Folks is a cross-chain DeFi protocol that primarily provides lending, staking, and trading functions, supporting multiple blockchains (such as Algorand, EVM chains, etc.), achieving unified liquidity through Chainlink CCIP and Wormhole NTT without the need to wrap or bridge assets.
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1. Basic accumulation: Long-term project building and financing support
Folks Finance was established a few years ago, has accumulated 200K+ users, $400M+ TVL ATH (currently about $200M+), and operates on 8 chains. After the TGE (Token Generation Event) in early November, the price started from a low of $2, benefiting from the listing on Binance (spot and futures, up to 50x leverage) and top VC support (such as Coinbase Ventures and Jump Capital). On November 14, they completed a $3.2M strategic round of financing, with a valuation of $75M, which provides funding and confidence for subsequent expansion.
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2. Early December: Incentives and milestones ignite the first wave of increases
• Monad chain TVL breaks $10M:
Folks on Monad quickly broke $10M in TVL, making USDT0 the largest liquidity pool on the chain.
• Season 2 points system launched:
Richer than Season 1 (which distributed 1.5M tokens), including interest repayment (10K points per $1), Folks Router swaps/flash loans (100 points per $1), and 3% referral rewards. This stimulates protocol usage, leading to a surge in TVL and trading volume.
• xPortal utility launched:
Users can pay cross-chain message fees with $FOLKS, enjoying a 25%+ discount, marking the token's first non-governance utility scenario, reducing selling pressure.
• Bybit perpetual contracts listed:
Listed on December 9-10, unlocking leveraged trading, with 24h trading volume soaring to $20M, and price rising from $11 to $15.5 ATH.
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3. Mid-December: Expansion announcements and staking opening trigger a surge (up to $50)
• New LST and xChain V2 announcements:
Announced on December 11, developing a new Liquid Staking Token (LST) on an undisclosed EVM chain, equipped with an automated strategy treasury to enhance efficiency and performance. xChain V2 includes non-EVM integrations (possibly Solana/Sui), debit cards with lending support (Folks Mobile), and one-click strategies, targeting $1B TVL, backed by 1M $FOLKS incentives.
• 1M+ cross-chain transfer milestone:
Achieved on December 13, proving the utility of xPortal and avoiding liquidity fragmentation.
• Chainlink reward season:
Folks received a 35% cube allocation among 9 Chainlink Build projects, becoming a top choice, enhancing community trust.
• Staking opened:
On December 14, Kaizen Finance (unlimited, 7.5K rewards) and KuCoin (limit 1K/person, 2.5K rewards) launched 30 days of 30% APR staking, attracting a large number of holders.
• Kraken and KuCoin listed;
Further expanding liquidity, combining Airaa activities to drive mindshare.
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This rally is a perfect combination of fundamentals + catalysts: real TVL growth, utility upgrades, and liquidity expansion, rather than speculative hype. Social activity is high, but be cautious of corrections (current fluctuations between $28-39). Looking ahead to xChain V2 and the new LST, if successful, $FOLKS is expected to continue upward (forecast models show that increased liquidity post-listing could push 113%+).
DYOR, market volatility is high, no investment advice.
