Is the Algorand Foundation still planning to auction up to 600 million Algos per year moving forward as indicated on their website?
The Algorand Foundation website indicates the purpose of the auction would be to distribute Algos fairly:
"The Dutch Auction mechanism achieves this fairness for two main reasons. First, at every auction everyone who buys an Algo buys it at the same price. Second, the market determines that price."
An auction makes sense for an initial distribution, but now a "market value" has already been established via exchanges. I'd be curious if a looming auction of over half of the current supply (this year alone) is capable of creating fear and reducing demand and usage despite the strength of the underlying technology.
Please let me know if I'm missing something.