Dear Algonauts
To begin with, I would like to affirm our continued commitment to ensuring that /r/AlgorandOfficial continues to meet the high expectations set on it by the community. It is important that people feel that our rules are unambiguous and that our moderation-style is consistent and congruent with them.
Recently /u/Fantastic-Station-22 posted a thread titled Yieldly rewards have been astounding. #generationalwealth. In their post, /u/Fantastic-Station-22 writes about their experience using Yieldly, how much they are earning daily by staking their Algo in Yieldly alongside the participation rewards they are accumulating. They also include some calculations about future rewards, extrapolating off of current yields.
The post got reported at least twice, and two users commented on it saying that it breaks our subreddit rules.
Up until recently, the major financial decisions you could make in the Algorand world were pretty much the following: choosing whether to buy or sell Algos, and deciding on which wallet to store them in.
Regarding the former, our rules are clear: no price or trading discussion (Rule 4). Among different reasons, we do not want this subreddit to be swamped with threads on how the price went up or down based off of what so and so said about so and so, which caused a crash in Bitcoin which in turn led to a fall in the price of Algo (you get the point). We definitely do not want the subreddit to be an avenue for malicious crypto gurus to run their own pump and dump schemes, manipulating the price with hype and FUD (Rule 5). We also do not want people to make posts solely bragging about how much Algo they own and how much they have made (Rule 7).
Obviously, that is not to say we do not want to discuss any positive or negative news about Algorand. At the end of the day we are all holders of the coin. Users are, and have been, free to discuss their perceived merits and demerits of Algorand. But the focus should be on topics such as concrete aspects of the protocol, choices made by the Algorand Inc and Foundation, events happening in the ecosystem, and so on.
It's currently August and we are halfway through Q3. A number of projects that have been in the pipeline are coming out. As mentioned, Yieldly has been out and a number of people have been putting their Algo into it. Tinyman is currently trialing on the Algorand testnet, AlgoDex has reported great progress too. Folks.Finance will allow you to deposit your crypto as collateral for borrowing stablecoins, and their roadmap says they hope to launch Q1 next year. AlgoMint will allow for trading wrapped assets (e.g., Bitcoin) as tokens on Algorand, and their external audit is due sometime this month. The list continues...
A lot of these projects will come with their own governance tokens that will also be tradeable.
The point is, the Algorand DeFi space will see a lot of activity, a lot of projects that will compete for your attention and possibly your Algo. This is awesome.
In terms of how our rules apply, you should see them as extending to cover these projects as well.
We want the members of this subreddit to discuss and compare different dApps and what profit you can gain. Just like users have been free to ask if they should store their Algo in Coinbase (they keep 25% of your participation rewards), or the official mobile wallet (you get 100%), or to try out that "3% over 15 day APY" deal that Binance had (because they were speculating); people will be free to compare which liquidity pool they should store their Algo in, sharing relevant information and helping users interpret what different dApps state and claim.
Calculations and math are always welcome (e.g, this discussion on optimal compounding frequency). But they should be done with example figures. As part of Rule 7, we discourage using examples with your own balances.
Those governance tokens? Yes, Rules 4 and 5 apply there too. Do not create threads speculating on what e.g. the price of YLDL will be months from now. Do not create fake news, hype or FUD; or spread misinformation about a project, with or without a value-bearing tradeable token. And, like Rule 7 says, please do not publicly share your balance of tokens. Take it in the DMs. It is for your own good.
Note that our rules are not set in stone and are liable to be changed as the dynamics of the Algorand ecosystem and this subreddit change. Certain posts that are allowed today might no longer be allowed months from now, or vice-versa. We will keep you informed and we will always welcome feedback from the community.
Sincerely, the Mods
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