In this article:
What is the Algorand ecosystem?
The Algorand ecosystem comprises all elements of the Algorand blockchain, from Algorand tokens, also known as Algorand Standard Assets (ASA tokens), to DeFi dApps and everything in between.
Algorand is a decentralized, highly-scalable, and innovative blockchain protocol created by MIT professor and Turing award winner Silvio Micali.
Using a novel pure-proof-of-stake (PPoS) system, Algorand ensures decentralized, democratic consensus. Anyone with at least one ALGO can opt-in to participate, making them eligible to be selected randomly to propose and add new blocks to the chain.
Algorand can process up to 6,000 transactions per second (TPS), with confirmation times of less than five seconds and low fees.
For help navigating and understanding the Algorand ecosystem, Algoexplorer is currently the most reliable block explorer for your ALGO adventures.
Whether you want to score some NFTs, earn rewards by participating in community governance, or explore Algorand DeFi, this introduction to everything Algorand has got you covered.
How do I connect to Algorand dApps and web3 apps?
First of all, what are dApps and web3 apps? They're like any other app, except they're built using blockchain technology like smart contracts. Instead of signing in with a username and password, you connect with a crypto wallet.
All dApps are web3 apps, but not all web3 apps are decentralized, so 'web3 app' is the umbrella term used for any app you connect to with a crypto wallet. If you'd like to learn more, visit: What are dApps and web3 apps?
You can connect to Algorand web3 apps with the Web3 browser or WalletConnect in Exodus Mobile, or by using the browser extension Exodus Web3 Wallet.
Web3 browser on Exodus Mobile
You can connect to some of the most popular Algorand web3 apps with the Web3 browser in Exodus Mobile.
When you're connected, you can explore the wonderful world of web3. Browse and bid on NFTs, participate in DeFi, and much more. To learn more, visit: Web3 browser in Exodus Mobile.
WalletConnect on Exodus Mobile
You can connect to Algorand web3 apps with WalletConnect in Exodus Mobile.
WalletConnect is an open-source tool that connects mobile wallets to web3. To learn more, visit the article: WalletConnect in Exodus Mobile.
Exodus Web3 Wallet
You can use Exodus Web3 Wallet to connect to any Algorand web3 app.
Web3 Wallet is a multi-chain browser extension wallet for Chrome and Brave. To learn how to download, install, and use Web3 Wallet, visit: Getting started with Exodus Web3 Wallet.
Tutorial video: How to connect to Algorand dApps and web3 apps
What are some popular dApps and web3 apps on Algorand?
There are a lot of dApps and web3 apps to explore that cover everything from DeFi to NFTs and more. Below, you can find some of the most popular Algorand web3 apps.
You can connect and explore without any funds in your wallet. But if you want to interact with web3 apps, you'll need some Algorand (ALGO) in your wallet to pay transaction fees.
Don't have any ALGO yet? Jump to: How do I buy Algorand (ALGO)?
It's important to note that Exodus provides a software interface that allows you to connect to web3. Exodus can't guarantee the safety of any third-party platform, including the web3 apps listed here. Make sure you do your own research and only connect to web3 apps you trust 100%.
For more information about how to stay safe while exploring the wide world of web3, please visit: Safety and security for DeFi and web3.
Tinyman is a decentralized trading protocol that makes use of Algorand's fast and secure protocol to provide a safe environment for traders, liquidity providers and developers alike.
Tinyman has two classes of users. Swappers can trade assets with bots or through the app interface. Poolers generally hold a reasonably large amount of assets, provide asset liquidity for the trading pools, and receive a percentage of the trading fees as a reward.
Yieldly Finance currently offers staking, LP, and distribution pools. You can stake tokens or provide liquidity and earn rewards. It plans to offer an automated market maker in the future.
It also offers yNFT, an NFT marketplace on Algorand.
Humble is a suite of DeFi products, including an automated market maker, decentralized exchange, and decentralized autonomous organization.
Humble allows users to swap or pool their ASAs and earn rewards through transaction fees.
AlgoFI provides a decentralized exchange and lending protocol for ASAs. AlgoFi recently underwent an update to its lending platform and native stablecoin STBL2.
Algofi users can trade with leverage by using STBL2 / USDC LP positions as collateral to borrow against.
Algogems offers zero-fee NFT minting and an NFT marketplace with fees of only 0.001 ALGO for auctioning, selling, bidding, or buying.
Algogems launched its own ASA token, $GEMS, which rewards creators and allows both creators and supporters to participate in the Algorand ecosystem through its governance layer.
AlgoSeas is another popular NFT marketplace that supports Algorand NFTs.
AlgoSeas also offers an idle staking rewards game where users mint pirates, train them and send them out to battle. 25% of all revenue has been set aside as rewards for players, meaning that rewards don't depend on new users constantly joining.
How do I earn ALGO rewards?
You can earn ALGO rewards by participating in Algorand's community governance program.
The Algorand community governance portal provides a one-stop shop for aspiring Algorand governors.
With community governance, the future development of Algorand is put into the hands of any ALGO holder willing to commit some funds. Governors can commit as much or as little ALGO as they wish, cast their vote in protocol-changing voting sessions, and claim rewards for their participation.
To learn all about how you can participate in Algorand's decision-making process and earn governance rewards, check here: How do I earn ALGO rewards with Algorand's Community Governance program?
How do I buy Algorand (ALGO)?
If you need to buy some Algorand (ALGO), you can use the Buy Crypto feature in your Exodus wallet!
If your region is supported, you should be able to purchase through MoonPay from right within your Exodus wallet. You can find our step-by-step guide here:
For general info on how to buy crypto, visit: How can I buy Bitcoin and other crypto?
How can I swap Algorand and Algorand tokens in Exodus?
You can exchange ALGO and many different cryptocurrencies directly from Exodus Web3 Wallet, Desktop and Mobile. In most cases, you don't have to KYC, and exchanges are often complete in a few minutes!
Swapping ALGO is available on:
Which Algorand tokens does Exodus support?
Exodus supports many Algorand tokens! You can search for your token and enable supported Algorand tokens by following the steps in this guide: How do I enable and disable assets in Exodus?
Can't see the token you are looking for? We've got you covered. Jump to: How do I add custom Algorand tokens?
You can see all supported ASA tokens if you filter by the Algorand network in the Assets section of your wallet. For a full guide on how to do this, visit: How do I find an asset by its network?
How do I add custom Algorand tokens?
On the off-chance Exodus doesn't yet support your favorite Algorand token, you can add it as a custom token!
Find all the steps here: How do I add a custom token?
How do I display my Algorand NFTs?
You can display your Algorand NFTs in your NFT Gallery in Exodus.
The Exodus NFT gallery is an easy way to show off your unique collections.
You can find out more here: How do I explore the NFT Gallery?