Folks Finance is excited to have reached an important milestone, officially launching its Capital Markets Protocol for Lending and Borrowing on Algorand Testnet.
Today, it is your turn! We invite our community members to join the Testnet and contribute to the scaling of Algorand FutureFi.
Click here to enter the world of Folks Finance!
The Testnet allows testing the main functionalities of the protocol, in a fictitious and safe space, with trial funds, so you can understand the dynamics of our protocol without incurring any risk!
The only danger you will run into is to win an exclusive NFT from the Folksy Guys collection, which will be airdropped to the testers that complete the designed tasks! In fact, we have prepared a list of tasks to be carried out by the users to help us evaluate the functionalities and the different parameters of the protocol. Having an active community performing operations supervised by the team will ensure the on-chain verification of all the protocol simulations previously carried out off-chain.
The aim is to analyze the protocol from its simplest version, to its final version, before the Mainnet launch. Therefore, the protocol features, and the supported token, will be upgraded step by step, giving the team the time to evaluate each crypto pair’s safety parameters adequately.
A detailed Testnet guide can be found in our official documentation section. We have also included a FAQ section about the Testnet features. The team will support the users in the official community channels and socials for further information.
Vulnerabilities and bugs
The run of the protocol on Testnet is intended to assess the features and the protocol parameters. Not only that: during this period, the team wants to identify bugs in both frontend and smart contracts with the communities collaboration.
Bug identifiers will be rewarded based on the severity of the spoiled bug. The official bounty program will be communicated in future.
Frontend bugs can be communicated to the team through our discord channel.
We are working hard to make the protocol as secure as possible and increase its efficiency. We rely on third-party professionals such as cryptecon, Runtime Verification; three security audits and one economic review to ensure user safety.
We hope you will enjoy the Testnet! And, we remind you that this is just a taste of the bright future for Folks Finance!