Folks Finance Expands Crosschain Lending Hub with Arbitrum Integration
Folks Finance is proud to officially integrate the Arbitrum network into its xChain lending protocol and DeFi suite. Arbitrum users can now deposit and borrow on Arbitrum and other integrated networks from a single account.
With the addition of Arbitrum, Folks’ users can enjoy efficient transactions and low fees, expanding their opportunities for lending, borrowing, and trading. Arbitrum’s large, active DeFi user base will enjoy significant benefits using Folks Finance’s accessible, efficient, and user-friendly tools.
Your DeFi Home
Folks’ xApp puts bridging and gas fees in the background. It’s built for those who enjoy making the most of opportunities across the entire crypto ecosystem, and need to access different chains quickly and easily.
Imagine you hold assets in multiple ecosystems, but an opportunity for you appears on Arbitrum. You need to collateralize some funds to borrow USDC — what do you do? You could bridge the funds from every other chain to Arbitrum, spending a lot of time while paying a lot of fees.
Or you could use Folks. Simply deposit from any chain and borrow on Arbitrum, effortlessly.
Testnet is currently live at testnet.xapp.folks.finance
Try the testnet and get rewarded. Complete the Subway Riders Galxe Quests for prizes and recognition: https://app.galxe.com/quest/FolksFinance/GCaYZtkHnQ
To learn more, please visit https://folks.finance
About Folks Finance
Folks Finance is a pioneering DeFi platform that offers cross-chain lending, borrowing, staking and trading. With a focus on security, efficiency, and user empowerment, Folks Finance delivers a user experience akin to centralized exchanges, setting a new standard for the DeFi applications.
About The Arbitrum Foundation
The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum.
Arbitrum One
Arbitrum One — a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs — offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.
