TechFlow, Algofi, the largest DeFi protocol in the Algorand ecosystem, has announced it will gradually cease operations. The Algofi team stated that its protocol will be switched to "withdrawal-only mode," and all social media accounts except the Discord channel will be shut down to ensure seamless and unified communication.
The wind-down process is expected to take several months, during which the Algofi team will reduce the collateral factors of the digital asset lending market on its platform, allowing liquidity to migrate to other protocols.
Add to Favorites
Share to Social Media
