Algorand ecosystem goes way beyond what can be showcased in this blog, with many more tools, resources and partners building up to a complete and agile blockchain space. Immerse yourself in the Algorand universe to discover how you can benefit from innovations in the payments system, wallets, and many more.
Carbon Negative – Value Positive
Throughout our 15 Weeks of Summer Campaign, we have and will continue to list projects and partners that not only disrupt the blockchain space, but do so in a sustainable way. With respect to that, Algorand leads the way with a unique PoS consensus mechanism. The energy-efficient ledger manages to offset its small carbon footprint in partnership with ClimateTrade.
Algorand pledges to be the greenest blockchain with a carbon-negative network now and in the future. There is no need for mining on Algorand, unlike on other PoW blockchains, essentially allowing for carbon neutrality. Going forward, this will prove vital for the rapid expansion of the NFT sector that will flood the mainstream and transform entire industries.
The People Behind Algorand
In 2017, Silvio Micali founded Algorand, a fully decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy. From the very beginning, the purpose was to build a world where everyone creates and exchanges value efficiently, transparently, and securely.
The team Silvio has built consists of internationally recognized researchers, mathematicians, cryptographers, and economists along with proven business leaders from global technology companies. Silvio himself has studied at MIT and has specialized in cryptography, zero-knowledge, pseudorandom generation, secure protocols and blockchain.
ALGO Token – An Ecosystem of Value
As you might already know by now, what we list on Coinmetro exchange are not just tokens, but assets that fuel whole ecosystems of value. So is the case with Algorand and the native token of the platform. ALGO is a leading cryptocurrency because of its importance to the Algorand blockchain. It’s the token used to secure the consensus used in building each block, it’s the token used to pay for every transaction and soon, it will be the token used to govern the growth of the Algorand ecosystem and as governance rewards for those who commit to voting as part of governing. This unique nature enables ALGO to be the key pillar of the Algorand blockchain but to also be the most efficient, secure way to buy something as simple as coffee.
ALGO token has all the key features of the Algorand blockchain itself:
- It’s super-fast: every transaction with ALGO is complete in ~4 seconds.
- It’s scalable: whether you are the first transaction or the 10 millionth transaction in a day, your ALGO transaction will still take place in ~4 seconds.
- It’s secure: Algorand and ALGO transactions are secured by the unique Pure Proof-of-Stake consensus that powers the Algorand blockchain.
- It’s almost free to use: unlike many blockchains, where every transaction is hugely expensive, every ALGO transaction today, no matter the size, costs a fraction of a penny.
ALGO circulating supply is 6,901,548,055 tokens. Total max supply is 10 billion tokens and the liquid ALGO supply is 7,295,387,002 – including tokens held directly by the Algorand Foundation.
THT on MARs
Furthermore, in addition to this new listing, we are taking the opportunity to share more exciting news. As you may already know, we launched our MARs Program earlier this year to great acclaim. By staking your XCM on our platform, MARs (Multi-Asset Rewards) gives you incremental rewards paid out in specific tokens included as part of the program.
KDA was the first asset added to MARs and later on we introduced FLUX.
We are excited to announce that we have now added THT to the MARs Program! In addition to KDA and FLUX, you will also receive THT rewards when you stake your XCM. The rewards are being paid with effect from 6 July, but will all be visible and back paid later next week.
We are carrying on with our effort to provide you with groundbreaking staking plans and financial services.
Join the discussion on the ever-growing Coinmetro community on Discord and Telegram to stay up to date with the latest crypto developments, learn and exchange ideas with like-minded people. To invest in ALGO and other essential tokens, take action now and sign up to our platform in just a few steps!
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