Zone x Folks Finance Partnership
Today, we are excited to announce another strong partnership for the Algorand PlayFi ecosystem — Zone is now the official web3 gaming partner for Folks Finance!
Folks Finance and the gALGO token
Folks Finance is a permissionless algorithmic capital market protocol facilitating lending and borrowing services built on the Algorand blockchain. The lending operation allows Folks users to deposit liquidity and start earning an economic return. The borrowing operation allows users to initiate requests for crypto loans by locking deposited funds as collateral.
Folks Finance has become the leading capital market protocol on Algorand with over $82M locked into the platform. Folks finance provides money market liquidity pools, risk-adjusted credits, health factors, and strongly incentivized liquidation systems. The Liquid Governance token gALGO has been transformative for governance and defi on Algorand.
Currently, Algo holders that participate in decentralized governance for the growth and development of the Algorand ecosystem are rewarded for their contribution in ALGOs.
In order to be a governor, the current model requires users to commit their ALGOs for a fixed duration. During this time, users must maintain their ALGO balance above their committed amount in order to be eligible for rewards. This means that users’ ALGOs are illiquid and effectively locked.
Folks Finance Liquid Governance solves this problem through their gALGO token, minted one-to-one with committed ALGO used in governance. Users can use their gALGO freely in the Algorand ecosystem: as collateral on Folks Finance, liquidity on DEXs, to purchase NFTs and soon, to play games on Zone!
Zone is proud to partner with Folks Finance to bring Folks Finance Game Farms and gALGO-denominated game pools on https://zone.game.
Launching Folks Finance Game Farms and special gALGO pools on Zone
Zone has launched Folks Finance Game Farms on its platform. Gamers can farm gALGO tokens by participating in these special free-to-play pools. These Game Farms will be exclusive to users who have opted in for gALGO.
As always, Zone will also launch and fund an exclusive game farm for the AFK Herd — Look out for AFK x Folks Game Farms!
Learn more about AFKs here.
Do you have an AFK Elephant yet? Buy your AFK here.
Zone recently introduced a revolutionary gamefi primitive called Game Farms on its platform. Game farms allow gamers to play and earn with zero upfront costs, making web3 gaming more accessible to a global audience.
Game Farms allow players to farm various tokens by playing games without paying an entry fee while building their gamer stats and profile. Players can now play and earn across various games on the platform for a chance to participate in mega pools and future Zone PlayFi tournaments.
Leaderboard rewards will also be unlocked soon- keep an eye out for the leaderboard challenges! For gamers participating in Folks Finance Game Farms and gALGO paid pools, holding a top rank on Zone Leaderboards means receiving additional rewards such as bonus ALGOs and Gift Cards!
The better your gamer profile and gaming history, the better your chances of unlocking special rewards! Game on!
Gamers will be able to track their performance on Zone with Leaderboards!
Additional utility unlock for the gALGO token
The gALGO token is minted one-to-one with committed ALGO used in governance and has many use cases in the Algorand defi ecosystem. With this partnership, the gALGO token will have additional utility in the Zone Playfi ecosystem.
gALGO holders will soon be able to use the token to pay the participation fee on Zone to enter games!
Zone will have various game pools featuring the gALGO token such as free-to-play game farms, paid pools with gALGO as participation fees and jackpot pools for gALGO opted-in users!
Benedetto Biondi, CEO, Folks Finance said, “Folks Finance is excited to partner with Zone! Our collaboration on gALGO payment integration and distribution pools will give options to Zone users and adds another compelling use case for gALGO. We’re big supporters of blockchain gaming and can’t wait to see how Zone evolves alongside us.”
“After the successful launch of Zone game farms, we recently hit more than 5000 gamers in a single game farm. Folks Finance is a leading project in the Algorand ecosystem. With this partnership, our objective is to bring a much larger gamer base to further elevate PlayFi on Algorand.”, Adi K Mishra, CEO of Zone said while announcing the partnership.
For updates on the partnership, make sure you follow us across our socials to keep up with the latest news as it happens. Don’t forget to leave a clap for us here on Medium while you’re at it!
Play and earn now at https://zone.game!
