The UI of Folks Finance has been completely reimagined for V2. All pages are accessible using buttons in the header: Deposit, Loans, Algo Liquid Governance, and Swap. The main dashboard is accessible by clicking the Folks Finance logo in the header, as well.
Elimination of fAssets
V1 required interaction with fAssets after depositing into the markets. V2 eliminates the need for interacting with fAssets on the front-end, creating a more elegant process for establishing loan positions.
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.
Folks Finance users will now be able to take loans with higher loan-to-value ratios thanks to high-efficiency loans. Taking a loan using a value-equivalent collateral type, like gALGO/ALGO or USDC/USDT will enable up to 90% LTV.
The ability to seamlessly swap collateral will enable powerful strategies for traders on Folks Finance V2. Swap your collateral to USDC and ensure stability, or swap into any of our other supported assets to ride the trend. How you manage your positions is up to you.
More supported Assets
V2 supports up to 189 assets. Folks Finance is excited to bring new financial tools to our users. These could include more tokens, liquidity pools, or other investment vehicles.
Users will be able to call upon the Folks Finance V2 SDK to take flash loans, which enables the use of borrowed capital so long as it is repaid within the same group transaction. Flash loans are a powerful tool in to DeFi, and we’re keen to see how those savvy enough to harness them will apply their potential.
Stable rate/Variable rate loans
No longer will users be subject to fluctuations of interest rates while holding loans. The option to lock in a stable rate will be present for users looking for consistency while they maintain their loan position.
Repay using collateral
Another V2 upgrade which streamlines the user experience is the ability to repay your borrow using your collateral. You’ll be able to scale out of positions in a simpler manner using this new feature.
V2 enables loans to be taken using multiple assets as collateral together. In addition, the ability to borrow multiple assets in a single loan position will bring greater flexibility to the protocol overall.