The Definitive Defly Guide (Beta Edition)
Learn what Defly is & how to navigate the beta like a pro
The Club has moved to our own custom website: www.governorsclub.xyz.
Even though we've moved, our content and dedication to being the definitive source to upgrade your Algorand DeFi and NFT game remain unchanged!
We'll keep this substack accessible for a short period of time, but we encourage you to update your bookmarks and links to our new domain as soon as possible to continue your Algorand journey.
Thank you for your continued support, and we look forward to seeing you at the new and improved Club!
Gov Tip: If you’re new to Algorand, make sure to check out our Algorand Beginners Guide to begin your Algorand journey!
What is Defly?
Defly is Algorand’s first fully functional DeFi wallet mobile app compatible with both iOS and Android. Simply put, Defly’s initial use case will be to make trading as seamless and user-friendly as possible within the Algorand ecosystem all directly from users’ wallets.
They will attempt to accomplish this through two main features: a slick UI experience optimized for mobile & an aggregation of all the DEXs across the ecosystem to provide users with the best price possible on their swaps. As more and more DEXs launch on Algorand’s mainnet, users (particularly traders) will need to determine which protocol’s pools have the most liquidity and the lowest prices/fees. This could be a potential huge time suck, and as we all know time is money. Defly will save you that time, energy, effort, and ultimately money.
Defly will have many amazing features built directly into the app that will allow users to:
Link existing Algorand wallets (including the storage of your private keys locally with full encryption) within their app
Monitor their portfolio & its value in real-time
View trading charts across ALGO/ASA and ASA/ASA pairs
This will include charting capabilities such as candlesticks & indicators (i.e. moving averages)
Automatic opt-in and redemption of excess assets on swapping
Review and sort ASA stats such as supply, market cap, circulation, liquidity, volume, and more
Review and sort liquidity pools stats such as swaps, liquidity, total volume, age, and more
Receive price alerts via email
We haven’t even touched on the best part. The above is just the beginning for Defly! This year alone the dev team plans to implement the following features:
Price alerts via push notifications
Limit orders & target prices
Support for cross-chain bridges
Support for multiple swap protocols
Advanced portfolio stats
And if all this wasn't enough, the Algorand Foundation recently announced they’re going to partner with Defly’s partner company Blockshake to help develop their product. They dubbed Defly “the Algorand DEFI wallet app, a mobile crypto trading app maximizing the user experience of decentralized exchanges”.
If you missed it, read it again, gov. “THE” Algorand DEFI wallet. That’s a pretty strong endorsement from the Foundation if you ask us. We’re excited to see how Blockshake, the Foundation, and the community help evolve this project this year starting with their final production app release in April later this year.