What is the governance reward rate for Algorand?

Could you please clarify what exactly the governance reward rate for Algorand entails? Is it a fixed percentage or does it vary based on certain factors? Is it something that is directly tied to the number of tokens a user holds or is it more complex than that? Additionally, how often are these rewards distributed, and what are the benefits of participating in the governance process for Algorand? I'm curious to understand the specifics of this reward system and how it impacts the overall network.