Company Information

Get to know Algofi

Algofi was a comprehensive decentralized finance (DeFi) protocol launched on the Algorand network in late 2021. Its mission was to provide a full suite of DeFi services, including over-collateralized lending and borrowing, a decentralized exchange (DEX), and a native stablecoin (STBL). The platform aimed to be the primary liquidity hub for the Algorand ecosystem. However, in a blog post on July 10, 2023, the team announced they would be winding down the protocol, citing a "confluence of events" that made it no longer viable to continue building. The protocol was placed in withdrawal-only mode and has since been sunsetted.

Industry

Crypto CryptocurrencyPRIMARY
Crypto Exchange
Financial Other Service

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Algofi

United States

Founded in

2021 (5 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Licenses

--/40

Reviews

--/60

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Regulated

Recommended

(77 reviews)

Cyprus

2009

(17 years)

Security Information :

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Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.