The Algorand Decentalized Community Governance Project will be launched in Q4

As stated in the "Referendum on the Algorand Decentalized Governance Plan", the updated version must achieve at least 90% network adoption for the referendum proposal to be approved. On July 7, this adoption level was reached (Network Rounds 14769258) and the Decentralized Governance Proposal was officially passed.

Thank you very much to all the node operators on the network who actively participated and quickly passed the proposal, fully expressing their enthusiasm and support for community governance.

The referendum means the first Algorand Community Governance period will begin on 1 October 2021. This is a unique and important step in the process of decentralizing the Algorand network and empowering the broad community of Algorand and Algo holders. As stated in the Detailed Governance Proposal, decision-making responsibility for the 3.2 billion Algo AERP (Algorand Ecological Resource Pool) will now be transferred to the global community of Algo holders. The governance award will be implemented on October 1 and will be available to Algo holders who pledge to support the Algorand ecology and vote.

For proof-of-stake blockchain networks like Algorand, the importance of community governance is self-evident. The realization of community governance in just over two years testifies to the rapid growth and maturity of Algorand ecology. Delegating the decision-making power of all 3.2 billion AERP to the Algo holder community marks a big step towards full decentralization of the Algorand network.

Over the next three months, the Algorand Foundation will work with the community to finalize preparations for the launch of community governance, including instructions on how to participate in the vote, the timing of the Algo commitment process, and how to receive awards. We will update every two to three weeks on the progress of the governance rollout to ensure that the community is fully informed.

In terms of consensus and network version upgrades, the network has a one-week buffer period before new code is executed. This means that on Friday, July 9, 2021, Consensus and the new version of the network feature upgrade will be available on network round 14909258.

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