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.

Founded in

United States