FOLKS is Folks Finance's governance and main utility token.
The total FOLKS supply is capped at 50,000,000 tokens, and more than 50% of them will be distributed to the community. The FOLKS tokenomics is still being designed.
The FOLKS token will enable holders to collaborate as governors of the protocol, allowing them to vote and make proposals.
- As collateral to borrow against it,
- As a rewarding medium for participation in different features and activities of Folks Finance,
- To participate in some of Folks Finance platform's governance and related smart contracts parameters settings,
- It can be "staked" or locked into different smart contracts within Folks Finance or also other DeFi platforms, rewarding the user for this action with more FOLKS or even various other digital tokens,
- As a guarantee of benefits in the protocol.
All use cases of FOLKS are being studied, all possibilities can be modified or eliminated, and more could be added.