اقتصاد توکنی Algorand (ALGO)

The Algorand (ALGO) token economy is designed to support a decentralized, scalable, and secure blockchain through a structured approach to issuance, allocation, and governance. The native token, ALGO, serves multiple roles within the ecosystem, including paying transaction fees, participating in network consensus, and facilitating decentralized governance.

Issuance and Supply Mechanism

Algorand has a fixed maximum supply of 10,000,000,000 (10 billion) ALGO. The issuance mechanism is designed to distribute this supply over time through various incentive programs and vesting schedules.

• Transaction Fees: Every operation on the network, such as sending tokens or executing smart contracts, requires a fee. The minimum fee is set at 0.001 ALGO, though actual fees can vary based on network traffic and transaction size.
• Staking and Block Rewards: Following a consensus mechanism upgrade in late 2024, Algorand introduced real-time "block rewards" paid to validators who successfully propose blocks. This mechanism aims to be inclusive, avoiding punitive slashing and token lockups while maintaining low costs for node runners.

Allocation Mechanism

The initial allocation of the 10 billion ALGO supply was distributed among several key stakeholder groups and incentive pools:

Note: Some categories overlap in their source from the total supply pool. For instance, the ~1.75 billion ALGO (17.5% of max supply) currently dedicated to Community & Governance Rewards is a subset of the broader community allocation.

Usage and Incentive Mechanism

The ALGO token is central to the network's operation and growth, providing incentives for both security and participation.

Governance and xGov

The primary incentive mechanism for tokenholders is Decentralized Governance. Tokenholders can commit their ALGO for three-month cycles to become "governors."

• Requirements: Governors must maintain a balance above their committed amount for the entire period and vote on all proposed measures.
• Rewards: Rewards are sourced from the 1.75 billion ALGO pool. Past annual percentage yields (APYs) have ranged between 10.02% and 14.05%.
• xGov Program: A parallel program that allows community members to submit and vote on early-stage project proposals via GitHub, fostering deeper community engagement.

Historical Incentives

Previously, Algorand utilized "Participation Rewards," where additional ALGO was automatically credited to any wallet holding at least one ALGO. This was replaced by the Governance model in May 2022 to encourage more active participation.

Locking and Unlocking Mechanism

Algorand employs various locking and vesting schedules to manage the release of tokens into the circulating supply.

• Governance Commitment: While termed a "stake," committing ALGO to governance does not technically lock the assets in a smart contract. However, if a user's balance falls below the committed amount, they forfeit their rewards for that cycle.
• Ecosystem Support: Approximately 2.5 billion ALGO (12.5% of max supply) is locked and distributed over 10 years at a rate of roughly 10% per year.
• Relay Nodes and Contingent Incentives: These allocations follow specific vesting schedules (such as EIP-11252019AF) to reward early supporters and infrastructure providers over time.

Current Unlocking Schedule

As of February 2026, ALGO continues to experience daily unlocks that gradually increase the circulating supply. The current trend shows a consistent daily release of tokens.

This systematic release is part of the long-term plan to reach full circulation of the 10 billion ALGO supply by 2030.