Today marks a big milestone for the [Algorand Core Team](https://www.algorand.com/) and [Algorand Foundation](https://algorand.foundation/). They conducted the [first on-chain Algorand auction](https://algorand.foundation/algo-auctions) and it came off without a hitch. It took a lot to get here and so: huge congratulations to everyone involved! Among other things this means that the Algorand Mainnet is now live and you can [use the Algoexplorer](https://algoexplorer.io/) to see what’s going on there. The team also [recently open sourced all the code](https://www.algorand.com/resources/blog/opensourceavailable).

The auctions themselves are meaningful in several ways. They show off a capability that is built natively into the Algorand blockchain. This capability will be useful for all sorts of auctions, not just of Algos but of other items. This is a novel way of combining price discovery with ongoing funding for the development of Algorand. [New auctions will be conducted with some frequency and you can learn more about them, including the Dutch auction mechanism and the refund policy](https://algorand.foundation/algo-auctions).

This launch is just the beginning though. Algorand has a [deep technology roadmap](https://www.algorand.com/resources/blog/providing-technological-breakthroughs-to-algorands). So stay tuned for more!