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šŸ’„Algorand Forges Ahead with Ecosystem Developments as ALGO Price Retests Crucial SupportšŸ’„
December 30, 2022
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Crashing market prices have proved no setback for blockchain tech companies seeking to advance their brand in the face of a relentless bear cycle. Cardano, Polygon, and Algorand have stood out among blockchains conceiving forward-looking Web 3 initiatives – the latter in particular clocking up several deals in its best interest this year. Notable among them a strategic and technical arrangement with FIFA, the world football’s governing body, in May. The later-revised deal recognized Algorand as the regional supporter in North America and Europe and as the official blockchain platform of FIFA. In addition, the blockchain innovator also secured official sponsorship rights for the upcoming Women’s World Cup to be held between July and August 2023.

In a November update, Algorand revealed that it had dropped its sponsorship exploits as a Regional Supporter of the FIFA World Cup to dedicate solely to the technical aspect. In the subsequent months since, Algorand, through its research and building firmĀ Algorand Foundation has explored more progressive arrangements. Mid-November, the Foundation announced an integration with NFT data aggregator CryptoSlam to create more awareness about its permission-less payments-focused chain and increase visibility in the NFT niche.

Bank of Italy selects Algorand for the management of guarantees

Since its founding by Silvio Micali in 2017, Algorand has showcased unique merits that make it an appealing choice for payments on traditional and decentralized finance projects. The Bank of Italy recently announced its intention to leverage Algorand’s payment-focused chain in creating a digital guarantees platform. The move is expected to enhance efficiency and security in the issuance and management of guarantees within the Italian financial system. The bank’s Algorand-serviced platform is expected to roll out early next year. It is purported that a significant percentage of bank and insurance guarantees in Italy will use digital ledger technologies as part of the country’s post-COVID-19 National Recovery and Resilience Plan. Digital ledger technology checks the integrity and immutability boxes of stored and in-transit data, thus an attractive solution for addressing fraud.

CEO Sean Ford says Web3 must fulfill promises to regain credibility

Following the exit of former exec Steven Kokinos from Algorand in July, Sean Ford was elevated from COO to Interim CEO. It is only fair to say that Ford has been at the helm during some of the most challenging times in crypto this year, but he isn’t sitting back. Delivering his keynote speech at the recent Decipher 2022 annual event, the acting CEO remarked on the ongoing carnage, noting that the clearouts in the market over the last months, albeit painful, have provided an excellent opportunity to push ahead together as an industry.

He elaborated that sticking to promises is a catalyst for regaining credibility and trust. Ford added that Algorand has always been committed to consistently developing and delivering a scalable, highly secure, and reliable (zero downtime) platform that achieves fast finality. Regarding Algorand’s commitments and goals, the former COO toldĀ CryptoSlateĀ that the company is focused on executing obligations rather than making massive promises and failing to follow through. This, he noted, has primarily kept Algorand out among the frequents in engaging with venture capitalists and influencers. All the same, Ford assured it is time for Algorand to make an impact since vaporware projects and irresponsible behavior are now fading.

Blockchain applications to serve the world

He further clarified that Algorand only engages in a partnership if it has an exploitable technical component. He conveyed that the company has embraced the stark distinction between blockchain and crypto – the performance of ALGO is not the focus. Instead, Algorand is intent on creating impactful blockchain solutions that can drive significant societal and global change. Documented initiatives Algorand has pursued in the last few months include a collaboration with decentralized music-first ecosystem Napster andĀ the downgraded FIFA partnershipĀ to boot. The Layer 1 network hosts a collectible marketplace for FIFA, and Ford reckons that the relationship is evolving through technology to better engage with fans. Napster serves decentralization by enabling artists worldwide to generate income – specifically allowing artists to tokenize and fractionalize their music.

Community concludes GP5 Session 1 voting, welcomes GP 6

Algorand’s first session of voting in period 5 (GP 5)Ā beganĀ two days late, on Dec 5, owing to an update to the governance proposal submitted. It concluded on Dec 18, and by the end of the session, the network had a total of 3.8 billion ALGO committed, with 28.8k governors and 70.5 million ALGO distributed in rewards. The first of five measures sought to allocate up to 15 million ALGO to support the Algorand DeFi ecosystem through Q1 2023. 76.81% of the governance vote supported the proposal. 91.61% of voters in this session supported the measure to set aside up to 2 million ALGO for a Community Grants pilot program in preparation for the xGov implementation in the new year. Projects proposed by the community would be upvoted by xGovs and approved by General Governors before they can benefit from the Community Grants pilot program. Via the third measure, governors supported a maximum cap of 2 million ALGO in allocations to this program.

The fourth measure of this period sought to allocate up to 600k ALGO to support the development of NFTs on the Algorand platform and the creation of a community-curated NFT Collection to stimulate growth in the ecosystem. This proposal received 83.26% upvotes. However, the subsequent measure showed that governors (50.3%) preferred allocating 300k ALGO to establish the collection as opposed to the entire amount. The handling of this proposal remains to be seen as Algorand considers creating the collection as a strategic opportunity to raise awareness of NFTs, attract new creators and users to the platform, and foster engagement with the existing community. Rewards distribution is slated for Jan 6 while theĀ next governance periodĀ (GP 6) commences this weekend with a tw0-week commit phase ending Jan 16.

