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How to earn Algorand governance rewards

A guide on how you can participate in Algorand governance and earn rewards.

Although Coinbase no longer supports Algorand governance rewards as part of Coinbase Earn, we strongly support decentralization and the broader cryptoeconomy. This guide explains how you can continue to participate in Algorand governance even after the Coinbase program has ended.

Step 1. Transfer your ALGO to a self-custodial wallet that supports an Algorand address

  1. Download a wallet app that supports an Algorand address (e.g. Pera Wallet).

  2. Set up your wallet. During wallet setup, be sure to write down your recovery passphrase. It’s presented as a random phrase. If you lose or forget this phrase, you won’t be able to access your crypto. Be sure to keep it in a secure location.

  3. Transfer your ALGO to your wallet. To do so, open the Coinbase app and then tap the Send button on the top of the screen. Then, select the ALGO asset. In the “To” field, paste in the ALGO wallet address of your new self-custodial wallet. Enter the amount you want to transfer from your Coinbase account, then tap Preview. Ensure that you are sending the correct amount to the correct address. Review the transaction details, including any fees, and tap “Send now”.

Step 2. Connect your wallet to the Algorand governance system dashboard

  1. Using your wallet’s browser or a browser on your personal computer, navigate to the Algorand governance system dashboard at https://governance.algorand.foundation/.

  2. Connect your wallet by clicking “Connect Wallet” in the top right corner, then select your self-custodial wallet app and scan the QR code on the screen. Select the account you’d like to use.

Step 3: Commit your Algo

  1. At the top of the screen, choose a Governance Period to participate in. When the sign-up period has started, you’ll be able to commit your ALGO. 

  2. Click the “Commit Algos” button. In the modal, type in the number of Algos and/or eligible LP tokens you’d like to commit. Note: committing your entire ALGO balance is not recommended because you will need some ALGO in your wallet to pay future transaction fees. 

  3. Click “Commit Algos”. From there, you will need to sign the transaction on your wallet. 

  4. After committing your ALGO, return to the Governor’s page to verify your eligibility. You can do this by clicking “Show All” at the top of the page and pasting your wallet address in the search box. If you don’t see your address, we recommend starting Step 3 again.

Step 4: Voting in a session

Throughout the governance period, there will be one or more voting sessions in which you must participate if you want to earn rewards. Failure to participate in all voting sessions will remove your eligibility for rewards. The periods start at each calendar quarter (January, April, July, and September), and the voting session(s) happen halfway through each period. 

  1. Connect your wallet on the Algorand governance website: https://governance.algorand.foundation/

  2. Choose an option for each voting measure listed as "Open to Vote". When you are finished, submit your votes at the bottom of the page. You will need to sign the voting transactions on your wallet. 

Step 5: Maintain commitment and earn rewards

There are a few key things to note about earning rewards through governance: 

  1. You can only earn rewards if you maintain the amount of ALGO you’ve committed throughout the entire period. This means you should not sell or send that ALGO while it’s earning rewards. 

  2. You’ll earn rewards within one week of the governance period ending. 

  3. You'll need to recommit your ALGO in each governance period to earn rewards. 

That’s it! You’re now ready to participate in Algorand Governance and earn governance rewards.