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FAQs
Frequently asked questions about the Algofi Lending V2.

Is the Algofi Lending V2 ledger compatible?

Yes!

Is the Algofi Lending V2 audited?

How do I use a Ledger device with MyAlgo Algorand Wallet?

How do I use a Ledger device with Pera Wallet?

What are the transaction costs on the V2?

Action
V1 [ALGOs]
V2 [ALGOs]
Difference [%]
Supply
0.016
0.004
-75%
Withdraw*
0.015
0.004
-73%
Borrow*
0.015
0.004
-73%
Repay
0.016
0.004
-75%
In the V1, additional application calls are sent in a group to "buy" compute. Each additional txn affords another 700 execution units for our application logic, the base unit of compute in the AVM. This requires users to pay additional txn costs and sign ~10 additional txns.
In the V2, computationally heavy logic for calculating rewards distributions has been moved from the manager application to the market applications (distributing the load). Moreover, the calculation of a user's collateral and borrow positions has been written to minimize execution cost. These changes mean only 1 additional txn is required to submit the txn groups. Furthermore, this transaction is sent as an inner txn on the market application, so it does not need to be signed by the user. V2 costs and the number of txns are roughly 75% lower than the V1 while providing the user more functionality.
*An additional 0.001 for each additional 3 markets opted into
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Outline
Is the Algofi Lending V2 ledger compatible?
Is the Algofi Lending V2 audited?
How do I use a Ledger device with MyAlgo Algorand Wallet?
How do I use a Ledger device with Pera Wallet?
What are the transaction costs on the V2?