Folks Finance built on the Algorand, a cross-chain DeFi project focused on lending and borrowing has raised over $6.2M in funding, including a $3.2M Series A round at a $75M valuation. It is backed by leading industry investors such as Borderless Capital, Coinbase Ventures, ParaFi Capital, Jump Crypto, and OKX Ventures.
What is Folks Finance?
Folks Finance is a cross-chain DeFi platform focused on lending, combining on-chain and off-chain assets to power the digital economy. Built on the xChain system, it offers scalability, security, and efficiency for lending, borrowing, and staking across both EVM and non-EVM ecosystems.
The platform lowers the barrier to DeFi entry with a smooth onboarding process, using technologies like Chainlink CCIP and Wormhole to connect chains such as Avalanche, Ethereum, Base, Arbitrum, BNB Chain, and more in the future. It lets users manage portfolios across chains without constantly switching networks.
How Does Folks Finance Work?
Folks Finance operates through two main layers:
- Cross-chain Lending Layer (xChain): The main engine using Chainlink and CCIP to verify assets across multiple blockchains. Users can deposit on one chain and borrow on another, earning fees and rewards securely and transparently.
- DeFi Suite on Algorand: A simple wallet-based system for staking ALGO, borrowing, and swapping efficiently. Features like Loan Looping and Folks Router maximize returns, powered by partners such as Chainlink, Wormhole, and Circle CCTP.
In short, Folks Finance works like a “dual brain”: xChain handles the technical validation and yield side, while the interface layer keeps things as easy as scrolling a feed. Real-World Assets (RWA) play a key role, bridging DeFi with traditional finance.
Main products include:
- xALGO Liquid Staking: Stake $ALGO to earn derivative tokens that can still be used in DeFi while earning governance rewards.
- gALGO Liquid Governance: Commit $ALGO for Algorand governance while keeping liquidity to borrow or trade.
$FOLKS Token Information
$FOLKS Key Metrics
- Token Name: Folks
- Ticker: $FOLKS
- Type: Utility Token
- Total Supply: 50,000,000 $FOLKS
- Contract Address: TBA
$FOLKS Use Cases
- Staking in the xChain system to earn real yield from fees, MEV, and multi-chain validation.
- Paying gas fees for staking and trading features.
- Earning community rewards through airdrops and incentives.
- Governance participation (voting rights).
$FOLKS Listing Details
- Listing Date: Nov 6, 2025
- Confirmed CEX Listings: TBA
- Pre-market Price (Whales Market): TBA
$FOLKS Tokenomics & Fundraising
Tokenomics
Total Supply: 50,000,000 $FOLKS
$FOLKS Allocation:
- Community: 35%
- Ecosystem Growth: 24.73%
- Seed Supporters: 21.83%
- Core Contributors: 10%
- Strategic Supporters: 4.94%
- Advisors: 3.50%
Fundraising
Folks Finance raised $6.2M from investors such as Borderless Capital, Coinbase Ventures, ParaFi Capital, Jump Crypto, OKX Ventures, and more. The latest Series A round brought in $3.2M at a $75M valuation.
Roadmap & Team
Roadmap
- 2022–2024: Launched mainnet on Algorand, expanded cross-chain via xChain, reached over $400M TVL and 200K+ users.
- 2025: Launch $FOLKS (Nov 6), start airdrop season 1, release Folks Mobile app, xChain V2 with new LSTs (like xALGO), expand EVM/non-EVM integrations, and launch institutional products.
- 2026+: Community governance, more chain integrations, and new products to boost adoption.
Team
- Benedetto Biondi: Co-Founder & CEO with deep experience in DeFi and blockchain.
Conclusion
By blending user-friendly cross-chain features, unified liquidity, and real yield infrastructure, Folks Finance makes blockchain accessible to millions without leaving familiar platforms.
As the ecosystem grows with AI personalization, RWA integration, and community governance, Folks Finance could set a model for how DeFi meets real-world finance, turning staking and trading into tangible financial opportunities.
Disclaimer: This article is for informational purposes only, not investment advice, and Whales Market is not responsible for any of your investment decisions.
FAQs
Q1. What is the current $FOLKS price?
$FOLKS hasn’t officially launched yet. However, it can be traded pre-market on Whales Market. After launch, it will likely appear on major CEXs such as Binance, Bybit, or OKX.
Q2. What makes Folks Finance special?
It combines real yield, cross-chain capability, and an easy onboarding process, no complex wallet setups, no heavy gas fees, just seamless connectivity.
Q3. What can $FOLKS be used for?
It’s used for staking, governance, gas fees, and community rewards within the Folks ecosystem.
Q4. When will $FOLKS launch?
The Token Generation Event (TGE) is planned for Nov 6, 2025.
Q5. Where can $FOLKS be traded pre-market?
Users can trade it on Whales Market, a leading pre-TGE DEX with over $300M volume, decentralized, trustless, and on-chain.
Q6. How to trade $FOLKS before official listing?
Users can buy or sell $FOLKS pre-TGE on Whales Market by creating or matching orders with collateral-based payment mechanisms.