what's folks finance?
Folks Finance is a decentralized finance (DeFi) protocol built initially on the Algorand blockchain, enabling users to lend, borrow, trade, and manage digital assets in a unified platform. It operates as a capital markets protocol where users can deposit liquidity to earn yields or borrow against collateral, with mechanisms for risk management and efficient capital utilization. The protocol leverages smart contracts to facilitate seamless interactions, starting with Algorand's fast and low-cost transactions, and has expanded to support crosschain functionality. Through integrations with technologies like Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Wormhole's Native Token Transfers (NTT), Folks Finance allows deposits on one chain to serve as collateral for borrowing on another, reducing fragmentation and enhancing liquidity across ecosystems such as Avalanche and Polygon. The native $FOLKS token provides utility for governance, incentives, and fee discounts, fostering community alignment in protocol decisions and operations.
Folks Finance has an ongoing $25,000 audit competition for Staking Contracts, ending March 17.
contract
avalanche
ethereum
arbitrum-one
polygon-zkevm
base
binance-smart-chain
sei-v2
algorand
Audit competition for Staking Contracts is ongoing with a $25,000 reward pool, covering 365 nSLOC of Solidity code, and ending on 2026-03-17.
A newly created wallet receives 377 AVAX from Coinbase and immediately sweeps most of the listed Folks Finance NFTs in a pattern consistent with potential insider accumulation.
Token launched at under $4 over a month ago and currently trades at $24, representing a 6x increase. Project is part of Chainlink build program.
Season 2 airdrop is now active following Season 1's distribution of 1.5M FOLKS (~$40M), and token achieves #2 lending protocol ranking behind Aave.
Offers exclusive limited-time signup bonus for Nansen Point holders, with rewards based on user tier levels.
Experiences 43.8% seven-day price decline with high volatility, market cap at ~$347M.
Consistently ranks Top 3 in perpetual futures volumes across major exchanges. Backed by Coinbase Ventures and Jump Crypto.
FDV reaches $1.3 billion and TVL approaches $100M.
xChain V2 launch teased, introducing cross-chain vault-based DeFi loans.
FDV exceeds 1 billion, up from the previously reported 800m.
Official announcement launches for new EVM liquid staking token with automated strategy vaults and institutional grade staking partners. Platform surpasses 1M+ native crosschain transfers using Wormhole NTT technology.
Folks Mobile early access launches, advancing beyond the previously announced 2026 go-live timeline. The project reaches 800m FDV during its rally.
Token unlocks are scheduled to occur soon.
The team hints at launching a new liquid staking token product.
The token hits an all-time high price.
Bybit Futures listing goes live for $FOLKS. Airaa creator campaign launches with over $500k in rewards available.
Folks Mobile announces 2026 go-live date for its DeFi mobile app.
TVL increased from $92M to $100M this week and FDV reached nearly $850 million.
xChain V2 protocol upgrade announced as coming soon, featuring cross-chain lending without bridges, non-EVM chain expansion, and unified liquidity lending architecture across multiple chains.
Season 1 distributed 1.5M $FOLKS to 5,770 users with ~300 tokens average per wallet. Season 2 shifts to incentivizing protocol revenue drivers including interest repayments, swaps, and flash loans.
Early access waitlist for Folks Mobile opens to users, with the app built using a licensed VASP partner for regulatory compliance. Token ranks as Top 3 lending protocol by FDV behind Aave and Morpho, with 30% APR staking available on KuCoin and Kaizen Finance.
$FOLKS lists on Bybit Futures and reaches all-time high price breakout. Fully regulated mobile app announced as next product release.
Avalanche chain stablefarming incentives live, token available on MEXC exchange.
Lending protocol deployment confirmed on Sei Network as part of the chain's liquidity infrastructure.
Offers 30% APR staking and launches $500k+ creator campaign. New Earn quest goes live on Flipside AI for MatixX pool deposits on Polygon.
