The first component of the partnership involves a $50 million ALGO token purchase agreement to, in part, provide liquidity into the Algorand ecosystem.

An additional MOU has been signed with the aim of allocating funds to support projects that are building on the Algorand blockchain in the spaces of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure.

The Managing Partner of DWF Labs, Andrei Grachev, had the following to say about this collaboration:

“We selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand’s blockchain infrastructure provides the speed and instant finality required for creators, financial institutions and governments to smoothly transition to the new digital economy at scale, in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step in the maturation and growth of innovation in this space,” said Grachev.

About DWF Labs

DWF Labs is a global digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.

About the Algorand Foundation

The Algorand Foundation empowers a dynamic, inclusive, and borderless global ecosystem – at scale – based on the Algorand blockchain technology. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism achieves both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.

SOURCE:

https://chainwire.org/2023/06/26/dwf-labs-and-algorand-foundation-reach-strategic-partnership/

The post DWF Labs Partners with Algorand Foundation appeared first on Smart Liquidity Research.

Algorand Foundation is delighted to announce Vote Coin as its latest Grant Recipient.

To begin with, Vote Coin helps DAOs manage decision-making by providing a secure, auditable, and efficient on-chain voting system. The platform’s vision is to provide an easy on-chain decision-making solution.

Moreover, Vote Coin was an Encode Algorand hackathon winner and a participant in the Encode Algorand Accelerator program.

Hence, this latest grant recipient of the Algorand Foundation supports Vote Coin in further developing encrypted voting.

Furthermore, Vote Coin encrypted voting allows DAO members to vote in the voting session without information on how other members vote. Hence, the secrecy of the vote is essential in all democratic countries. When the vote is fully open, it may encourage other members who disagree with the decision for action, and the result may change.

With encrypted voting, the weight of the vote is the same time during the whole duration of the voting session. After the voting session and the encryption key are published, everybody can audit the results by decrypting all the votes from the Algorand blockchain.

Ludovit Scholtz, Vote Coin Founder

“Vote Coin is approaching a Series A funding round. Our plans are to provide the voting solution not only for DAOs, but also for governments, corporations, and personal use. Everyone who might need a secure, auditable, and fair decision-making solution should try it.”

Alan O’Connor, Grants Program Project Manager

“We are delighted to support Vote Coin through our grants program. Vote Coin is unique in this space, offering DAOs an encrypted decentralized voting standard that allows both quadratic and linear voting results computation. DAOs can take advantage by allowing votes to change after being cast. Organizations to manage their voting list on-chain and enable delegation of the voting power. We believe that using DAO governance and voting systems helps enhance efficiency and encourages more decentralization in community management.”

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem.

Website | Twitter 

About Vote Coin

Vote Coin helps DAOs manage decision-making by providing a secure, auditable, efficient, on-chain voting system.

Website | Twitter 

SOURCE

https://algorand.foundation/news/vote-coin

The post Algorand Foundation Latest Grant Recipient Vote Coin appeared first on Smart Liquidity Research.