The Ligero team is developing and implementing the MPC. They will present it to various MPC experts on Feb 3 at “VDF day” (a research event organised by the Ethereum Foundation and Filecoin). They are working towards a formal description of the protocol with a proof of security.
while the last potential revealer can bias the result, there is no incentive for them to do so
The analysis for Algorand is similar to that of RANDAO. A last revealer has the incentive to bias the randomness (by not revealing) when that makes them the last revealer (with sufficiently high probability) for the next 2+ slots. An attacker can also somewhat manipulate the committee selection process to his advantage.