As part of an ongoing effort to bring transparency and clarity to the Algorand project, we are publishing the first of what will become regular transparency reports on our Algorand holdings and activities.
Entities and financial relationships:
Pillars’s investment in Algorand Inc. comes through two entities that invest in parallel. Our Agreements with the Algorand Foundation are also through these two entities.
Pillar has signed node agreements which we believe are identical to those of the other early backers. Our tokens vest over a period of two years, assuming our nodes are run in good standing. We run a total of 8 nodes.
We have three wallets. Two receive our vested and participation tokens for each of the entities above. The third is for our participation in the staking program. Beyond the movement of Algos to participate in the program, no Algos have left our wallets.
To date, Pillar has not sold any Algos and will generally be holding its Algos through at least July 2020, subject only to limited sales we are currently considering for the purposes of covering tax liabilities created by the issuance of our participation rewards. This would be a low single digit % of our total holdings, if it happens at all.
Pillar is an equity owner of Algorand, Inc. Pillar has no financial or business relationship with any other Early Backer.