Algofi
Algofi's Overview
Algofi was a decentralized lending and borrowing protocol built on the Algorand blockchain, launched in late 2021. It offered users services such as over-collateralized lending, borrowing, and a stablecoin (STBL), aiming to provide fast, low-cost financial tools. In July 2023, Algofi announced its decision to wind down operations, citing 'a confluence of events' that made continued development and maintenance unviable. Users were advised to withdraw their funds, and the protocol entered a sunset phase. The founding team subsequently transitioned to Folks Finance.
Where is Algofi's Headquarters?
HQ Function
During its operational phase, the core team focused on protocol development, smart contract deployment, security, community management, and partnerships for the Algofi platform.
Notable Features:
N/A (No physical headquarters)
Work Culture:
The work culture was characteristic of early-stage DeFi projects: remote-first, highly collaborative, agile, and focused on innovation within the Algorand ecosystem. Emphasis was placed on community engagement and rapid development cycles.
HQ Significance:
As a decentralized project, its 'headquarters' was effectively its online presence and distributed team, coordinating efforts to build and maintain what was a leading DeFi protocol on Algorand.
Values Reflected in HQ: The operational model reflected values of decentralization, global accessibility, and lean operations, focusing resources on technological development and community support rather than physical infrastructure.
Location:
While operational, Algofi's decentralized finance protocol was accessible globally to anyone with an internet connection and an Algorand wallet. The platform aimed to support a worldwide user base for its lending, borrowing, and stablecoin services. Its community and development efforts were also internationally distributed. Post wind-down, the protocol's smart contracts remain on the blockchain but are no longer actively supported or developed by the original team.
Street Address:
N/A (Decentralized Operations)
City:
N/A
State/Province:
N/A
Country:
N/A (Global Team)
Algofi's Global Presence
N/A (Fully Remote/Decentralized)
Address: N/A
N/A
Buying Intent Signals for Algofi
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Executive Team of Algofi
As of April 2025, Algofi' leadership includes:
Investors of Algofi
Algofi has been backed by several prominent investors over the years, including:
Executive New Hires/Exits in the Last 12 Months
In mid-2023, Algofi announced the winding down of its DeFi protocol. Following this, the co-founders, John Alan Woods and Owen Colegrove, transitioned to leadership roles at Folks Finance, another Algorand-based DeFi platform. There were no new executive hires at Algofi during this period as it ceased active development.
Departures
Technology (Tech Stack) used by Algofi
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Algofi Email Formats and Examples
As a decentralized finance protocol, Algofi primarily utilized public channels for communication and support, such as Discord, Twitter (X), and its official blog. Direct email addresses for individual team members were generally not the primary mode of public contact. With the protocol now wound down, official communication channels are no longer actively monitored for support.
N/A (No standardized public email format)
Format
N/A
Example
0%
Success rate
News and media
CoinDesk • July 10, 2023
Algofi Announces Winding Down of its DeFi Protocol on Algorand
Algofi, a prominent decentralized finance (DeFi) lending and borrowing protocol on the Algorand blockchain, announced its decision to wind down operations in July 2023. The team cited 'a confluence of events' making continued platform maintenance and development unviable, and advised users to withdraw their assets....more
The Block • September 13, 2023
Algofi Co-Founders John Alan Woods and Owen Colegrove Join Folks Finance
Following Algofi's decision to wind down, its co-founders, John Alan Woods and Owen Colegrove, announced in September 2023 that they would be joining Folks Finance, another leading DeFi protocol on Algorand. Woods took on the role of Chief Technology Officer (CTO), and Colegrove was set to lead DeFi strategy at Folks Finance....more
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