Latest update to Pera wallet lets users’ discover’ markets and DeFi

Pera Wallet, last weekĀ releasedĀ v5.6.0 which includes a new ā€˜Discover’ feature. The Pera team said that the feature allows easy access to market data and includes an in-app browser that enables users to explore popular Algorand dApps directly within the Wallet. It includes a smart home screen with constantly changing information, such as the current ALGO price, banners with timely campaigns and partnership announcements, featured dApps, and lists of the top gainers and top pools. Besides in-depth market analysis and access to the native swap feature for eligible pools, the Discover Markets tab presents users with information about the individual tokens through Pera’s ASA verification program. The Android version includes the Discover dApps section with a categorized list of popular Algorand dApps and integrated Pera Connect functionality, with plans to add a fully featured browser in future releases.

Algorand (ALGO) token scratches new year low price

Falling prices in the altcoin market have again brought into light the pertinent question,Ā ā€œHow far can prices sink?ā€Ā with a new answer seemingly coming up after each wave of volatility. The ALGO token has been continuously dumping value for over seven weeks since tracing a minor ascent to $0.44 on Nov 8. During this period, the ALGO/USD value has more than halved to $0.163 at writing, bringing December’s losses to approximately 32%. The 24-hr ALGO price chart shows two noticeable consecutive dips – both leading to a yearly-low marginally above $0.16.


Now under the influence of sellers determined to push the price south in the aftermath of the $0.28 support breach, ALGO has revisited March 2020 levels. The global pandemic acted as the driver in the aforesaid period during which $0.163 and $0.42 served as supports. The current price range, 90% down since the start of the year, is barely a significant fraction of the $3.28 all-time high price and hardly provides an opportunity to short. The 24-hr, 7-day and 1-month technical analysis summaries paint a picture of strong sell.


ALGO/USD YTD price chart. Source:TradingView

Diamond hands have a safer option in stomaching potential losses until the equities market recovers as opposed to exiting at the current prices. On the other hand, a scoop at the present spot price appeals to antsy potential investors. However, this group needs to have a little forethought beyond the dollar value prior to any execution, as there is no certainty the bears has found an ultimate bottom.

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Stellar's Ecosystem Surges Forward: Smart Contracts, Lightning Speed, and Real-World Impact in 2025

The Stellar blockchain ecosystem is experiencing remarkable momentum in 2025, with groundbreaking technical achievements and expanding real-world adoption that position it as a major player in the decentralized finance landscape. From lightning-fast transaction speeds to innovative smart contract capabilities, Stellar is demonstrating that blockchain technology can deliver both performance and practical utility.

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Smart Contracts Get Smarter with Soroban

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New Token Standards Meet Market Needs

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These standards are particularly important as institutional adoption continues to grow, with organizations requiring robust, compliant, and flexible token frameworks for their blockchain initiatives.

Global USDC Integration Expands Utility

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Real-World Impact in Emerging Markets

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Looking Ahead: Enterprise-Grade Infrastructure

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The Road Forward

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Source: The Dinarian ⚔ Claude AI

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Soroban Security Audit Bank: Raising the Standard for Smart Contract Security

The Stellar Development Foundation (SDF) is deeply committed to helping ensure that the highest security standards are available for projects building on the Stellar network. Last year SDF launched the Soroban Security Audit Bank, an initiative to provide projects access to auditing experts and tooling that are proven to help prevent hacks by catching potential bugs, inefficiencies, and security flaws before contracts go live. Through the Soroban Security Audit Bank, we’re empowering teams building on Soroban with comprehensive security audits from leading audit firms, enhanced readiness support, and robust tooling, significantly elevating the ecosystem’s safety and efficiency.

SinceĀ launch, the Soroban Security Audit Bank has successfully conductedĀ over 40 essential audits, deploying over $3 million to support security of the smart contracts on Stellar. Check it out!

Ā 

Ecosystem Success Stories: How the Soroban Audit Bank Drives Security Forward

By making automated formal verification available to developers, in addition to allocating significant budget for securing many of the top DeFi protocols built on top of Stellar, SDF has established a new security standard in the Web3 ecosystem. –Mooly Sagiv,Ā Co-FounderĀ of Certora
SDF has been a strong partner as we’ve worked with teams across the Stellar ecosystem. SDF’s Audit Bank initiative allows for a smooth and streamlined review process, and is a clear reflection of the Stellar ecosystem’s enhanced commitment to security. –Robert Chen,Ā CEOĀ of OtterSec
Ā 

Leading projects within the Soroban ecosystem have highlighted the impact of the Audit Bank

