Folks Router is a DEXs aggregator that allows users to swap tokens across multiple decentralized exchanges (DEXs) on the Algorand blockchain. This means that users can get the best possible price for their swaps, as Folks Router will automatically compare prices across various DEXs. It also supports split routing and multi-swap paths.
How to use Folks Router
To use Folks Router, simply connect your Algorand wallet to the Folks Finance website. Then select the “Swap” item in the navigation menu at the top of the page. Choose which assets you would like to swap, the amount to swap and the maximum slippage. When you are ready, confirm the swap and sign the requested transactions.
The Folks Router is also fully integrated into the Folks Finance dapp. Operations such as: “Swap and Deposit”, “Swap Collateral”, “Repay with Collateral” and “Buy/Sell gALGO” all use the Folks Router to ensure you get the best possible rates.
There is always a risk of slippage when swapping tokens. Slippage occurs when the price of a token changes between the time that you initiate a swap and the time that the swap is executed. This can happen for a number of reasons, such as market volatility or changes in liquidity.
You can set the tolerance limit you consent to have for your requested swap. If the price change is greater than the limit set, then the transaction will fail and no funds will leave your wallet.
Folks Router currently supports the following DEXs on the Algorand blockchain:
Notably, Folks Router includes Lending Pools in its asset pairs, which offers another layer of liquidity and generates fees for those providing liquidity in Lending Pools.
How does it work?
When swapping, Folks Router supports split routing up to 4 paths, and 3 swaps per route, with the potential to expand these capabilities further. Folks Router supports both fixed-input and fixed-output swaps, meaning you will always receive exactly what you want.
Transactions are built compactly in Folks Router, which offers two distinct benefits: reduced transaction fees and increased opportunities for composability. These features, especially the latter, pave the way for more progressive and user-friendly products than Folks has ever launched before.
Folks Router is fully integrated into the Folks Finance dApp, which makes it easy for users to swap tokens. Actions such as swapping collateral, swapping borrowed assets, and swapping gALGO will benefit from the improved efficiency of the Folks Router. Assets and pools are also dynamically updated, highlighting the moment’s popular trading pairs and tokens.
Folks Router charges a 0.1% flat fee on the swap output amount, which should be significantly lower than the amount of savings it brings.