$200k in AVAX Incentives for new Crosschain Lending Markets on Folks Finance

November 19th, 2024

Folks Finance has received a grant of 7485 AVAX from the Avalanche Foundation, worth around $200,000 at the time of receipt, to incentivize deposits in the new crosschain lending markets. The incentives will be applied strategically to boost yields on Avalanche-native assets in Folks xChain app.

Boost Your Yield with Avalanche-Based Assets

The markets set to receive incentives are:

• USDC
• AVAX
• solvBTC
• BTC.b
• WETH.e

Click here for a detailed spreadsheet of Folks’ incentive distribution plans. This document is living and may be adjusted based on how the different markets react to the incentives.

With this grant, users can maximize their DeFi potential across chains on Folks xChain, collecting AVAX rewards when they deposit key Avalanche assets. On Folks, you can unify addresses on different chains under one account. This lets you deposit or collateralize on any connected chain, and borrow on any connected chain, without needing to bridge or wrap the assets.

The AVAX grant will spark further crosschain lending with enhanced yield on Folks’ unique platform.

AVAX rewards can be manually claimed at the end of each weekly epoch.

Earn Folks Points Alongside AVAX Rewards

In addition to AVAX rewards, users can earn Folks Points for engaging with Avalanche assets within xChain markets. These points not only reward individual contributions but also recognize active engagement with the protocol. Folks Points give users recognition for their role in the protocol’s growth. Active participation will maximize your points potential.

Points are able to be collected through social tasks and in-app actions. Find more information on the Account Page of xChain.

Join the xChain Ecosystem and Maximize Your Rewards

Unify your portfolio, strengthen your positions, and be early to something new in this ever-changing DeFi world.

Unlock the value of your Avalanche assets for crosschain strategy.

Start collecting extra AVAX rewards today!

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Folks Finance offers crosschain lending, borrowing, staking, and trading across elite blockchains. By combining traditional finance’s security and optionality with the transparency and decentralization of DeFi, Folks Finance continues to pave the way for a truly global onchain economy.

Keep an eye out for updates on xChain, incentive programs, and more by following Folks on socials: linktr.ee/FolksFinance.