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  • Welcome to Folks Finance official documentation!
  • Getting started
  • HOW TO
    • Deposit
    • Lock & Earn
    • fStaking
    • Withdraw
    • Borrow
    • Rebalance
    • Repay
    • Rewards aggregator
    • Algo Liquid Governance
      • Algo Liquid Governance - G3
  • User profile
    • Dashboard
    • History
    • Notifier
  • Developer
    • Contracts
    • Official SDKs
  • Protocol architecture
    • Overview
      • Liquidity pool dynamics
      • Interest rates model
      • Interest accrual
      • Deposit
      • Withdraw
      • Borrow
      • Slippage
      • Liquidation
      • Algo Liquid Governance
      • Incentive system
      • fStaking
      • Token types
  • Security
    • Audits
    • Bug bounty
  • Support
    • FAQ
    • Glossary
    • Fees
  • helpful guides
    • Creating a My Algo Wallet
    • Buying Algo using FIAT - CEXs guide
    • Buying Algo with FIAT - Pera wallet/MyAlgo wallet guide
    • Allowing pop-up
    • Folks Finance's Testnet
  • Community
    • What can I do with gALGO?
    • Aeneas liquidity program
    • Contact
    • Community treasury
    • FOLKS
  • Legal
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
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  • Tokenomics
  • Governance
  • How can I use FOLKS?

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  1. Community

FOLKS

FOLKS is Folks Finance's governance and main utility token.

FOLKS is not live yet. Be aware of scams!

Tokenomics

The total FOLKS supply is capped at 50,000,000 tokens, and more than 50% of them will be distributed to the community. The FOLKS tokenomics is still being designed.

Governance

The FOLKS token will enable holders to collaborate as governors of the protocol, allowing them to vote and make proposals.

How can I use FOLKS?

  • As collateral to borrow against it,

  • As a rewarding medium for participation in different features and activities of Folks Finance,

  • To participate in some of Folks Finance platform's governance and related smart contracts parameters settings,

  • It can be "staked" or locked into different smart contracts within Folks Finance or also other DeFi platforms, rewarding the user for this action with more FOLKS or even various other digital tokens,

  • As a guarantee of benefits in the protocol.

All use cases of FOLKS are being studied, all possibilities can be modified or eliminated, and more could be added.

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Last updated 2 years ago

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