What is Folks Finance (FOLKS)?

Folks Finance is a decentralized finance (DeFi) protocol providing users with cross-chain asset management tools. The platform offers lending, borrowing, staking, token swaps, leverage trading, and leverage liquid staking services.

The native FOLKS token has multiple uses:

• Tiered staking system

• Discounts on protocol fees

• Increased staking APY

• Higher Loan-to-Value (LTV) ratios for borrowing

• Governance participation

Team and Founders

• Founder & CEO: Benedetto Biondi

  • Mentor in Techstars Web3 and other accelerator programs

  • DeFi advisor at Climatecoin

  • Teaches “Economics and Law for Digital Assets” at the University of Florence

  • Forbes 30 Under 30 in Finance

Project Vision and Purpose

Folks Finance aims to make decentralized asset management simple, efficient, and accessible while offering cross-chain solutions in the DeFi ecosystem. Both technical and non-technical users can easily utilize its tools.

Investors and Partnerships

• Total Funding: $6.2M

• Leading Investors: Borderless Capital (Lead), Algorand Ventures, Mapleblock Capital, SOVO Ventures

• Other Investors: 2×17, Black Alpha Capital, Coinvision, DuckDao, Roham Gharegozlou (Angel)

• Technology & Ecosystem Partners: Chainlink CCIP, Wormhole, Circle CCTP, Pera, Pact, Tinyman, Humble

How the Protocol Works

• xChain App: Cross-chain hub-and-spoke architecture, providing fast, user-friendly liquidity access across multiple blockchains. Users can lend, borrow, or stake across different chains in one interface.

• Algorand App: Liquid staking, loan looping, DEX router

• Monad Testnet: Cross-chain borrowing and unified liquidity experience

Governance

FOLKS token holders participate in protocol governance, voting on strategic decisions and updates.

Roadmap

• 2023: Pera onramp, Lending Pools, xALGO BNB Chain launch, Chainlink CCIP, Folks Router, Ultraswap

• 2024: Cross-chain expansion, xChain app development, Linea, Polygon, Optimism, ZKsync integration

• 2025: Mobile app launch

Token Info

• Token Name: FOLKS

• Max Supply: 50,000,000 FOLKS

• TGE Unlock: 12,700,475 FOLKS (25.4%)

Token Distribution

• Community — 35%

• Ecosystem Growth — 24.73%

• Seed Supporters — 21.83%

• Strategic Supporters — 4.94%

• Core Contributors — 10%

• Advisors — 3.5%

Ecosystem & Features

• Supported Networks: Avalanche, Base, Ethereum, Arbitrum, BNB Chain

• Cross-Chain Support: Borrowing and lending across multiple blockchains

• Liquidity & Staking: APY increases with FOLKS token

• Leverage Trading: Leverage trading and leverage liquid staking

• Community-Focused: Airdrops and user incentives encourage adoption

• Sustainable Growth: Token distribution and vesting ensure long-term growth

Official Links

• Website
• Twitter
• Telegram
• Discord

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