Participate in Algorand Governance via GARD Protocol
The benefits of participating in Algorand Governance via the GARD Protocol and how to...
Last updated
The benefits of participating in Algorand Governance via the GARD Protocol and how to...
Last updated
The GARD Protocol is the best way to participate in Algorand Governance. No matter the time in a governance cycle and no matter the reason, a user will be able to retrieve THEIR ALGOs. With other solutions, a user’s ALGOs will be lumped in with everyone else’s and they will have no way to get them until the end of the period. They’ll be forced to trade out of other assets they receive in return for their ALGOs. During this conversion process users of other liquid governance protocols may find themselves taking a steep mark down on their assets. This is particularly concerning given that with other platforms, a user won’t be able to cast their own votes in Algorand Governance or participate in Consensus.
To participate in governance via the GARD Protocol is quite simple. A user must first open a collateralized debt position (CDP) and borrow at least one GARD. For more information on opening a CDP please go to the "Borrow GARD" tab.
Next a user will be able to commit all the ALGOs locked in their CDP to governance as long as they try to during a normal governance enrollment period. Users can check the box when supplying ALGOs to their CDP that enables them to simultaneously commit their ALGOs to governance when they create their CDP. They may also wait for their CDP to be created and then go to the "ALGO Governance" tab to commit their CDP positions to governance directly.
To ensure that a user's CDP has been committed to governance a user may click on the "governor page" button to view their enrollment on the Algorand Foundation's website.
It's important to note that GARD's CDPs are totally in the custody by the user that opened them and that once a user has deposited their ALGOs in a CDP they still own them, control them, and must vote during the specified voting period with their ALGOs to remain eligible for governance rewards.
To vote in governance a user must go to the "ALGO Governance" tab and then vote on the appropriate measures.
