Folks Finance’s Targeted DeFi Rewards Boost Distribution Plan for Algorand Governance 12

Folks Finance
2 min readMay 22, 2024

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The Algorand Foundation is continuing its Targeted DeFi Rewards initiative in Governance Period 12. Folks Finance is eligible to receive 1,562,500 million ALGO from the Algorand Targeted DeFi rewards program.

Rewards are intended to be allocated according to the following proposed distribution:

Note:

  • Some pools will have a higher allocation because they will be co-incentivised by our partners. 15,690 ALGOs were allocated from the retained allocation of the previous period.
  • Bridging Campaign: joint initiative with Tinyman to attract external liquidity in the form of wAssets, the program will be also gamified with the issuance of NFTs. Criteria and rules will be published in the future as they are still TBD.

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.

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Folks Finance

DeFi at its finest: lend, borrow, trade, and manage digital assets all in one place.