Folks Points Season 2 launches today with additional updates planned for this week. Previous community airdrop distributed to 5,770 users averaging 300 FOLKS per user.
AIRAA campaign confirms an additional 25,000 $FOLKS tokens ($300k value) based on TVL milestones, expanding total potential rewards beyond the previously reported $200k campaign to $450k total including the current 12,500 $FOLKS prize pool.
Runs $200K rewards campaign on AIRAA platform featuring leaderboards and usage multipliers.
Reaches $1.5m TVL on Monad deployment, ranking #9 among top protocols by total value locked with 12.24% yields on USDT0 lending market.
Cross-chain lending on Monad deployment reaches 17500% APY according to market report dated November 27.
Seven markets go live on Monad deployment including MON, AUSD, USDT0, wBTC, wETH, sMON and shMON. A 5000 $FOLKS depositor incentive program launches for users.
Platform launches on Monad Mainnet during the network's second day of operation.
Listed as ecosystem partner for Monad alongside PancakeSwap, Enso, Wormhole, and GoPlus as part of Monad's launch ecosystem.
Price increases 50% while broader crypto markets decline.
Aira board leaderboard launches publicly, tracking on-chain activity alongside Discord and X contributions in its scoring system.
The Wormhole NTT on Algorand Audit Competition concludes with the full $30K reward pool distributed to security researchers across five winners.
Token Generation Event completes with 50M total supply and approximately 12M tokens entering circulation at launch.
Integration with CoinStats platform enables tracking of deposits and open positions alongside full portfolio.
FOLKS token launches on Binance Wallet (Keyless) via BSC chain with an Alpha Account trial offering rewards on a first-come, first-served basis.
Folks Finance participates in Chainlink Rewards Season 1 as one of 9 Build projects, enabling eligible LINK stakers to claim FOLKS tokens through a Cube allocation system. Allocation period ends December 9, 2025, with token claims beginning December 16, 2025 and unlocking over 90 days.
Week 8 of the Algoland campaign with Algorand Foundation goes live, featuring "Bridging Week" where users bridge FOLKS tokens to Algorand for rewards including a collector's chess set and grandmaster lesson.
HTX exchange runs a $FOLKS Futures Contest with $10,000 prize pool ending November 14th.
Token has 50M total supply with 12M circulating supply, and price spiked to almost $9 following the TGE.
$50,000 in FOLKS tokens distributed as airdrop rewards to users who deposited during the Zerion quest campaign on Base chain.
The project had a campaign on Airaa Agent platform.
Token Generation Event (TGE) launches at 2pm UTC on centralized exchanges.
FOLKS goes live on BNB Chain with liquidity powered by Arrakis Pro on PancakeSwap.
FOLKS token becomes natively multichain through Wormhole NTT integration, enabling transfers across Avalanche, Arbitrum, Base, BNB Chain, Ethereum, Polygon, and Sei Network.
Trading for FOLKS token launches on Kraken exchange.
Gate Futures and Perp DEX list FLOKS/USDT trading pair on November 6 at 12:30 PM UTC with up to 20x leverage.
Project bought back investor allocations to increase community token distribution, as explained by Benedetto Biondi regarding tokenomics structure.
Airdrop checker goes live on the official site for allocation checks. VCs and team tokens locked for 1 year with initial float at 25.4% from community and ecosystem allocation.
TGE expected to occur by the end of 2025.
Official Binance listing scheduled for November 6, 2025, with backing from Coinbase Ventures, OKX Ventures, Jump Crypto, and Parafi.
Token distribution allocates over 50% of total supply to community and ecosystem.
Trading goes live on Kraken on November 6.
Binance launches Futures trading on November 6 at 12:30 UTC, with Alpha trading starting at 12:00 UTC.
Binance Alpha will feature the token on November 6, with eligible users able to claim airdrops using Binance Alpha Points once trading opens.
Airdrop distribution is live with the checker now open for eligible users to claim tokens.
Community Drop now active with eligibility check available for participants.
