Algorand’s Top DeFi Protocol Algofi Announces Closure of Platform
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Algorand-based decentralized finance (DeFi) protocol, Algofi has announced the closure of its platform. The project contributed more than 50% to Algorand’s total value locked (TVL) With the crypto winter, many projects had to shut down their platforms due to difficulties and contagion effects. While the crypto market tries to bounce back from the winter, Algofi has announced it is winding down operations. Algofi Goes Into Withdrawal-Only Mode Algofi announced the shutdown of its platform and put it in withdrawal-only mode. The team wrote on Twitter: “Going forward we are no longer able to provide the support necessary to maintain the
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