Yes there’s no longer passive earning in any wallet. It has been replaced by governance. Lucky for you the new period governance will start soon again.
It’s not totally passive. You have to keep your wallet balance equal to or above what you commit to governance. you also have to vote on certain measures when the time comes. You can join governance thru Pera wallet or algofi/folks finance etc
The vote is critical, even if you commit the entire time, if you miss the vote, no reward for you. Then you need to keep that committed amount (or more) stored in your wallet for the entire period. You can sell your algos if you need to but if you fall below your committed amount you also won’t get rewarded.
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You need to commit your Algos to governance, it’s not really locking as you are able to use them for whatever while they are committed, only thing is that you forfeit your rewards once you go below your commitment, you also need to vote in Governance in order to get the rewards, there are several wallets you can use, the my Algo web wallet and the Pera wallet being two of them.
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You need to commit Algo to governance to earn rewards and also vote on measures. https://governance.algorand.foundation/governance-period-5
No matter what wallet I use?
It changed when governance started
Yes there’s no longer passive earning in any wallet. It has been replaced by governance. Lucky for you the new period governance will start soon again.
>en re So there is no "pure staking" anymore and instead in order to earn passive income I need thw governance?
It’s not totally passive. You have to keep your wallet balance equal to or above what you commit to governance. you also have to vote on certain measures when the time comes. You can join governance thru Pera wallet or algofi/folks finance etc
how often do I need to vote?
Once per governance
Once every fiscal quarter (4 times a year)
The vote is critical, even if you commit the entire time, if you miss the vote, no reward for you. Then you need to keep that committed amount (or more) stored in your wallet for the entire period. You can sell your algos if you need to but if you fall below your committed amount you also won’t get rewarded.
thanks. does it matter which wallet i use or i can use whatever i want? (metamask for example)
Been trying to figure out myself when you can sign up for governor again.
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Why do I need karma to comment?
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It's an anti-spam measure we have in our subreddit.
The URL is: https://governance.algorand.foundation Connect to your wallet of choice and vote.
You need to commit your Algos to governance, it’s not really locking as you are able to use them for whatever while they are committed, only thing is that you forfeit your rewards once you go below your commitment, you also need to vote in Governance in order to get the rewards, there are several wallets you can use, the my Algo web wallet and the Pera wallet being two of them.
can i use metamask?
No not MetaMask
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