Binance Alpha Airdrop and Futures Launch for Folks Finance (FOLKS) Set for November 6

Key Takeaways:

• Binance Alpha will be the first platform to support Folks Finance (FOLKS), a Web3 project providing permissionless DeFi tools across multiple networks, on November 6.
• Binance will host an exclusive airdrop for eligible traders holding Alpha Points to celebrate the launch of Folks Finance.
• Binance Futures will also begin trading for FOLKSUSDT on November 6 at 11:30 (UTC).

On November 6, at 12:00 (UTC), Binance Alpha will become the first platform to support Folks Finance (FOLKS). After the launch on Alpha, Binance Futures will open trading for the FOLKSUSDT perpetual futures contract at 12:30 (UTC).

There will also be an exclusive $FOLKS airdrop for eligible traders holding Binance Alpha Points to celebrate the launch of Folks Finance on the Binance Alpha platform. Read on to learn about Folks Finance, its Alpha launch, and how to participate in the $FOLKS airdrop.

Folks Finance (FOLKS) Binance Alpha Launch Details 

• Project Name: Folks Finance
• Token Ticker: $FOLKS
• Airdrop Duration: November 6, 12:00 (UTC) – November 7, 12:00 (UTC)
• Airdrops Rewards: TBA (To Be Announced)
• Platform: Binance Alpha
• Eligibility Requirements: Details coming soon 

How To Participate in the $FOLKS Airdrop Campaign

At 12:00 (UTC) on November 6, Folks Finance will be listed on the Binance Alpha platform. The launch will open the Folks Finance airdrop portal, allowing eligible Alpha traders to begin applying for the $FOLKS token.

Based on recent airdrops like the Dino Tycoon Airdrop and THORWallet Airdrop, we recommend that you trade up to raise your balance to 200 and 250 Alpha Points. 

If you meet the criteria, when the airdrop goes live, open the Alpha Event page, locate the Folks Finance airdrop campaign, and click 'Apply.' A claim cost of 15 Alpha Points will be deducted from your account.

The airdrop is open for 24 hours, and you need to claim your allocated $FOLKS tokens; otherwise, Binance will consider them forfeited. Additionally, this is a first-come, first-served airdrop campaign; you must apply as soon as $FOLKS begins trading to have a chance.

More Alpha Airdrops: Binance Alpha Sentism AI (SENTIS) Launch and Exclusive Airdrop

Perpetual Futures Launch Details for Folks Finance Network

In addition to the Alpha launch, Binance Futures will also begin trading for the $FOLKS token on November 6 at 12:30 (UTC).

• Contract Details: FOLKSUSDT (USDⓈ-M)
• Launch Time: November 6, 11:30 (UTC)
• Maximum Leverage: 50x
• Fee Settlement Frequency: Every 4 hours
• Multi-Assets Mode: Supported

After it gets listed, FOLKSUSDT will be added to the Binance Futures New Listing Fee Promotion campaign section. In addition, Binance will make FOLKSUSDT available for Futures Copy Trading within 24 hours of its listing.

About Folks Finance 

Folks Finance is a community-driven, permissionless DeFi platform offering tools for lending, borrowing, staking, and trading across multiple networks. It originally launched on the Algorand blockchain but has evolved into a multi-chain protocol.

You can deposit your crypto assets to Folks Finance and spend them on yield, or borrow against them on various blockchains, as opposed to other DeFi protocols that lock them to a single chain. It is also meant to make DeFi more accessible, efficient, and cross-chain friendly.

Another new feature Folks introduced is a liquid staking mechanism, where users liquid stake tokens such as ALGO and get a liquid staking derivative (such as xALGO). These derivatives remain tradeable and usable across DeFi protocols for lending, trading, or yield farming while still earning staking rewards, unlocking liquidity during the staked period.

All lending and borrowing operations are governed by decentralized, non-custodial smart contracts. Borrowing and lending interest rates are dynamically adjusted (depending on the supply and demand in the market) to ensure efficient use of capital and good incentives to users. 

The platform also has other DeFi utilities, such as a DEX aggregator (Folks Router) to make optimal token swaps across chains and a chain lending infrastructure known as xChain. To support ecosystem growth and innovation, it welcomes developers to use Folks Finance with powerful JavaScript SDKs and developer tools to create DeFi applications and integrate with the Folks ecosystem.

Folks Finance is continuously growing its capabilities and ecosystems, and it plans to add more cross-chain integrations. The launch on Binance gives extra validity to the project and gives it the opportunity to use the world's largest exchange as a launchpad in its expansion.

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