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Folks Finance's Testnet

The users can try the Folks Finance functionality with trial funds and zero risks on Testnet.

Setup

  1. 1.
    Open the Testnet.
  2. 2.
    Folks Finance supports two wallets: - MyAlgoWallet (Desktop) - Pera Wallet (Mobile) - Defly - Fireblocks​
Open the links above to understand how to create the respective wallet.

How to configure Wallet for Testnet

MyAlgo Wallet
Pera Wallet

MyAlgo Wallet

Step 1. Switch to Testnet from the button on the top right of your Wallet
Step 2. Add Algo through Algorand Dispenser
  1. 1.
    Click on "I'm not a robot".
  2. 2.
    Paste your wallet address into the target address.
  3. 3.
    Click Dispense.
If you have performed all steps correctly you will receive within a few seconds 10 ALGO to use in the Testnet.

Pera Wallet

Step 1. Connect to Algorand Testnet
Step 2. Add Algo through the Algorand Dispenser
  1. 1.
    Click on "I'm not a robot".
  2. 2.
    Paste your wallet address into the target address.
  3. 3.
    Click Dispense.
If you have performed all steps correctly you will receive within a few seconds 10 ALGO to use in the Testnet.

How to get USDC, USDT, goBTC and goETH for Testnet

The dispensed tokens have no monetary value and should only be used to test the Folks Finance app. Please do not abuse the service by requesting more tokens than needed for testing.
Folks Finance has a USDC, USDT, goBTC and goETH faucet integrated into the web app, accessible from this link:
  1. 1.
    Connect the wallet.
  2. 2.
    Select the Faucet section.
  3. 3.
    From the drop-down menu, select the asset you want to obtain.
  4. 4.
    Complete the captcha verification.
  5. 5.
    Opt-in the asset, if required.
  6. 6.
    Submit the request.
If you are using Pera Wallet, please remember to confirm the operations from your smartphone.

How to get xUSD for Testnet

If you wish to mint xUSD in order to maximize all the Algorand ecosystem's potential, look at this xBacked official tutorial

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 Good-To-Know: What is an asset opt-in?

All of the tokens supported by the Folks Finance protocol are ASAs (Algorand Standard Assets). Thus, the opt-in operation is required before acquiring and utilizing them.
The Opt-in procedure has to be performed once per token if the asset has not previously been held in the wallet. However, Folks Finance will warn users if the opt-in procedure has not been performed, and support them through the opt-in process.
Once all of the requirements are fulfilled, you are ready to interact with the protocol and start earning interest.
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Last modified 3mo ago