Rewards aggregator
When the users receive frToken, they can trade them on the rewards aggregator.
Last updated
When the users receive frToken, they can trade them on the rewards aggregator.
Last updated
When the user repays the borrow interest or deposits liquidity through the Lock & Earn operation, they receive an amount of frToken (e.g. frALGO). The tokens received should be exchanged through the Rewards Aggregator. The users can choose between instantly exchanging the frToken at a specific rate or exchanging them at a more convenient rate by agreeing to vest the rewards for a specified duration.
The list of available with which to exchange frTokens will be constantly evolving as they are provided by Folks Finance and/or third parties that wish to distribute them through Folks Finance.
Click on the Rewards Aggregator button in the navigation bar of the web app.
From the Available to Trade section select which type of frToken to trade.
Select Instant.
Type in or use the slide bar to specify the amount you would like to trade.
Click on the Claim Rewards button.
If you have never held one or more of the reward tokens, you will be asked to opt-in them. Thus, click on Opt-in.
Click on Exchange.
You will receive a message indicating success if the process has been completed properly.
If you are using Pera Wallet, please, remember to confirm the operations from your smartphone.
Click on the Rewards Aggregator button in the navigation bar of the web app.
From the Available to Trade section select which type of frToken to trade.
Select the staking period.
Type in or use the slide bar to specify the amount you would like to stake.
Click on stake rewards.
Click on Exchange.
You will receive a message indicating success if the process has been completed properly.
If you are using Pera Wallet, please, remember to confirm the operations from your smartphone.
The users can withdraw the rewards in two ways:
At any time, by withdrawing the accumulated rewards tokens - partial claim
At the end of the period, by performing a total withdrawal of the distributed rewards.
Click on the Rewards Aggregator button in the navigation bar of the web app.
From the My Staked Rewards section select the rewards you would like to claim.
A special modal with the rewards info appears, click on the Claim button.
If you have never held the reward tokens, you will be asked to opt-in them. Thus, click on Opt-in.
Confirm the operation.
If you are using Pera Wallet, please, remember to confirm the operations from your smartphone.
The folks rewards token or frToken, is the asset distributed to users for performing operations on Folks Finance. frToken is instrumental to the system's operations, and the protocol itself mints them. They are distributed when users repay their loans' interests, or provide liquidity through Lock & Earn. These tokens can be traded with the rewards token through the rewards aggregator.
Rewards providers are external protocols/partners or Folks Finance itself (issuing rewards in the form of its governance token), that wish to distribute rewards on a specific protocol pool for Lock & Earn deposits, and interest repayments. Any party approved by Folks Finance can act as a provider and distribute tokens as rewards.
Let's see an example:
Protocol A decided to distribute its token named AToken, as a reward for those users who interact with the ALGO Pool.
Users who deposit ALGO in to Lock & Earn or repay interest on ALGO loans will receive frALGO.
Now the user can trade the frALGO with ATokens. They can choose whether make an instant swap and obtain the ATokens immediately, or lock the frALGO for a vesting period and obtain a larger amount of ATokens.
Reward tokens are selected and whitelisted on the basis of strict requirements in order to guarantee distribution of the best crypto-assets to users of Folks Finance. In the future, Folks Finance Governance will take on this decision.