DorkFi runs a lending market where each Algorand asset is its own pool
DorkFi is a live lending market on Algorand mainnet: supply for a variable rate, or post collateral and borrow, or mint its WAD dollar-targeting coin. One wallet can replace the pools' code; check the collateral factor before you supply at app.dork.fi.
DorkFi is a lending market on Algorand mainnet. Supply an asset and it earns a variable rate that rises as borrowers take more of it. Post assets as collateral and borrow against them instead of selling. It also mints its own dollar-targeting token, WAD, against that collateral. The protocol's documentation1 says Tinyman LP tokens can be supplied as collateral on Pool C, and describes WAD as minted through borrowing against collateral.
The market is live at app.dork.fi2. Its table lists ALGO, USDC, UNIT, FOLKS, tALGO, goBTC, goETH, COOP, FINITE and WAD, each with a collateral factor, a supply rate, a borrow rate and a utilization figure.
What it does differently
Each asset sits in its own market with its own parameters and interest-rate curve. A position that falls below its health threshold can be liquidated using collateral from other markets. A Tinyman LP position can also serve as collateral on Pool C, so a liquidity provider keeps earning swap fees while borrowing against it.
There is an agent toolkit too. Its read-only skills — view markets, view portfolio, health factor, yield, liquidation monitoring — work today. Its write skills hand back unsigned transactions for something else to sign, and the repository states it holds no private keys and neither signs nor broadcasts.
Trying it
Go to app.dork.fi2 and connect an Algorand wallet; the menu offers WalletConnect and Pera. Pick a market, then Supply, Borrow, or Mint on the WAD row. Until a wallet is attached, the Mint dialog reads 'Connect wallet to see USD value'.
Its pages state no fee schedule and no minimum deposit; what borrowing costs is that market's variable rate. Returns are variable, as the site says twice, and a borrower whose collateral falls far enough loses it to a liquidation.
Where the money actually sits
Deposits do not sit in the contract that sets the rules. Each market has its own contract account holding only that market's asset: the USDC market's account held about 18,430 USDC on November 4, 2026, and that contract has taken no update or delete call in its full history.
That separation is the design's clearest safeguard. One market's deposits are not a line item inside a pot that every depositor has a claim on. It is not full isolation, though: the pool above still sets the parameters, liquidations reach across markets, and that pool's own code can be replaced. Whether the market contracts' programs refuse an upgrade is not established.
The dollar coin
WAD is meant to be worth a dollar; the site calls it 'a stable digital asset designed to target a $13 value'. Tinyman's listing put it at $0.95264 on November 4, 2026, on about $6,8755 of liquidity and $69.556 of 24-hour volume. Pact shows no live pool for it. The app's WAD row displayed about 15,9307 of it, while the token contract's own counter decodes to about 15,7908. Read the row as a display and the contract as the record. Freeze can stop a holder moving WAD and clawback can move it out of any account. Both are held by the WAD contract's own account rather than a person's key.
Who can change the rules
Both lending pools and the WAD contract answer to one key: an ordinary single-signature wallet, with no multisig behind it. All three let their code be replaced, and all three name that wallet as the account allowed to do it. It replaced the Prime pool's program ten times between December 2, 2025 and April 26, 2026. DorkFi's repository says UNIT governs all protocol parameters on-chain, including asset listings and interest-rate curves, but no vote on the record replaces a pool's code.
A depositor also cannot check the repairs. Entersoft Singapore reviewed the lending pool9, reporting on November 7, 2025 over a single file with external contracts and oracles out of scope. It marks as closed four critical findings: an owner-set price oracle, an incorrect burn address in repay, a redeem accounting bypass and an unrestricted pause. Its own table still lists two Medium and one Informational finding as identified. With no remediation file and no public repository for the audited code, the fixes cannot be read.
How big it is
DeFiLlama put DorkFi at about $172,100 on Algorand and about $253,200 across all chains on November 4, 2026. Folks Finance10, the like-for-like alternative a reader would pick instead, sits at about $47.4 million on Algorand and about $51 million across chains on the same source. It runs lending, liquid staking, a DEX router and a cross-chain account.
DorkFi is used, at a size to match. The Prime pool has taken 10,08411 app calls from 110 distinct addresses since November 20, 2025, including 998 in the last 30 days; the second pool took 4,05412 calls from 72 addresses. Calls are not people and not dollars.
Who is behind it
No person is named on the site, in the documentation, in the audit or in the repositories. The public identity is the handle @dork_fi13, a Discord, and a GitHub organization with seven public repositories. In its listing in Circle's alliance directory14, the company describes itself as Dork Labs and says it builds 'decentralized credit markets and treasury infrastructure15'.
No dated launch announcement was found. The chain gives bounds: the wallet that deployed the deposit-holding market contracts was created on June 17, 2025, and the one that owns the pools and WAD on November 20, 2025.
For anyone deciding whether to supply: the market is live, deposits sit in their own market contracts, and the parameters above them can be changed by one wallet. Read the collateral factor on the row you supply to before you deposit.
All four roles sit on one contract account, and that contract can itself be replaced by its creator
- WAD (Whale Asset Dollar) (asset).
- Creator: WAD token contract (app 3333688448) (Active).
- Manager: WAD token contract (app 3333688448) (Active).
- Can: Mint or burn WAD, and reassign these roles.
- Reserve: WAD token contract (app 3333688448) (Active).
- Can: Names where unissued supply sits; no power over holders.
- Freeze: WAD token contract (app 3333688448) (Active).
- Can: Freeze or unfreeze any holder's WAD.
- Clawback: WAD token contract (app 3333688448) (Active).
- Can: Move WAD out of any account.
10 figures in this story are checked. 5 were read straight from the chain.See every check