The 300M Viridis Fund launched by the Algorand Foundation, is the official incentive program focused on significantly increasing the Total Value Locked on the Algorand blockchain. Phase II of this initiative is the Aeneas Liquidity Program.
The Algorand Foundation awarded Folks Finance with 2 Million ALGO to incentivize early users, and bootstrap protocol operations. The primary goal of this initiative is to attract liquidity to boost the Algorand DeFi ecosystem and establish synergies among several dApps built on top of the Algorand blockchain.
Folks Finance distributes Aeneas ALGOs through:
Partial payback of borrowing interests,
ALGO Liquid Governance,
gALGO bullish bounty,
gALGO pools on DEXs.
With the precise goal of level-up the Algorand ecosystem and its TVL, Folks Finance has opened collaborations with Tinyman and Pact for the distribution of Aeneas incentives in ALGO/gALGO pools on those platforms.