Let’s talk ALGO Staking

I feel like I’m missing something glaringly obvious here so please if I’m just an idiot let me know.

Governance is obviously the place to go to get the maximum benefits from owning and holding ALGO. The issue I currently see is when you have put you ALGO into Governance, any additional ALGO only gets an annual Yield of 0.63% and can’t be added to your current Governance stake to get the additional bonus.

Let’s say you like me, continue to DCA into ALGO once a week, fortnight, month, whatever it is. Would this not be better staked elsewhere which is currently paying out a higher yield? You’ve got multiple different exchanges which payout at 4-6% such as Binance, Coinbase, Kraken etc etc

You have the option to stake in Yieldy on the Algo Prize Game for 6.6% APY with Yieldy as the reward and I’m sure other DeFi apps exist in the space offering similar yield rewards.

Are you leaving it in your ALGO Wallet? Staking it on an exchange? Staking it on Yieldy or somewhere else? Before the change which happened some time ago it made sense to just leave it all on the native wallet, now that doesn’t seem like the best option if you DCA more into ALGO.

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21 thoughts on “Let’s talk ALGO Staking”

  1. After I commit to governance, I keep whatever else I add in CoinBase to get the 4%. I’ll move that to my algo wallet for the next gov round. Rinse and repeat. May not be the best option but that’s what I’ve been doing.

  2. I’m sticking with governance.

    I like “lock up” periods to get the the as it stops me from selling when the markets fluctuate and emotion comes in, and its nice to have a say in a project I really believe in.

  3. I’m skipping Governance and putting it into the Algorand ecosystem… 9% is cute but I think other Algo projects, ASA’s, lending, defi, Yieldly will pay better. It is riskier but if we go into a bear market we’ll lose money anyway and if the market holds up then defi will definitely be a big win.

    If you can’t part with your Algo… You can lend your Algo on Algofi (keep it)… and borrow against it to purchase other assets and liquidity pairs that have a higher yield.

  4. The way they handled the Tinyman exploit (yes I said exploit and not hack) was exemplary of how to handle such a situation. They definitely went up a few notches in my book for that one.

  5. I’m using governance for the highest amount of my ALGO. With a smaller amount i participate on Yieldly earning some other coins. But if you trust and want to HODL ALGO the best you can do is participate in governance

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  8. There’s about 1000 ways to earn interest with Algo. The WORST way to do it is staking in the high apy pools on yieldly. The pools that pay you in shitcoin asa tokens aren’t worth it even if it’s 30,000% APY. Stick with governance or the yieldly pool that pays out Algo/YLDY.

  9. I’m full in on Yieldly liquidity pools and ASA’s. Definitely staking ALGO prize game and governance too but Last governance period was my first and I didn’t fully understand that I had to leave my staked ALGO in my ALGO wallet so I fucked up

  10. Governance is currently not the best place to get max rewards, but it’s the safest and easiest.

    Algorand launched the Aeneas DeFi fund to encourage DeFi adoption. There are opportunities to earn on top of the normal DeFi earnings.

    AlgoMint will award anyone for minting BTC and Eth into goBTC/goETH. The latest numbers show this to be about 282 Algo for each (minting more than the minimum doesn’t give you more rewards).

    Some liquidity pools are also offering additional rewards on top of the liquidity provided on Tinyman for both Algofi and Yieldly.

    AlgoFi will also be rewarding Algo based on the TVL on lend/borrow on their platform by the end of the month.

    I’ve already earned as much as I did in the last governance period by being involved in these DeFi incentives since January.


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