Folks Finance

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Lending and borrowing protocol with innovative features built on 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.



Designed for the stability of the protocol in the long term, Folks Finance has a unique incentive system that rewards only "good users" in a sustainable way. By virtue of our innovative Rewards Aggregator, the protocol enables external parties/protocols to incentivize specific pools of desired assets on Folks Finance. Therefore, the protocol is able to distribute multiple incentives while also simultaneously reducing the likelihood of an "Earn & Dump" reaction. The protocol also offers the opportunity for users to vest rewards, earning even more rewards while redeeming them slower


In order to ensure maximum safety and security for users, the protocol's source code has been audited three times. Moreover, the economic soundness of Folks Finance has also been extensively tested and vetted through a strategic partnership with a specialized company. Folks Finance has a unique way of defining a loan's parameters, wherein every crypto pair collateral and/or borrowable asset is tested and simulated before defining the relative threshold and parameters in an effort to ensure the lowest risks for users.


Following the environmentally-focused strategy of Algorand, which has received praise for being the greenest blockchain, Folks Finance collaborates with ClimateTrade, who is committed to buying the corresponding amount of carbon credits that allows Algorand and Folks Finance to offset each protocol's carbon footprint.


Folks Finance is finance for everyday "Folks". As such, Folks Finance has decided to distribute more than 50% of the total supply of its governance token: FOLKS, directly to the community.

Differences between the first ALGO Liquid Governance and the new one

  1. gALGO is now continuous. There will be a single gALGO asset, no longer connected to a single governance period (unlike gALGO3 which was only for the third governance period). Moreover, the new smart contracts are built to be flexible and adaptable to the future development of the Algorand Foundation governance through xGov.
  2. New voting system. The ALGO liquid governance will allow Folks Finance liquid governance users to vote on the Algorand Foundation proposals. Folks Finance will vote respecting its governors' choices proportionally.
  3. No Fees & Early Claim. The new Liquid Governance will not have any fees and will allow users to early claim their expected rewards in gALGO. Users will then be able to burn the gALGO rewards for ALGO as normal at the end of the governance period.