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Md Omar Faruk

@omarfarukbin

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29 Followers
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Polygon has awarded Folks Finance a $300,000 grant to enhance crosschain lending. Folks Finance's decentralized lending protocol aims to address liquidity fragmentation by utilizing a unique 'hub-and-spoke' architecture. This grant, provided in three installments, signifies a strategic move in Polygon's lending sector, especially with Aave reducing its presence on the network. The grant will improve liquidity, user experiences, and borrowing/lending safety across various blockchains. Users can earn 'Folks Points' for engaging with the protocol. Unlike traditional multichain systems, Folks Finance consolidates liquidity from different chains into a single hub, enabling seamless cross-chain transactions without the need for bridges. The collaboration between Folks and Polygon is seen as a positive step towards advancing crosschain lending. With support from Avalanche and Arbitrum Foundations, Folks Finance is poised to revolutionize crosschain lending and provide new opportunities for users.
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Blum, a Telegram mini app with 42 million monthly users last year, has announced its airdrop criteria and snapshot date after over a year of development. The project shifted from tap-to-earn to trade-to-earn, aiming to become a decentralized exchange (DEX). Despite this, Blum has not seen significant trading activity compared to other DEX platforms. The snapshot is set for June 7 to determine airdrop eligibility based on user balances and activity. However, some users are unhappy with the strict eligibility conditions, citing issues with fairness and requirements. Blum's daily trading volume has also dropped significantly in 2025, affecting its competitiveness in the DEX market. The project's token price has fallen by 90% from its peak, reflecting investor doubts. Despite challenges like the arrest of co-founder Vladimir Smerkis, Blum remains confident in its value proposition and future success.
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