10-14-2021, 01:21 AM
Algorand Foundation participating in the governance when they stated they would not.
<!-- SC_OFF --><div class="md"><p>First let me start by saying this is not intended to be FUD but I find it very concerning.</p> <p>Yesterday I made a post which showed an account committing 50 million Algo to the governance. Upon further research this account belongs to the Algorand Foundation. If you look at the algo block explorer, you will see the Algorand6 account deposited these Algos to the account and proceeded to commit them to governance.</p> <p><a href="https://algoexplorer.io/address/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E">https://algoexplorer.io/address/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E</a></p> <p>And here is the link to the governance page showing the 50 million committed.</p> <p><a href="https://governance.algorand.foundation/governance-period-1/governors/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E">https://governance.algorand.foundation/governance-period-1/governors/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E</a></p> <p>Here is the link to the Decentralizing Algorand Governance Proposal which explicitly states </p> <p>"The Foundation will set up the votes but will not participate in the Governors’ program."</p> <p><a href="https://prismic-io.s3.amazonaws.com/algorandfoundationv2/1f4bd113-3f64-4d3e-b69b-bcd988305359_ALG102-21Q2-C_Governance+Proposal_en-IE_FINAL.PDF">https://prismic-io.s3.amazonaws.com/algorandfoundationv2/1f4bd113-3f64-4d3e-b69b-bcd988305359_ALG102-21Q2-C_Governance+Proposal_en-IE_FINAL.PDF</a></p> <p>I'm sure I am not alone when I say we need a real explanation from the Algorand Foundation for the sake of transparency regarding this situation. Who does this 50 million Algo belong to and how/who did they acquire it from?</p> <p>I sent a transaction of 0.001 algo to this account yesterday with an attached message which links to my reddit post yesterday and will do the same for this post so it will be immortalized on the Algo blockchain.</p> <p>Edit: Some users have pointed out that this may be an Algorand Inc account which is different than the Algorand Foundation. Even if that is the case, I still believe this warrants a detailed explanation and transparency is required showing where these two supposedly separate entities are collaborating and for what ends.</p> <p>Edit 2: It appears that these are Algorand Inc accounts. I have also discovered that up to 20 of these accounts have been moving Algo to other addresses for what appears to be staking/governance purposes. I don't see any scenario in which the foundation didn't know Inc would be participating, yet they chose to withhold that information.</p> <p>Edit 3: If Algorand Inc commits most or all of their Algo for governace, I'm done with this project entirely. They will have broken my trust and the idea that this was marketed as decentralized governance will be proven to be a lie. The Foundation and Inc are going to do whatever they want and I want nothing to do with the illusion of choice. I can almost guarantee Inc and the foundation decide what we can even vote on to begin with.</p> <p>Edit 4: It now appears that all of the Algorand Inc accounts have begun moving algo to wallet addresses in order to commit to governance. Here are some of the addresses.</p> <p>GJ6GCRYD2Q6O5OOGA3A747JBPPEDTKF326ZEX2S6ZZVLK56Q2COECGVHM4</p> <p><a href="https://ibb.co/pvFQBFL">https://ibb.co/pvFQBFL</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CBScott7"> /u/CBScott7 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q70ril/algorand_foundation_participating_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q70ril/algorand_foundation_participating_in_the/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>First let me start by saying this is not intended to be FUD but I find it very concerning.</p> <p>Yesterday I made a post which showed an account committing 50 million Algo to the governance. Upon further research this account belongs to the Algorand Foundation. If you look at the algo block explorer, you will see the Algorand6 account deposited these Algos to the account and proceeded to commit them to governance.</p> <p><a href="https://algoexplorer.io/address/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E">https://algoexplorer.io/address/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E</a></p> <p>And here is the link to the governance page showing the 50 million committed.</p> <p><a href="https://governance.algorand.foundation/governance-period-1/governors/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E">https://governance.algorand.foundation/governance-period-1/governors/OVAA75Q4VPN7JLKD6GEKBRV6WEEZSQTN5H6RVR2XM4JMR3WXSABY4VAT6E</a></p> <p>Here is the link to the Decentralizing Algorand Governance Proposal which explicitly states </p> <p>"The Foundation will set up the votes but will not participate in the Governors’ program."</p> <p><a href="https://prismic-io.s3.amazonaws.com/algorandfoundationv2/1f4bd113-3f64-4d3e-b69b-bcd988305359_ALG102-21Q2-C_Governance+Proposal_en-IE_FINAL.PDF">https://prismic-io.s3.amazonaws.com/algorandfoundationv2/1f4bd113-3f64-4d3e-b69b-bcd988305359_ALG102-21Q2-C_Governance+Proposal_en-IE_FINAL.PDF</a></p> <p>I'm sure I am not alone when I say we need a real explanation from the Algorand Foundation for the sake of transparency regarding this situation. Who does this 50 million Algo belong to and how/who did they acquire it from?</p> <p>I sent a transaction of 0.001 algo to this account yesterday with an attached message which links to my reddit post yesterday and will do the same for this post so it will be immortalized on the Algo blockchain.</p> <p>Edit: Some users have pointed out that this may be an Algorand Inc account which is different than the Algorand Foundation. Even if that is the case, I still believe this warrants a detailed explanation and transparency is required showing where these two supposedly separate entities are collaborating and for what ends.</p> <p>Edit 2: It appears that these are Algorand Inc accounts. I have also discovered that up to 20 of these accounts have been moving Algo to other addresses for what appears to be staking/governance purposes. I don't see any scenario in which the foundation didn't know Inc would be participating, yet they chose to withhold that information.</p> <p>Edit 3: If Algorand Inc commits most or all of their Algo for governace, I'm done with this project entirely. They will have broken my trust and the idea that this was marketed as decentralized governance will be proven to be a lie. The Foundation and Inc are going to do whatever they want and I want nothing to do with the illusion of choice. I can almost guarantee Inc and the foundation decide what we can even vote on to begin with.</p> <p>Edit 4: It now appears that all of the Algorand Inc accounts have begun moving algo to wallet addresses in order to commit to governance. Here are some of the addresses.</p> <p>GJ6GCRYD2Q6O5OOGA3A747JBPPEDTKF326ZEX2S6ZZVLK56Q2COECGVHM4</p> <p><a href="https://ibb.co/pvFQBFL">https://ibb.co/pvFQBFL</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CBScott7"> /u/CBScott7 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q70ril/algorand_foundation_participating_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q70ril/algorand_foundation_participating_in_the/">[comments]</a></span>Kind Regards R