Thank you for your patience and continued support. The last several months have been a challenging time for the entire Algorand community and that includes the GARD team. We have been less communicative recently as we have been constructing a clear plan to move forward in the wake of current headwinds. In spite of everything, we are still well-capitalized to continue building/supporting the GARD Protocol. In an effort to be as transparent as possible, we wish to provide some updates and clear up potential confusion that the community may have.
Measure 2 Targeted DeFi Rewards
The GARD Protocol and other eligible Algorand projects are in the final stages of executing legal documents with the Algorand Foundation to enable the distribution of targeted DeFi rewards as a result of Measure 2 from Algorand Governance Period #6. Once received, GARD Protocol will be deploying these awarded ALGOs to Pact and Humble as intended in accordance with our incentives program for Period #7. As for ALGOs slated to reward GARD stakers, once these targeted DeFi rewards are received we will proceed with using a portion of these ALGOs to purchase GARD in the market every week to boost our staking APR.
GARDIAN Statement / Period 6 Rewards
Although we have not sent out our GARDIAN rewards for Algorand Governance Period #6 yet, we have exciting plans for the GARDIAN token. We plan to release a new voucher token that we will communicate more info about soon. This new token will have half as much supply, however, will still be redeemable for the same amount of GAIN at a future date. Users will get the new token 1:1 with their previous airdrop earnings. We are releasing a new token after realizing a significant portion of the GARDIAN token was compromised as a result of the MyAlgo hack.
We have recently been undergoing a lot of internal changes at the GARD team which is business as usual for many early stage ventures such as ours. While we are still maintaining a close relationship with folks who are no longer working full-time with us, we believe it is important to let the community know that we are undergoing a transition period at this time which has impacted our ability to best serve the community. We are working diligently to rectify this situation.
We are well capitalized to keep building etc. and plan to support the protocol and our GARD community.
MyAlgo Hack / Recovery of Funds
We were recently informed by authorities that approximately 35% of our stolen funds that were compromised by the MyAlgo hack are recoverable which is great news. There is still an ongoing investigation in regard to the rest of the funds that the community has lost. We are hopeful that the hacker will be caught and that the community will help support some form of restitution for individual users (not institutional holders) that lost ALGOs in the hack.
Thank you for your continued support!
This is not to be interpreted as financial advice of any kind and we strongly encourage folks to do their own research. More information on GARD Protocol's disclaimer can be found here.