Deposit boost

To incentivize engagement with the xChain protocol, Folks Finance has introduced a rewards program that distributes token to users who actively deposit assets and/or use them as collateral.

The incentive distribution is managed by a public smart contract, ensuring transparency and automation in the reward process. Rewards are distributed weekly, and users can claim their accumulated rewards directly within the protocol.

The total amount of rewards distributed each week is determined by Folks Finance and may vary over time based on the market strategies and users requests.

How to claim rewards

1. Once the weekly incentives period ends, go to your Deposit or Loan page.

2. Click on Claim Rewards

3. Click on Claim and sign with your wallet.

Click here for a detailed spreadsheet of Folks’ incentive distribution plans.

Deposits or collateral valued at less than $1 will not be considered for any distributions. Additionally, pending rewards amounting to less than 0.0001 AVAX will not be considered.

AVAX program

Folks Finance has received a grant of 7485 AVAX from the Avalanche Foundation, worth around $200,000 at the time of receipt, to incentivize deposits in the new crosschain lending markets.

$200k in AVAX Incentives for new Crosschain Lending Markets on Folks FinanceMedium