According to PANews, Folks Finance announced the launch of xChain Lending (xLending), a liquidity fragmentation solution. xLending allows users to unify their portfolios under one account, consolidate the value distribution between all crypto addresses, and borrow assets from any connected chain after a deposit.
Folks Finance is the largest application on Algorand, providing tools such as lending, liquidity staking, and loan revolving. Folks completed a $3 million seed round of financing in early 2022, led by Borderless Capital, with participation from Jump Crypto, ParaFi Capital, and others.
xChain is the first step in expanding the Folks DeFi suite to the broader crypto ecosystem, aiming to integrate more DeFi basic functions to complete the xChain product line.
