Operating investor Relay & Participation nodes since network launch on 6/19.
Serving Algorand’s original investors and world’s largest ALGO holders.
Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law and clear crypto regulation.
Figment Prime and discounts available for > 50,000 ALGO tokens.
100% reward success.
The world’s most advanced physical IDC + multi-cloud staking infrastructure.
100% reward success.
You maintain custody and control of your ALGOs at all times.
Comprehensive reward reporting and tracking.
Protected via industry-leading Delegation Agreement.
Contact us for more information on setting up a Alogrand Participation or Relay node: email@example.com
Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.View Guide
Algorand is a permissionless blockchain that requires minimal computational power to join. All users who possess ALGOs, and are online, are automatically eligible to participate in block consensus.
Algorand is designed to ensure that users never have divergent views of confirmed transactions, even if some of the users are malicious and the network is temporarily partitioned. In contrast, existing cryptocurrencies allow for temporary forks and therefore require a long time, on the order of an hour, to confirm transactions with high confidence.
Algorand uses a new Byzantine Agreement (BA) protocol to reach consensus among users on the next set of transactions. To scale the consensus to many users, Algorand uses a novel mechanism based on Verifiable Random Functions (VRFs) that allows users to privately check whether they are selected to participate in the BA to agree on the next set of transactions, and to include a proof of their selection in their network messages.
Algorand achieves throughput of over 1,000 transactions per second and latency of less than 5 seconds.
Mainnet launched on June 20th 2019.
Anyone can currently spin up a Relay Node as the network is permissionless, but only those approved before mainnet launch will receive rewards for now.
Every address that has 1 ALGO or more earns rewards as soon as any block is added to the chain, whether you are online or offline. Users who are buying tokens are marked offline by default and can mark themselves online if they so choose by running a node and going online with their participation key.
Holding your tokens in any non-custodial wallet will ensure that you are earning your rewards. This could be Algorand’s mobile wallet, our named partners, or any other non-custodial wallet that supports Algorand.
There is no delegation process and Relay Nodes simply stake their own tokens as well as operate the infrastructure required.
The ALGO token.
There is no bonding or unbonding period since ALGOs kept in an Algorand address will automatically generate rewards.
The ALGO token, both from Relay Node Rewards pool and transaction fees.
The current reward rate is set at approximately 10% of total tokens staked. Every user is an equal member of the community and earns an amount of rewards proportional to their stake for every block that is committed to the chain. Rewards are earned by users who have correctly designated their status in the system as offline or online. This initial approach is designed to encourage broad participation in our ecosystem and reward all users in the Algorand Community. This type of reward will represent 1.75B tokens over the next 5 years.
In addition to the network participation rewards, The Algorand Foundation has given early supporters have agreed to run relay nodes the opportunity to earn Algos in exchange. Relay node runners earn tokens according to vesting schedules that range from 2 to 5 years. Any unvested amount will not participate in the consensus protocol. This type of reward will represent 2.5B tokens over the next 5 years.
The Algorand protocol calculates rewards at every block, but it might take several blocks until a Minimum Earning Unit (1 ALGO) accrues a full micro-Algo (10^-6) allowing rewards to be added to all eligible accounts. The distribution time is a function of the total staked ALGOs in the system. Assume that 20 algos are rewarded at every block, then it would take 500 blocks to accumulate 1 micro-Algo per earning unit. With blocks generated every 5 seconds, rewards are disbursed every 500 * 5 seconds = 41 minutes.
Tokens will then be automatically deposited in ALGO addresses and be freely circulating.
Only Relay Nodes can earn rewards at this time.
There is currently no slashing parameters available. Nodes are expected to act benevolently as they were pre-approved and they are free to leave the set at any time without penalties.