توكنوميكس Algorand (ALGO)

1. Issuance Mechanism

• Maximum Supply: Algorand's token, ALGO, has a capped supply of 10 billion tokens.
• Distribution Approach: The initial supply was minted at Genesis, with major portions allocated to the Algorand Foundation, Algorand, Inc., and various incentive and ecosystem funds.
• Issuance for Rewards: New tokens are not minted via on-chain inflation; instead, rewards and grants are distributed from pre-existing allocations, especially focused on governance and incentive programs.

2. Allocation Mechanism

Initial and Current Allocations:

*Some categories overlap in early documents; allocation values have changed over time.
**Participation Rewards are specifically allocated to governance.

Top 10 addresses collectively hold ~21.5% of the max supply (as of July 2023), with large addresses managed by Binance and Algorand Foundation entities.

3. Usage and Incentive Mechanisms

Network Utility

• Transaction Fees: ALGO is required for all transactions (minimum fee: 0.001 ALGO).
• Staking/Governance: ALGO enables participation in Pure Proof-of-Stake consensus and protocol governance.
• Governance Rewards: Users register as “governors,” committing ALGO for three months, vote on proposals, and receive proportional rewards (historically 10–14% APY). Rewards are drawn from the allocated Community & Governance pool.

Incentive Models

• Rewards are not inflationary; all incentives come from reserved allocations.
• Participation does not require slashing—no risk of losing principal for misbehavior.

4. Locking and Vesting Mechanism

Governance Commitment

• “Locked” stake for governance means ALGO is committed but not technically unspendable, so users maintain liquidity if they don’t wish to claim rewards.

Unlock/Vesting Schedules

• Community/Governance rewards: Vest over ~10 years since 2020.
• Relay Nodes, Contingent Incentives: Vesting schedules specified in project docs and EIPs (not all released at once).

Recent and Historical Unlock Data

• Typical daily unlock for rewards remains steady, reflecting a measured release schedule.

Unlocking Patterns

• Typical Governance Unlock: Every three months, at the end of each governance cycle, rewards are distributed and token unlocks are processed as scheduled.
• Ecosystem Funds: Unlocked linearly over time.

5. Summary Table: Allocation, Locking, Unlock

Notes:

• Some allocations overlap in early documentation; numbers may reflect redistribution/updates.
• Exact current allocation status may be queried on Algorand block explorers.

Conclusion

Algorand’s token economics are defined by a hard-capped supply, non-inflationary reward distribution sourced from reserved allocations, multi-year vesting schedules, and robust governance incentives managed through a transparent, cycling structure. There is no slashing risk, and governance participation is widely accessible. Unlocks proceed steadily, ensuring long-term sustainability and community alignment.

For detailed/specific unlocks or address-level breakdown, see Algorand’s official block explorers and governance dashboards.