According to the Daily Planet, Dojo Dujoor, a core contributor to Pact, the largest DEX in the Algorand ecosystem, posted on Discord that he would resign and expressed concerns about the future of the DeFi ecosystem on the Algorand chain. Dojo Dujoor said that he could not obtain additional investment to extend the development cycle of the project, and investors believed that any native project on the Algorand chain "is not currently investable."
Earlier 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 that its protocol would be set to "withdrawal mode only" and all social media accounts except the Discord channel would be closed "to ensure seamless and unified communication." Algofi said that the end process is expected to take several months, during which time the team will reduce the collateral coefficient of the digital asset lending market on its platform, allowing liquidity to migrate to other protocols.
