Algofi
A lending market from Y Combinator’s Summer 2021 batch
A decentralized borrowing, lending and stablecoin platform on Algorand.
- Capital raised (announced)
Disclosed November 2021 seed round.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Seed | 30 November 2021 |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| Owen Colegrove | — | Founder, Event Horizon Labs | Oct 2026 | |
| John Clarke | — | Not established | Oct 2026 |
Timeline
1 September 2023
The announced schedule reduced collateral factors to zero by the beginning of December and halted liquidity mining. This schedule does not establish completed withdrawals.
How it ended
Algofi’s developers said a combination of events made maintaining the platform to their standards no longer viable; they announced a transition to withdrawal-only operation.
Still alive
Open spot
Algofi is gone. Is your lending protocol still running?
Spotlight your project here.
Sources
5 sources behind this page.
- 1Algorand decentralized lending protocol Algofi to shut down by end of year · Cointelegraph · Jul 2023
- 2Algofi Raises $2.8M in Seed Funding · FinSMEs · Dec 2021
- 3RocketReach: professional biography · RocketReach
- 4Algofi: Building the new financial system · Y Combinator
- 5Y Combinator: professional biography · Y Combinator
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.