Algofi is building a fast and low-cost lending market on the Algorand blockchain. Building on Algorand enables < $0.01 transactions compared to ~$15 or more on other incumbent networks. These high costs and slow transactions make decentralized lending markets inaccessible to the majority of potential users, something we are working to change. Our long term goals are quite ambitious. We aim to be the first crypto-native bank that bridges the gap between traditional and decentralized finance. The initial lending protocol will launch for users everywhere in Q4 of 2021, with additional fiat on- and off-ramp solutions, and more, forthcoming.

Category: Lending

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