Try Quests to earn cryptoOn October 1st, 2021, Algorand moved to a decentralized Governance model.
Any Algo holder can sign up to serve as a Governor by committing Algos to the program for three months and participating in voting during this time. Governors are rewarded with Algo for their service. Community Governance yields to Governors the decision-making power over the Algorand Ecosystem Resource Pool (AERP), a pool of Algos that currently has more than 3 billion Algos.
source: https://algorand.foundation/news/2nd-governance-period
Since anyone can serve as a Governor and earn rewards, we can wonder if more new users onboard to Algorand right before the governance periods.
Algorand is wise is adopting incentives to ensure that governance is taken seriously. There does not appear to be a predictable rise in new users during governance commitment periods.
The first Governance Commitment was from September 20th, 2021, to October 14th 2021.
The second Governance Commitment was from December 24th, 2021, to January 7th 2022.
Candidates can sign up to become a Governor during these periods. The actual Governance period begins after the commitment period.
Daily new wallet creation does not appear to peak during the governance commitment periods.
This was certainly not the case during the first commitment period from Sept-20 to Oct-14, 2021.
We do see a large increase in daily new wallet creation around the second commitment period (Dec 24th, 2021, to Jan 7th 2022). However this exceptional rise in user growth does not coincide exactly with the commitment period. I am not able to conclude that one event is caused by the other.
Daily new wallet creation on Algorand is not on a exponential growth trajectory. This is concerning in a competitive environment of competing blockchains.
There was a large rise in daily new users in the first half of January 2022. I would like to know if there is a particular event that attracted all these users to Algorand.