8h ago
$FOLKS TGE is coming.
Here's some notes from my memo on @FolksFinance ↓
Competitive advantages:
1. True crosschain lending: Unlike most lending protocols that operate on a single chain or use wrapped assets, Folks Finance enables native crosschain borrowing: deposit on Avalanche, borrow on Ethereum, for example.
2. Multi-protocol security: By utilizing Circle CCTP, Chainlink CCIP, and Wormhole simultaneously, the protocol achieves redundancy and enhanced security compared to single-bridge solutions.
3. First-mover on @Algorand: Strong dominance on Algorand (47% of TVL) provides a defensible moat in a less competitive ecosystem while expanding to EVM chains.
4. Institutional-grade infra: Backing from Coinbase Ventures, ParaFi, and Jump Capital suggests the protocol meets institutional security and compliance standards.
5. Innovative token design: The upcoming $FOLKS token using Wormhole NTT represents a technical breakthrough in multichain token standards, avoiding the liquidity fragmentation issues that plague most crosschain tokens.
Are you watching Folks?
9.3K
88
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.