Folks Finance is a capital markets protocol for lending and borrowing built and operated on top of the Algorand blockchain. Through the lending operations, Folks users can deposit liquidity and start earning a continuous economic return instantly. Through the borrowing operation, users can request crypto loans by locking deposited funds as collateral. The name Folks Finance is inspired by the mission to open decentralized financial services to the masses, welcoming all sizes of wallets, opening the protocol to global accessibility. The protocol’s friendly and straightforward user interface allows non-crypto experts to benefit from the DeFi high yield, shaping a new era of financial services.
Folks Finance has chosen Algorand for building a decentralized money market protocol aiming to provide secure and profitable financial services to all types of users. The protocol takes advantage of fixed, low-cost, and high-speed Algorand transactions being one of the sector's most efficient and competitive protocols. By leveraging the AVM (Algorand Virtual Machine), Folks Finance creates a financial business model that can ensure the economic viability of the protocol, involving siloed money market liquidity pools, risk-adjusted credit, health factors, and a robust incentive system.