Algorand Websites Newcomers Should Explore

Algorand Ecosystem For Beginners

Algorand Ecosystem For Beginners

In this post I'll present the most essential dApps and websites to know about as an Algorand novice. I've already made an Extensive List of Algorand Utility, but I figured it might be overwhelming to those new to the ecosystem. 

The development of Algorand started in 2017, but it was launched only in April of 2019. Thanks to the fundamental technology being exceptional, growing pains haven't really been a problem to this particular blockchain and cryptocurrency. 

However, it has taken time for the ecosystem to grow, with the current wide range of dApps only being available as of late. The ecosystem growth accelerated by the developers launching a virtual machine for smart contracts, which made smart contract integration much easier for programmers of all backgrounds.

Nevertheless, the larger a blockchain ecosystem growths, the more difficult it can be come to navigate inside of it. Especially for beginners. Hence I've tried to make a short list about the 6 most important dApps and websites on Algorand, so that you can calmly start your DeFi journey. 

💡Pro Tip 💡
You'll need to have an Algorand Wallet installed on your phone in order to engage with the ecosystem. Check out the Algorand Wallet Guide to read more about it and learn how to set it up.

List of Algorand Websites for Beginners

  1. Tinyman
  2. Yieldly
  3. AlgoExplorer
  4. Algorand Foundation
  5. Algorand Stats
  6. NFTExplorer


1. Tinyman

Website: app.Tinyman.org

Tinyman is the first decentralized exchange (DEX) for swaps of all the ASA tokens on the Algorand blockchain. It was launched on 7th of October 2021.

The Tinyman platform is one of the most important tools in the Algorands ecosystem. It allows liquidity pools to be formed between Algorand and different ASAs, or even between the ASAs themselves. In other words, you don't need a token to be listed on an exchange to trade it. Are you looking to buy Yieldly, DEFLY or HDL? Tinyman is the place to go. 

In addition, users and developers can set up their own liquidity pools for token pairs previously not existing. Not only that, but all of this is provided by Algorands underlying secure, cheap and fast protocol.

Yieldly
Yieldly dApp Website

2. Yieldly

Yieldly was launched in June 2021 is the first decentralized finance (DeFi) platform on the Algorand blockchain protocol. In short it's what Polygon is to the Ethereum blockchain.

Yieldly have stated that their mission is to allow secure and fast swapping of ASA's on the platform, as well as allowing crosschain transactions (i.e ALGO<->ETH, ALGO<->BTC, etc). Furthermore, they're also aiming to provide an easy way for ASA developers to create their own staking pools and prize games.

 At launch it offered No-Loss Prize Games as well as ALGO and Yieldly Token staking. Currently Yieldly also offers Staking Pools for several ASAs - including GEMS, Choice, XET, and more! Staking APY ranges from everything between 17-76%. This number is changes dynamically depending on the amount of total tokens staked in one pool. No lock-up required, which means you're able to withdraw your staked amount and reward at any moment

If you stake your ALGO on Yieldly you'll automatically participate in the No-Loss Lottery where you have a chance to win tens of thousands of ALGO each week.

Finally, Yieldly are also launching an E-Sports focused NFT marketplace called Yesports.gg.

AlgoExplorer
AlgoExplorer Interface

3. AlgoExplorer

Website: AlgoExplorer.io

AlgoExplorer let's you explore the Algorand blockchain and check any Algorand wallet addresses, transactions, staking rewards, tokens, prices, stats and other activities. It's basically the oracle of information about what's going on in the blockchain. It's difficult to say if you'll end up using this website a lot or not much at all, however it's critical to know about it's existence. For instance, you might want to double check that certain transactions went through, see your total staking reward amount, spy on whale wallets, etc. 

This is also from where a lot of other Algorand applications pulls their statistics and information. 

4. Algorand Foundation


The Algorand Foundation is the core organization behind Algorand. Above is the official website from the developers, which it includes essential information and news about the blockchain. Any updates to the protocol will be announced through it. Now this might not be a website you'll visit everyday, but it does offer a great amount of information about the actual protocol and other projects and collaborations taking place on Algorand. 

Nonetheless, the most important subpage you'll encounter is the Algorand Governance Page. Here you can enter to participate in governance, vote on different topics, and check your current eligibility. 

💡 Learn More About Algorand Governance 💡
If you're not familiar with Governance you can find all the information you need in this AlgoDaddy Guide to Governance & Staking. The Governance Program a great way to earn interest on your ALGO while also taking part in deciding on Algorands future.

Algorand Stats
AlgorandStats.com

5. Algorand Stats


Algorand Stats is a fairly simple but well-designed website where you can keep track of the most essential statistics about the Algorand blockchain and the Governance Program in particular. The website has a sleek and easy-to-use user interface, making it perfect for newcomers to explore. View the amount of current governors and committed ALGO, see the largest participating wallets, check the estimated APY reward for the current 3-month period, and much more.

6. NFT Explorer

Website: NFTExplorer.app

Odds are you've heard about NFTs. Non-Fungible Tokens are a large part of Algorand ecosystem, and if you have any interest in engaging with that part of the ecosystem, then NFTExplorer is your go-to website. You can monitor current auctions from different NFT market places, view statistics about every NFT on the blockchain, and browse the most popular NFTs and collections out there.

New to Algorand and want to learn what's popular in the NFT space? 
Check out this list of the Top 5 NFT Collections on Algorand that I made a while back.

Final Thoughts

There are of course a plethora of  websites you could explore in the Algorand ecosystem, but this article purposely limited these to these 6 most important ones. Leave feedback in the comments on any social media if you think I've missed something you would like to have seen on this list. 

Make sure to follow me on Twitter for the latest updates and guides. If Twitter isn't your jam, then I've also got a newsletter which you can sign up to below this article. I promise that I'm only sending emails when new articles launch. No spam. 

Lastly, if you enjoy my content, please consider buying me a coffee to help support future articles with informative content about the Algorand and it's ecosystem.

Take care until next time. Algo and out.

AlgoDaddy

Post a Comment

0 Comments