Yieldly.finance is currently the only up and running DeFi project on the Algorand blockchain. On Yieldly.finance, a person can stake their YLDY tokens and receive high interest rewards in both Algorand tokens and YLDY tokens. The rewards system that Yieldly uses is based on the Ampleforth Token Geyser. The main difference between how Yieldly is giving out rewards is that they are doing it slightly less frequently, with rewards coming out weekly instead of daily. 

Yieldly.finance also has a no-loss lottery that you can stake Algorand tokens into. You get one ticket per Algorand token staked. The more Algorand staked, the higher your chance to win the prize pool. The prize is based on the amount of Algorand that is staked to the pool and the rewards that those Algorand tokens produce. There can be up to ten lucky winners of the prize pool. The prize is in Algorand tokens and not YLDY tokens. You have a chance of winning the prize once per week. 

Yieldly also a cross-chain bridge that allows users of Ethereum to convert to Algorand and vice versa. This gives non-Algorand owners another way of quickly getting into this new DeFi project and the rest of the Algorand blockchain. 

Warning! This is not financial advice! Do your own due diligence before making the decision to invest!