Folks Finance Algorand App and cross chain xApp, both need more USDC. That is why I propose Folks Finance to add long-term, 1 year long (1.1.2026 - 31.12.2026) incentive program for USDC using FOLKS as reward token.
Long-term program will likely offer lower yield and reward actual users rather than short term yield farmers. Users are already rewarded via points system, but extra layer of rewards specifically targeting USDC deposits and borrowing, will likely deepen USDC liquidity and usage more than general points system. Psychological factor is also important piece to guide user behavior when they can see FOLKS rewards accruing on their screens and distributed via short term cycles instead of via vague coming airdrop.
This program can be used to lure USDC lenders and borrowers from other platforms and can be also great marketing tool through out the year.
I propose Folks Finance to allocate 50,000 FOLKS (25k into App & 25k into xApp) into this program.
Best regards,
ROAM
a high USDC apy on Algorand is what originally led me to using Folks in 2022. Bringing back Algorand USDC deposit rewards would undoubtedly attract brand new users/liquidity.