Folks Finance Wins Award For The Most Exciting DeFi Project of 2023

A couple weeks ago the International Association for Trusted Blockchain Applications (INATBA) revealed the nominees for their yearly "Award for the Most Exciting Project of 2023". Winners were to be chosen in five different categories - DeFi, ReFi, Social Innovation, Education and Corporate Innovation.

The final judgement day came on 31th of January, when the INATBA awards gala took place in Brussels, Belgium.

During the event it was announced that Italian-based Folks Finance, built on Algorand, had managed to take home the INABTA award for most exciting DeFi project of the year.

A day to remember 🏆

🥇 @FolksFinance wins the Award of Most Exciting #DeFi Project of 2023 from the @INATBA_org.

A huge shoutout to our amazing team and community, none of this would have been possible without you. 💙

Thanks #Algofam @Algorand. https://t.co/b6ONscAnlw
— Folks Finance (@FolksFinance) February 2, 2023

The Most Advanced DeFi Protocol on The Market

Folks Finance is a modern non-custodial DeFi protocol that is built on the Algorand blockchain, and it was first launched on the Algorand Mainnet in April of 2022. Prior to going live, Folks Finance managed to raise a staggering $3 Million USD through seed funding.

Recently they launched V2.0 of their platform, now offering high efficiency loans, collateral swaps, multi-borrow and flash loans, amongst other features.

The argument by INATBA for nominating Folks Finance for the award follows:

"Folks Finance is the most advanced DeFi lending protocol on the market. It has been built as an evolution of AAVE V3, a leader in the field. Nearly 200 markets are supported; unique features include efficiency loans, stable and variable borrow rates, multiple isolated loan positions, Algo Liquid Governance, flash loans, collateral swapping, and auto-leveraging."

Folks Finance Comments On The Victory

AlgoDaddy reached out to Folks Finance for a comment on these outstanding news.

According to them, what really set them apart from their competition was their strong community and highly-skilled team members - "Due to our powerful community, a team of real professionals and our strong vision that we bring forward into the world of finances, we keep growing and building no matter what the market conditions are." the Folks Finance spokesperson told AlgoDaddy.

We continued to implore what the future now entails for Folks Finance moving forward - "We expand globally as we strive to shape the Folks Finance presence in local markets, given that, we opened an Ambassador program."

Folks Finance Ambassador Program Was Recently Announced

Folks Finance went on to explain how they want to help educate users with their new academy program, which is just about to launch in the near future. "By launching a Folks Academy in the next few weeks, we aim to educate people and make their onboarding process easier and smoother.

Folks Finance also gave us a hint at technical updates coming to the platform "We’re working on many highly-coveted features for asset and portfolio management.”

Article Author: Martin
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