Gm #algofam! We read the updated @algofiorg roadmap and listened to their latest AMA hosted by @AlgoHQ so you don’t have to 😎 Here are our highlights #algorand #algo $algo

🧵👇

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Algofi is gearing up to become a 1-stop DeFi shop by building out a full suite of products powered by the Algorand Virtual Machine (AVM). In this first “salvo”, as the team put it, they will be releasing a DEX, StableSwap, V2 lending protocol, & enhanced analytics.

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Along with these new releases, the team provided updates on both the Aeneas Liquidity Program rewards and the rollout of their governance token (BANK).

More to come on this below.

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On February 21st, Algofi will release their DEX with the hopes it will become a game-changer for the ecosystem due to three key features: composability, flash loan support, and multiple fee tiers.

Let’s break this down further. 👇

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Composability: Users will be able to aggregate multiple swap trades into a single group transaction. This will enable more seamless arbitrage trading (i.e. triangle trading) and smart order routing (i.e. Uniswap’s Auto Router).

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Flash loans: Users will be able to take loans of assets & pay back the loan within the same transaction. This benefits both arbitrage traders (stable prices) and liquidity providers (additional fees). Algofi’s vision is this will provide the fairest pricing on Algorand.

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Multiple fee tiers: Instead of a static fee level of 0.3% for all LPs (like on Tinyman), users will be able to set other fee levels (i.e. 1%). This feature enables new & smaller projects to incentivize LPers to stake in their pools for higher rewards. Pretty cool, right?

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Let’s talk abt the StableSwap (named NanoSwap) next. With the number of stablecoins on Algorand growing, a big pain point for users has been the lack of a constant 1:1 exchange rate between them & the unnecessary amounts of slippage that occurs when swapping between them.

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To solve this, Algofi is releasing NanoSwap to stabilize these pairings. NanoSwap will charge 1/6th the fees (0.05%) and reduce slippage across stable swaps. The team estimates this will reduce tx costs by ~100% and provide the cheapest place to trade stablecoins on Algorand.

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Algofi will also be updating their lending protocol in June of this year to add many exciting features such as AVM, Ledger & Governance support, enhanced security, interoperability with the DEX & flash loan features, and much more.

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By integrating all of these features, Algofi has an exciting future ahead of it. They provided an example in which users will be able to deposit collateral & get max leverage all in one-click (i.e. instant zaps). This enhanced user experience is sorely missing from Algo atm.

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Last by not least, the team provided updates on rewards & governance. Early adopters of Algofi will be retroactively awarded (with ALGO) through the Aeneas program. The program officially launches on Algofi on February 21st alongside the DEX.

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Due to regulations, the team couldn’t provide info on BANK’s rollout but they hinted that early adopters will be rewarded for their loyalty. Governance is tentatively set to launch in September this year after the team launches all the new tech & features we just discussed.

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As you can see, there are lots of exciting features coming to Algofi this year. If you want to learn more, you can start by reviewing their roadmap for yourself.

Don't forget to RT to spread the word 👊

Until next time, govs!

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blog.algofi.org/algofi-roadmap…

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