According to Odaily, DeFi protocol Folks Finance has announced the launch of its xChain testnet on Base, Avalanche, and Ethereum. The testnet utilizes Chainlink CCIP, Wormhole, and Circle CCTP to build its infrastructure. The primary objective of this testnet is to thoroughly evaluate and validate Folks Finance's cross-chain framework, which aims to offer lending functionalities across multiple blockchains.
Folks Finance is targeting an early fall 2024 release for its mainnet. This initiative marks a significant step in the development of cross-chain lending solutions, potentially enhancing the interoperability and efficiency of decentralized finance platforms.