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Folks Finance (FOLKS)

Last updated: Feb 21, 2023

Folks Finance is the leading protocol serving capital markets, built on the Algorand blockchain. The protocol offers services of borrowing and lending in a decentralized and permissionless way. Through the lending operations, Folks users can lend their crypto-asset liquidity, and start earning a passive, economic return on their assets immediately. Through the borrowing operations, the users can request crypto loans by locking deposited funds as collateral.

Seed Round: $3M

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Overview

Project industry	Crowdfunding & Lending
Product type	Protocol
Founded	Italy
Whitepaper	Open

What is Folks Finance

Folks Finance is the result of extensive research and engineering conducted by Blockchain Italia, a blockchain software house strongly focused on Algorand.

Folks Finance is a non-custodial DeFi protocol providing financial tools for digital assets. Smart-contract technology empowers Folks Finance to offer advanced strategies while eliminating risks of centralized interference.

Users can deposit assets to earn yield, as well as use their deposits as collateral for loans. Integration of the Deflex DEX aggregator enables native swaps on the protocol and composability with the other operations. Flash loans give developers the keys to deep liquidity.

Algo Liquid Governance provides the most efficient method of participating in Algorand Governance through gALGO, whose use cases continue to expand rapidly.