Folks Finance Introduces xChain Lending Solution

According to PANews, Folks Finance has announced the launch of its liquidity fragmentation solution, xChain Lending (xLending). This new feature allows users to consolidate their investment portfolios under a single account, merging value distribution across all crypto addresses. After making deposits, users can borrow assets from any connected chain. Leveraging Folks' flexible loan system, users can also use their asset portfolios as collateral to borrow multiple different assets within a single loan. Folks Finance, the largest application on the Algorand platform, offers a range of services including lending, liquidity staking, and loan cycling. In early 2022, the company completed a $3 million seed funding round led by Borderless Capital, with participation from Jump Crypto and ParaFi Capital. On Algorand, Folks has built a comprehensive DeFi suite. The introduction of xChain marks the first step in expanding this suite to a broader crypto ecosystem, aiming to integrate more fundamental DeFi functionalities to complete the xChain product line.