FAQs
Frequently asked questions about the Algofi Lending V2.
Yes!
Yes, the V2 has been audited by Runtime Verification: https://github.com/runtimeverification/publications/blob/bcdc507b9bfc36f7f6df447898505a98b84c6143/reports/smart-contracts/algofi-v2-audit-report.pdf
See the official Ledger walkthrough: https://support.ledger.com/hc/en-us/articles/5824492595741-How-to-connect-Ledger-Nano-X-with-Pera-Algo-Wallet
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
Last modified 2mo ago