Algorand pioneer Yieldly is building bridges to the future of DeFi

The Decentralized Finance (DeFi) markets are synonymous with the Ethereum blockchain protocol. So it is quite an event when an ambitious DeFi application chooses to launch its offering on another one. 

That is exactly what Yieldly, the provider of staking contracts and a no loss lottery, chose to do when in 2020 it became the first DeFi platform to be built on the Algorand blockchain. The relative attractions of Algorand – lower fees, faster transaction speeds and energy efficiency – were predictable enough, but Yieldly has other reasons for preferring the alternative blockchain. Dominic Hobson, co-founder of Future of Finance, spoke to Simon Giles, co-founder of Yieldly, about its initial choices and what the business plans to do next.