What is the current price of FOLKS?
The current price of FOLKS is $2.45 with a 2.13% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Folks Finance is a crosschain lending and borrowing protocol. It lets people supply assets to earn a variable return, borrow against those assets as collateral, and manage the resulting positions across several blockchains from one interface instead of maintaining a separate deposit on every chain.
FOLKS is the protocol's native token. It is used for governance participation, fee reductions inside the Folks products, incentive boosts, and as a gas token on the protocol's own crosschain application layer.
The distinguishing design choice is that Folks tries to remove the usual crosschain workaround. Rather than asking a user to wrap an asset, bridge it, and then supply a synthetic version into a chain-specific pool, the protocol routes messages between chains and keeps liquidity in unified pools, so collateral supplied on one network can back borrowing that settles on another.
Official sources:
Folks Finance was founded by Benedetto Biondi, with development support from the Italian software house Blockchain Italia. The project raised a three million dollar seed round in 2021 and launched on Algorand mainnet in April 2022, at a point when the Algorand ecosystem had very little functioning DeFi infrastructure.
For its first phase the protocol was an Algorand-native money market, and it became the largest lending venue on that chain. From 2024 onward the team extended the same lending logic outward to EVM networks under the name Folks xChain, which is why the project is now described in its own documentation as a multichain DeFi hub rather than an Algorand application.
The protocol is best understood through three layers.
Lending pools Suppliers deposit an asset into a pool and receive a claim that accrues interest. Borrowers draw from the same pool against collateral, subject to per-asset collateral factors. Interest rates move with pool utilization, so borrowing costs rise as free liquidity falls.
Hub and spoke crosschain routing Folks xChain uses a hub and spoke model. Spoke contracts live on each supported network and accept user actions locally. Those actions are relayed as messages to a hub that holds the accounting for the position. The experience is meant to abstract the crosschain step away, so the person supplying collateral does not manually operate a bridge.
Messaging and settlement layers The protocol's own materials describe using interoperability infrastructure including Chainlink CCIP, Circle's Cross-Chain Transfer Protocol for USDC, and Wormhole messaging. Folks does not run its own validator set for these transfers, so the security of a crosschain action depends on the messaging layer used for that route.
Interest accrual, liquidation thresholds, and oracle configuration are parameters the protocol can change through governance, so current values should be read from the live application rather than assumed.
According to the project's documentation, FOLKS is used for the following, with the caveat that the docs themselves warn some utilities may not be live yet:
The token has a fixed supply of 50,000,000 units and six decimals. Documented allocation is 35.00 percent community, 24.73 percent ecosystem growth, 21.83 percent seed supporters, 10.00 percent core contributors, 4.94 percent strategic supporters, and 3.50 percent advisors, with 12,700,475 FOLKS unlocked at the token generation event in November 2025 and investor, team, and advisor allocations unlocking linearly over roughly 12 to 30 months.
FOLKS is natively multichain rather than wrapped. It is issued through Wormhole's Native Token Transfers standard, which burns on the source chain and mints on the destination, so the same canonical token exists on each network instead of a chain-specific wrapper competing with the original. A live contract read confirms the same address, 0xff7f8f301f7a706e3cfd3d2275f5dc0b9ee8009b, on Ethereum, Avalanche, Base, BNB Chain, Arbitrum, Polygon, Sei, and Monad, alongside Algorand standard asset 3203964481.
The second distinguishing point is heritage. Most crosschain lenders were built EVM-first. Folks was built on Algorand first and carried a non-EVM chain into its crosschain design, which is unusual among money markets of comparable scope.
Compared with single-chain money markets, Folks aims at unified liquidity across networks rather than one deployment per chain. Compared with lending protocols that operate isolated per-chain instances under a shared brand, the hub and spoke structure keeps position accounting in one place. Compared with bridge-plus-lending combinations that a user has to assemble manually, the crosschain step is handled inside the protocol flow.
The tradeoff is real and worth stating plainly. Consolidating accounting concentrates risk. If a messaging route is compromised or an oracle misprices an asset, the consequences are not contained to one chain's deployment.
Security rests on several layers: the correctness of the lending and liquidation contracts, the quality of the price oracles feeding collateral valuations, the integrity of the crosschain messaging providers the protocol relies on, and the responsiveness of liquidators when positions fall below their thresholds. Because the protocol spans networks with different finality and reorganization properties, the weakest link in any given route defines the risk for that route.
Users can verify contracts directly. The token is viewable on Snowtrace, Etherscan, BaseScan, BscScan, and on Algorand via Lora.
Crosschain lending is one of the harder problems in DeFi because liquidity naturally fragments by chain. Folks matters as a working attempt to solve that without asking users to hold wrapped assets, and as one of the few significant DeFi protocols that grew out of the Algorand ecosystem and then generalized rather than migrating away from it.
FOLKS trades on centralized exchanges and on decentralized venues across the networks where it is deployed. Availability and supported pairs vary by jurisdiction and by venue, so check the listing on the exchange itself.
FOLKS has appeared on venues including:
Listings change over time. Confirm the current venue list before trading.
FOLKS can be held on an exchange under that exchange's custody, in a self-custodial EVM wallet on any of the supported networks, or in an Algorand wallet such as Pera or Defly for the Algorand standard asset version.
Because the same ticker exists on many chains, always confirm the network and the contract address before depositing or withdrawing. Sending the EVM token to an Algorand address, or to the wrong EVM network, can result in permanent loss.
You can compare FOLKS with related lending markets and ecosystems on Coinrithm:
Track FOLKS live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for FOLKS on CoinRithm before using real money.
Use a crypto paper trading account to demo trade FOLKS with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading FOLKS with real money.
Read the complete paper trading guideThe current price of FOLKS is $2.45 with a 2.13% change in the last 24 hours.
The daily trading volume is $111,150 representing a 53.95% change in the past 24 hours.
The market capitalization of FOLKS is $43,980,440, ranking #334 globally.
The fully diluted valuation (FDV) of FOLKS is $122,269,040, calculated assuming the maximum supply of 50,000,000 FOLKS is in circulation.
Circulating: 17,985,109. Total: 50,000,000. Max: 50,000,000.
In the last 24 hours, FOLKS traded between a low of $2.33 and a high of $2.46.
FOLKS/USDTTether USDT2.45 USDT
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