Launched in 2021, Yieldly was a pioneering DeFi project on the Algorand network, designed to provide a suite of tools for users to exchange value and earn rewards. Its flagship products included a No-Loss Prize Game (where users could stake assets for a chance to win a large prize pool while earning a base APY), multi-asset staking pools, and a cross-chain bridge connecting Algorand to other blockchains like Ethereum. The project gained significant traction, becoming the largest DeFi platform on Algorand for a time. However, in 2022, the protocol suffered a series of devastating exploits that led to major financial losses. Following these events, the development team ceased communication and development, effectively abandoning the project.

Founded in

Singapore