(4 votes, average: 4.75 out of 5)
Loading...Folks Finance is a decentralized finance (DeFi) platform that offers a range of financial tools for managing digital assets. A community-driven decentralized platform providing permissionless DeFi tools across multiple networks.
Folks Finance is the largest DeFi app on Algorand, with an all-time-high of $220 Million in TVL reached earlier in 2024. Offering a full suite of DeFi tools, it’s a one-stop-shop for portfolio management. Deposit, borrow, and collect interest in the Lending Markets, keep your liquidity with Liquid Staking, get extra exposure with Ultraswap’s loan looping, and exchange assets at the best price with Folks Router, the in-house DEX aggregator.
They’ve Raised $3M From Borderless Capital, Jump Crypto, Coinbase Ventures, OKX Ventures, Algorand Foundation and others.
Folks Finance, just released their testnet, time for us hunters to explore it, and become eligible for a possible airdrop!
Step by Step Guide
Faucet
– Visit: https://faucets.chain.link
– Select The chain or tokens you want.
– Enter Your Metamask Address.
– Request Testnet Tokens
– Other Faucet Sites:
1. https://core.app/en/tools/testnet-faucet/?subnet=c&token=c
2. https://faucet.circle.com
Add RPC
– Visit Avalanche Fuji: https://chainlist.org/chain/43113
– Visit Base Sepolia: https://chainlist.org/chain/84532
– Connect Your MetaMask.
– Click on “Here” Button & Add the RPC’s.
Create Account
– Visit: https://testnet.xapp.folks.finance
– Connect Your Metamask.
– Go to your profile.
– Create an Account on any chain.
Deposit & Withdraw
– Go to “Deposit” tab.
– Deposit some of your tokens.
– Then Withdraw Some tokens.
Loans
– Go to “Loans” tab.
– Create a new Loan.
– Click on “Manage” Button.
– Add Some Collateral.
– Borrow any tokens against your Collateral.
Galxe Tasks
– Link: https://app.galxe.com/quest/FolksFinance/GCaYZtkHnQ
– Complete All Tasks.
– Claim Your OATs.
Community
Make sure to join their discord channel.
Join here: https://discord.com/invite/folksfinance
By staying active in their community, you get updates about new activities & features!
That’s all for now. We hope you find value in this guide.
Share this information with your friends on X or Tokenhunters Social and become eligible together! Make sure to follow us on twitter and hit that notification button!
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