FOLKS

FOLKS Price

About FOLKS (folks)

FOLKS is a multichain decentralized finance protocol designed to unify liquidity and asset management across multiple blockchain networks.

• Users can lend, borrow, and stake digital assets natively across ecosystems without the need for traditional bridging or wrapping.
• The protocol utilizes a hub-and-spoke architecture to minimize liquidity fragmentation and simplify cross-chain interactions.
• Security is prioritized through extensive audits by industry experts and an ongoing bug bounty program.

What Is FOLKS

Folks Finance is a comprehensive capital markets protocol that originally launched as the primary decentralized finance (DeFi) application on Algorand before expanding into a multichain hub. It provides a suite of permissionless tools that allow users to manage their digital assets with high capital efficiency. The platform enables users to supply assets to earn rewards and use those supplied assets as collateral to borrow other cryptocurrencies.

The protocol facilitates value movement by creating unified liquidity pools that can be accessed from various "spoke" chains. This means that instead of liquidity being split across different networks, it is consolidated, allowing for better rates and deeper markets. The FOLKS token serves as the coordinating layer of this system, aligning the interests of users, governors, and the protocol itself.

As the ecosystem grows, the protocol scales by integrating new blockchain networks as spokes to its central hub. This expansion allows users to maintain a single account while interacting with a vast array of assets and protocols across the broader blockchain landscape.

What Makes FOLKS Unique

• Hub-and-Spoke Architecture: Unlike traditional protocols that deploy separate instances on each chain, Folks Finance uses a centralized hub (Avalanche) to manage unified liquidity for its spokes.
• Native Multichain Assets: By utilizing the Wormhole Native Token Transfer (NTT) standard, the FOLKS token exists natively on multiple chains without synthetic or wrapped copies.
• Interoperability Integration: The protocol leverages industry-leading technologies including Chainlink CCIP, Circle CCTP, and Wormhole messaging to ensure secure and seamless cross-chain operations.
• Cross-chain Collateralization: Users can provide collateral on one network and borrow assets on another, effectively bridging value without moving the underlying assets.

What Can You Use FOLKS for?

• Lending and Borrowing: Supply assets to liquidity pools to earn protocol service fees or provide collateral to borrow other digital assets for various strategies.
• Liquid Staking: Access liquid staking tokens (LSTs) such as gMON or sMON, allowing users to earn staking rewards while keeping their capital liquid for use in other DeFi applications.
• Looping Strategies: Utilize automated looping tools to amplify exposure to specific assets or yields by recursively borrowing and supplying the same asset.
• Cross-chain Asset Transfers: Use the xPortal tool to transfer FOLKS and other supported NTT tokens across different blockchains quickly and securely.
• Governance Participation: Holders of the FOLKS token can participate in the protocol's decision-making process by reviewing and voting on governance proposals.

How Does FOLKS Work?

Folks Finance operates through a series of autonomous smart contracts deployed across several public blockchains. The system's technical core is its hub-and-spoke model, where a primary "Hub Chain" (currently Avalanche) manages the global state and liquidity pools, while "Spoke Chains" (such as Ethereum, Base, and BNB Chain) serve as entry points for users.

When a user interacts with a spoke, the protocol uses cross-chain messaging layers to communicate with the hub. This architecture abstracts the complexity of bridging, as the smart contracts handle the movement of data and value behind the scenes. Transactions within the protocol incur protocol service fees, which are used to incentivize liquidity providers and maintain the system's infrastructure. The protocol's safety is managed through overcollateralization and a liquidation mechanism that triggers if a borrower's health factor—a metric representing the ratio of collateral to debt—falls below a predefined threshold.

Team Info and Investors

The development of the Folks Finance protocol is fostered by the Folks Finance Private Foundation, a non-profit organization. The protocol's core software and graphical interfaces are maintained by BlockBox LLC, a software development provider. The project has secured significant early backing from prominent venture capital firms, including Borderless Capital, ParaFi Capital, Jump Crypto, and Coinbase Ventures. To ensure institutional-grade security, the protocol's smart contracts have undergone rigorous audits by firms such as Runtime Verification, Certik, Trail of Bits, and Coinspect.

Where can you buy FOLKS?

FOLKS tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade FOLKS is MEXC, where the most active trading pair FOLKS/USDT has a trading volume of $144,872.94 in the last 24 hours. Other popular options include KuCoin and Pancakeswap Infinity CLMM (BSC).

What is the daily trading volume of FOLKS (FOLKS)?

The trading volume of FOLKS (FOLKS) is $901,994.71 in the last 24 hours, representing a 6.90% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for FOLKS (FOLKS)?

FOLKS (FOLKS) reached an all-time high of $48.86 and an all-time low of $0.8404. It’s now trading -95.30% below that peak and 174.00% above its lowest price.

What is the market cap of FOLKS (FOLKS)?

Market capitalization of FOLKS (FOLKS) is $41,428,218 and is ranked #552 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FOLKS tokens (18 Million tokens are tradable on the market today).

What is the fully diluted valuation of FOLKS (FOLKS)?

The fully diluted valuation (FDV) of FOLKS (FOLKS) is $115,173,664. This is a statistical representation of the maximum market cap, assuming the maximum number of 50 Million FOLKS tokens are in circulation today. Depending on how the emission schedule of FOLKS tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of FOLKS compare against its peers?

With a price decline of -4.60% in the last 7 days, FOLKS (FOLKS) is underperforming the global cryptocurrency market which is down -1.90%, while underperforming when compared to similar Base Native cryptocurrencies which are down -1.70%.

How to add FOLKS (FOLKS) to MetaMask?

Adding FOLKS (FOLKS) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import FOLKS as a token. You can copy FOLKS’s contract address (0xff7f8f301f7a706e3cfd3d2275f5dc0b9ee8009b) and import it manually, or if you've installed MetaMask's chrome extension, add FOLKS to MetaMask with one click on CoinGecko.

Add FOLKS to MetaMask.