Platform reaches $400M+ TVL across chains.
Jump Capital confirmed as backer in the $6.2M funding round alongside previously reported Coinbase Ventures.
Platform now leverages Chainlink CCIP on Monad blockchain for multi-chain lending positions.
Will launch on Monad blockchain on Day 1, aligned with November 6th token generation event.
Platform reports 200K+ total users with 35K+ monthly active users, and $6.2M in total funding raised.
Coinbase Ventures confirmed as backer, and project runs campaign on Airaa Agent with 0.1% of tokens allocated to the campaign.
Platform now runs on 9 chains (up from 8), with airdrop and token launch both set for November 6th.
Platform TVL hits $400M+ all-time high, up from $200M+ reported on October 21st, reached a couple of months after xChain launch.
Folks Finance becomes new customer of Immunefi Magnus security service.
Protocol reports $200M TVL with 200K+ users across 8 connected chains ahead of November 6 token launch.
Project participates in Chainlink BUILD program, using Chainlink technology to secure cross-chain DeFi ecosystem.
ParaFi confirmed as backer and project built with Circle, Chainlink, and Wormhole infrastructure.
Token launches on November 6th.
Launches multichain solution using Wormhole's NTT standard in collaboration with Algorand and Wormhole, enabling native token movement across EVM and non-EVM chains without wrapped versions.
Audit competition goes live with $30,000 rewards for finding bugs in Wormhole NTT implementation on Algorand, runs until October 27, 2025, no KYC required.
Active dual airdrop campaign launches requiring Polygon bridge transaction and minimum $10 deposit to earn native token and $OBT rewards.
Integrates $USDe and $sUSDe on Avalanche, enabling new deposit, collateral, and cross-chain borrowing functionality.
Finishes audit competition with full $30K payout to participants, strengthening platform security.
TVL increases to $200M+ with 35K+ monthly active users across 9 chains, backed by Coinbase Ventures, Jump, ParaFi, and OKX. $FOLKS token confirmed with points system for supply and borrow interactions, snapshot not yet taken.
New Zerion rewards campaign launches with $20,000 FOLKS prize pool, attracting 800+ participating wallets
Cross-chain SHIB lending market goes live with deposit incentives using Chainlink CCIP technology.
$6M raised from Coinbase Ventures and OKX; crosschain lending protocol operational with Chainlink integration ahead of token launch.
Unannounced airdrop planned with current TVL at $150M
New wstETH/ETH looping strategy attracts $4M+ in TVL
First lending market for ATH token goes live, expanding DeFi capabilities.
New staked Sei looping feature enables additional yield strategies.
Integrates with Monad blockchain as official ecosystem partner
Cross-chain DeFi platform launches on Sei network alongside native USDC integration.
New yield farming strategy offers 20% APY with 8x Points multiplier through stAVAX-AVAX looping mechanism.
Gold Founders Pass mint launches July 17 on Magic Eden Avax with 600 supply; backed by $6M funding from Coinbase Ventures and others.
NFT mint reaches 92% sold out with less than hour remaining.
1,500 Silver Passes minting on Magic Eden with $FOLKS TGE planned this month; Pass holders eligible for future airdrops.
New smart contract audit competition launches July 7th with $30,000 prize pool, featuring first-ever Immunefi All Star rewards.
Extensive DeFi ecosystem emerging on testnet with 20+ protocols across DEX, lending, and derivatives segments planning airdrops.
Algorand achieves native multichain capability through Wormhole NTT integration, built by Folks Finance.
New liquid staking token $gMON launches, enabling access to 27+ DeFi protocols and collateralized lending while earning staking rewards and ecosystem points.
New USDT0 integration launched with PT-iUSD offering 10.89% fixed APY.
Platform achieves 240K transactions and $3.2M deposits with 1.5K users in one week.
Integration with Chainlink CCIP enables cross-chain liquidity functionality.
Valued over $75M with Algo Foundation investment. Potential airdrop for 2025 through staking ALGO.