Inactive

Algofi Lend Review 2026: Shutdown and lending history

Algofi Lend was an Algorand lending protocol and stablecoin project. Algofi announced a shutdown for the end of 2023, so it should be treated as inactive rather than as a live lending service.

Algorand

By the DappsAtlas editorial team · Updated Nov 6, 2026

DappsAtlas score

—/10

Not rated

Our verdict on Algofi Lend

Algofi Lend was an Algorand-based lending protocol with a stablecoin component, but Algofi announced that its services would close by the end of 2023. Its main appeal was a lending product built for the Algorand ecosystem; the central caveat is that there is no confirmed active service or current withdrawal process. Treat Algofi as inactive, and verify any past deposits or on-chain balances against official shutdown guidance before taking action.

Score breakdown

How Algofi Lend scores

Security: n/a
Ease of use: n/a
Fees: n/a
Features: n/a

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Algofi Lend?

Algofi Lend was a decentralized lending protocol and stablecoin project built on Algorand. It was categorized as a lending service and was listed as operating on Algorand.

Algofi announced that it would close its services by the end of 2023, citing an inability to maintain standards. The protocol should be treated as inactive; a listing or historical balance does not establish that markets or withdrawals remain available.

How Algofi Lend works

Algofi Lend was described as a decentralized lending protocol on Algorand. In a typical lending market, users supply crypto assets to pools, while borrowers take loans subject to collateral requirements and market rules.

Algofi was also described as having a stablecoin, but its mechanics and relationship to the lending markets are not established. The project announced a shutdown for the end of 2023, so these details describe its general product type, not a service confirmed to be operating now.

2 features

Key features

Algorand lending

The protocol was described as a decentralized lending service running on Algorand.

Stablecoin component

The project description also identified a stablecoin, but its design and current status are not established.

Pros and cons

What we like

Built on Algorand, with lending as its stated core product.
The project description also identified a stablecoin component.
Two audits are listed, although their scope and reports are not established here.

Watch out for

Algofi announced that it would shut down its services by the end of 2023.
There is no confirmed active lending service to use.
Current withdrawal options and shutdown procedures are not established.
Fee details, team information, and audit reports are not published here.

Algofi Lend fees

Fees are not published. As the service was announced for shutdown, there is no confirmed live fee schedule to consult.

Is Algofi Lend safe?

Algofi announced a shutdown for the end of 2023. The current status of its contracts, markets, and withdrawal processes is not established, so users should not assume that an old interface or displayed balance represents an active service.

Two audits are listed, but their names, scope, and findings are not established. Fees, custody details, and regulatory status are also not published. Smart-contract and asset-recovery risks remain relevant for anyone with funds previously connected to the protocol.

4 steps

How to get started with Algofi Lend

1
Treat Algofi Lend as discontinued; do not rely on it as a live lending market.
2
Before interacting with any interface associated with Algofi, verify that it is an official channel and check for shutdown guidance.
3
If you previously supplied assets, review your Algorand transaction history and any official instructions for withdrawals or migrations.
4
Do not send assets or approve transactions unless you can independently confirm the destination and purpose.

Who Algofi Lend is for

Algofi Lend is relevant mainly to people researching Algorand DeFi or checking the history of assets they previously supplied. It is not a suitable choice for someone seeking an active lending protocol.

Algofi Lend FAQs

Is Algofi Lend still active?

No. Algofi announced that it would close its services by the end of 2023. Treat it as inactive and do not assume its lending markets are available.

What was Algofi Lend?

Algofi was described as a decentralized lending protocol and stablecoin built on Algorand. Lending protocols generally let users supply assets to markets and borrow against collateral, subject to each market’s rules.

Can I withdraw assets from Algofi?

Current withdrawal options and any remaining shutdown instructions are not established. Check Algorand transaction records and any official shutdown guidance before taking action with assets connected to the protocol.

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