Finding a good auditor is difficult, expensive, and high-stakes. The Audit Bank streamlines the process and supports ecosystem projects with security review at critical growth milestones. –Markus Paulson,Ā Co-FounderĀ of Script3
The audit firms we worked with deeply understood the full ecosystem and the underlying protocols used. Their expertise and the tools from the Audit Bank strengthened our security and supported user and investor trust. –Esteban Iglesias ManrĆ­quez,Ā Co-Founder of Palta.Labs

What's New in 2025: Enhanced Audit Support for Soroban Builders

Teams building financial protocols, high-dependency data services, high-traction dApps funded by the Stellar Community Fund are able to request an audit and will typically be matched with a reputable audit firm within two weeks. We recently restructured the program for this year to enhance audit efficiency and incentivize accountability, and rapid and complete vulnerability remediation:

  • Complimentary Initial Audit: Projects will need to contribute 5% of the audit cost upfront, but this co-payment amount is eligible for a full refund, provided that critical, high, and medium vulnerabilities identified are swiftly remediated within 20 business days of receiving the initial audit report (learn more).
  • Incentivized Security at Key Traction Milestones: Complimentary, extensive follow-up audits are available as projects achieve critical traction milestones (e.g., $10M and $100M TVL). These audits include deeper assessments such as formal verification or competitive audits, significantly boosting project security at pivotal stages.
  • Advanced Security Tooling: Projects can enhance their security self-serve through complimentary or discounted access to specialized tooling, which provide vulnerability detection and formal verification capabilities (see full list of available tooling). These tools are encouraged to capture ā€˜easy-to-spot’ issues prior to audit as well as a final check post-audit to increase the effectiveness and thoroughness of audits.
  • Enhanced Audit Readiness Support: Projects receive structured preparation support, including the implementation ofĀ best practices and security standardsĀ based on the STRIDE threat modeling framework. This ensures project teams are thoroughly prepared, optimizing audit efficiency and minimizing delays.

Get Started Today

If you're already funded through the Stellar Community Fund,Ā meet the criteriaĀ and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contactĀ [email protected].

If you haven't built on Stellar yet, we encourage you to start your journey with theĀ Stellar Community FundĀ to become eligible for future security audits and ecosystem support. For any broader questions on the program, contactĀ [email protected].

Also, we’re organizing an exciting series of workshops–join us for the kick-off onĀ Soroban Security Best PracticesĀ on Friday, May 30, 2025 at 2 PM ET onĀ @StellarOrg. Together, we're shaping a secure and resilient future for smart contracts on Stellar.

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

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Santander mulls stablecoin, crypto offering

BloombergĀ reported thatĀ Banco SantanderĀ is mulling introducing euro and dollar stablecoins, or potentially making a third party coin available to clients, citing sources. This move aligns with broader crypto ambitions, as its digital bank, Openbank, has reportedly applied for a European cryptocurrency license under the Mica Regulations and may enable retail access to digital assets.

Systemically important banks embrace stablecoins?

Major banks are now moving from observers to participants in this expanding market. Should Santander confirm plans to launch a stablecoin, it will be the fourth global systemically important bank (G-SIB) to do so. Societe Generale’s FORGE subsidiary launched theĀ EURCVĀ euro coin in 2023. Deutsche Bank is a partner inĀ ALLUnity, another stablecoin initiative with plans to launch this year, subject to regulatory approval. AndĀ Standard CharteredĀ is part of a joint venture in Hong Kong that intends to introduce a stablecoin.

Santander’s involvement could extend beyond an individual initiative. The bank is a shareholder in The Clearing House, where the Wall Street Journal reported thatĀ US banks are exploringĀ the potential to create a joint stablecoin. If a US initiative took that route it could involve nine more G-SIBs including Bank of America, Barclays, BMO, BNY Mellon, Citi, HSBC, JP Morgan, TD Bank and Wells Fargo.

Apart from these initiatives, our research shows that more than 20 other banks have been involved in stablecoin projects.

Until recently stablecoins were mainly used to settle cryptocurrency transactions and by residents in countries with volatile domestic currencies. During the last yearĀ stablecoinĀ infrastructure has been expanding, especially for mainstream cross border payments. Plus, President Trump issued an executive order prioritizing stablecoins. One of the administration’s motivations is this increases demand for US Treasuries,Ā lowering the interest rateĀ the government pays on the Treasury bills.

Santander as an early digital assets mover

Santander’sĀ stablecoin consideration builds on years of blockchain experience. The bank was an early Ripple investor and previously used Ripple’s permissioned network for payments (not XRP), while also embracing permissionless blockchain activities including issuing aĀ digital bond on EthereumĀ in 2019. This dual approach led to collaborations with other major players – alongside Societe Generale FORGE and Goldman Sachs, Santander participated in theĀ European Investment Bank’s first digital bond, also on Ethereum. Currently, the bank’s most significant digital money initiative involves Fnality, the wholesale blockchain-based settlement network, where Santander ranks among 20 institutional backers and is part of the early adopter group alongside Lloyds Bank and UBS.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ The Dinarian

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