Folks Finance, A Multifaceted DeFi Lending Hub, Joins Chainlink BUILD
We’re excited to announce that Folks Finance is officially joining the Chainlink BUILD program. As a part of BUILD, we aim to accelerate ecosystem growth and long-term adoption of our DeFi hub by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support, as well as incentivizing greater cryptoeconomic security in exchange for a commitment to provide network fees and other benefits to the Chainlink community and service providers, including stakers.
Our participation in BUILD furthers our integration with Chainlink, with added benefits of priority support from the Chainlink ecosystem, increased access to dApps needing lending/borrowing services, and stronger incentive alignment between the Chainlink and Folks Finance communities.
We’re confident that through enhanced support, secure off-chain services, and the backing of Chainlink’s vibrant community, we can accelerate awareness of Folks Finance and realize the adoption of our lending, borrowing, and trading platform.
Folks Finance: Expanding Access To Advanced DeFi Strategies
Folks Finance’s mission is to provide everyone from beginner to advanced users with a seamless and dynamic platform to lend, borrow, trade, and manage digital assets, all under one roof. Users can deposit assets to accumulate yield, take loans by providing collateral, swap assets via Folks Router, and participate in Algorand Governance through gALGO and xALGO assets.
Why We Joined Chainlink BUILD
Folks Finance joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides. As part of BUILD, Folks Finance will receive key benefits, including access to and integration of Automation, Price Feeds, and other Chainlink Web3 services, access to new Chainlink product alpha and beta releases, among other benefits.
In exchange for these services, Folks Finance will make 3% of its native token supply available to Chainlink service providers, including stakers, over time. These mutually aligned economic incentives enable both communities to support one another.
“We’re excited to join Chainlink BUILD to gain access to industry-standard oracle services, technical support, and a robust cryptoeconomic model that empowers us to build a DeFi hub with greater security assurances. We look forward to continuing our collaboration together and we welcome the passionate Chainlink community into the Folks Finance ecosystem.” — Benedetto Biondi, CEO of Folks Finance
Chainlink is the industry-standard Web3 services platform and has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
About Folks Finance
Folks Finance is a leading DeFi platform providing innovative tools for lending, borrowing, trading and managing digital assets, all in one place. Folks Finance streamlines the DeFi experience with a UI and UX competitive to centralized exchanges, all while running on permissionless smart contract technology.