Algorand Foundation’s “250 Million ALGO Reward Program” is officially released

The Algorand Foundation officially released the “250 million ALGO Token Reward Program”, which rewards those projects based on the Algorand blockchain for application development, thereby promoting platform infrastructure, end-user applications, and research and development. The reward program will be global and will run for many years. 250 million ALGO (approximately the current market value of 50 million US dollars) will be distributed to developers in the following four areas: innovative research, platform infrastructure developer tools, on-chain decentralized applications (DApps), and community development and education project. Potential applications include DeFi (decentralized finance), payment, asset transactions, social media integration, supply chain, copyright, and asset tokenization. At present, three projects have received partial rewards, namely Bloq, an infrastructure provider that supports multiple blockchains, PureStake AlgoSigner, an open-source browser wallet plugin, and Reach, a DApp development platform that lowers the development threshold.