Top 3 Algorand DeFi Platforms!

S1mple Finance
2 min readMar 17, 2022

Today we are taking a look at the top Algorand blockchain performers in the DeFi industry for the past month!

What is DeFi?

Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. The system removes the control banks and institutions have on money, financial products, and financial services.

#3 Algofi

The Algofi platform allows Algorand users to lend and borrow to earn interest, get leverage, or short crypto assets. This guide will help you smoothly navigate the platform.

Algofi website:

Supported blockchains: Algorand

#2 Yieldly.Finance

Users can now use Yieldly’s cross-chain technology — a world-first — to exchange value between Algorand and Ethereum, and this is just the beginning.

Yieldly.Finance website:

Supported blockchains: Algorand, Ethereum

#1 Tinyman

Tinyman enables users to trade/swap Assets (Tokens/Currencies) at market rates.

Tinyman website:

Supported blockchains: Algorand

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