Odaily Planet Daily News Dojo Dujoor, the core contributor to the largest DEX Pact in the Algorand ecosystem, posted on Discord that he would resign and expressed concern about the prospects of the DeFi ecosystem on the Algorand chain.
Dojo Dujoor stated that it was unable to obtain additional investment to extend the development cycle of the project, and the investor believes that any native project on the Algorand chain is "currently uninvestable." (DL News)
According to previous news, in July this year, Algofi, the largest DeFi protocol in the Algorand ecosystem, announced that it would gradually cease operations. The Algofi team said its protocol would be set to a “cash-only mode” and shut down all social media accounts except the Discord channel “to ensure seamless, unified communication.”
Algofi said the closing process is expected to take several months, during which time the team will reduce the collateralization factor in the digital asset lending market on its platform, allowing liquidity to migrate to other protocols.