5 of the Many Projects Building on Algorand

Sheesha Finance’s launch on the Algorand Blockchain means there’s a whole new ecosystem of promising DeFi projects for them to partner with.

More importantly, it means that their community gets to benefit from projects on the blockchain that is building the future of Finance.

They’re very excited to offer partner token rewards from the Algorand blockchain.

With that said, let’s take a look at five of the many DeFi projects building on Algorand.

Please note that this doesn’t mean these will become Sheesha Finance partner projects. They’re simply exploring what’s being built on Algorand.

Ready? Let’s dive into the Algorand ecosystem.

IDEX ($IDEX)
•Total Supply: 1,000,000,000
•Circulating Supply (at the time of writing): 637,539,385
•Market Cap (at the time of writing): $89,060,305

IDEX is the world’s most advanced decentralized smart contract exchange, enabling real-time trading and high transaction throughput. Limit and market orders, gas-free cancels, and the ability to fill many transactions at once are all supported by IDEX, the most advanced DEX. IDEX and Algorand will collaborate closely to build financial instruments and services that will support new economic trade.

The Algorand platform is used by IDEX to construct a Layer-1 solution with full finality, asset tokenization, and programmable transfers. IDEX will be able to offload smart contract difficulties onto the Algorand platform’s native features thanks to Algorand’s upcoming unique and high-performing primitives. Algorand’s main offerings will provide significant value to IDEX.

Smile Coin ($SMILE)

•Total Supply: 10,000,000,000
•Circulating Supply: 10,000,000,000
•Market Cap: $4,412,884

SSmile Coin
aims to decentralize gaming by allowing users to control, measure, and view their gaming behaviour on open, public infrastructure. The blockchain-based network will establish a decentralized platform. Enabling players to govern and control how their gaming data is used, as well as to apply AI techniques to improve performance. Their offerings will also include streamlined financing for gaming companies and alternatives for payment processing.

The project started creating its program on Ethereum
but faced scaling issues in order to satisfy the demands of the enormous gaming industry.

Smile Coin’s developers choose Algorand as their platform of choice in order to provide customers with a speedier, more cost-effective, and fully decentralized transaction platform.

Yieldly ($YLDY)

•Total Supply: 10,000,000,000
•Circulating Supply: 4,542,513,027
•Market Cap: $27,861,145
Yieldly
is the world’s first borderless and interconnected DeFi platform, built on the Algorand platform. Its objective is to enable the next billion crypto users to exchange digital money without friction, inefficiency, or danger of security.

Borderless Capital , LongHash Ventures and CMS Holdings
are among the leading venture capital firms backing Yieldly. Halborn
,an award-winning cybersecurity firm, audited and secured it.

Yieldly has created Algorand’s first set of DeFi smart contracts. It allows users to stake, pool, and transfer Algorand Standard Assets
(ASA) by introducing the power of DeFi to Algorand.

The project’s world-first bridge solution provides Algorand with even more interoperability with mission-critical infrastructure. ASA tokens can now move freely between all main protocols, including Algorand, thanks to Yieldly. The initial application is an Algorand-Ethereum bridge, which allows for low-cost, near-instant token swaps between ecosystems.

On Algorand’s high-performing and cost-effective blockchain infrastructure, Yieldly enables developer growth. Yieldly is a platform that connects creative ASA-based projects with liquidity and consumers, allowing them to accelerate development and acceptance.

Opulous ($OPUL)

•Total Supply: 500,000,000
•Circulating Supply: 41,132,507
•Market Cap: $17,000,574

Ditto
,the award-winning global music distribution and record label services company that has processed over $1 billion in royalties to date, is working on Opulous
.A groundbreaking peer-to-peer platform that will help artists gain access to capital without relying on traditional institutions like banks.

Ditto’s company has grown to include record label, publishing, and management services in addition to distribution. Every decision they’ve taken has been guided by their aim of assisting musicians in taking charge of their own musical careers.

Algorand was chosen for Ditto’s Opulous
venture because of several key characteristics that will help it transform prospects for musicians. Algorand is the industry leader in transaction speed, with all transactions taking less than 4.5 seconds from sender to receiver.

Because of the blockchain’s scalability, Opulous will be able to grow quickly as lenders and borrowers realize its game-changing potential. Algorand also has the security and legitimacy of a genuine, long-term blockchain participant. Which was vital to the Opulous team as part of their long-term strategy.

Orion Protocol ($ORN)

•Total Supply: 100,000,000
•Circulating Supply: 34,250,000
•Market Cap: $105,663,636

Orion Protocol
is based on the most advanced liquidity aggregator ever created. It addresses some of the most pressing concerns in DeFi by combining the liquidity of the whole crypto market (CEXs, DEXs, and swapping pools) into a single decentralized platform.

It is the first project to use a Dynamic Coin Offering
(DYCO). This is a new token sale framework in which utility tokens are USD-backed for up to 16 months after the TToken Generation Event
(TGE). Participants are eligible for an 80% refund, providing protection and safety never seen before in crypto.

Orion has joined the Eterna Capital Venture Studio
.This is a collaboration between Eterna Capital
, Borderless Capital, and Algorand. Helping companies develop valuable solutions in finance, exchange, custody, and other areas. For developers and entrepreneurs working with Algorand, the venture studio will provide a variety of tools and resources for developing dApps. Orion and Algorand both believe in a decentralized financial system.

Get Ready to Earn Partner Token Rewards on Algorand
Now that you know about the above, feel free to explore all of the other great projects building on Algorand
.Get ready to make the most of your $SHEESHA tokens on Algorand.
Sheesha Finance
is a leading DeFi Staking Platform providing premium cryptocurrency portfolio diversification and rewards. Sheesha Finance rewards investors of any size, from small to large ticket holders, with DeFi tokens from a diversified portfolio of projects.
Its easily convertible assets can be freely utilized to maximize rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organization (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
In the coming days and weeks, they will provide more information about their launch on Algorand.
Stay tuned by following them on their socials and on Medium by clicking the buttons below.
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