What Are Users Swapping gALGO3 For?

gALGO3 is an asset that is pegged to ALGO. Users can lock their ALGO up on Folks.finance for governance and while their ALGO is locked they receive gALGO3 and you can use it for other defi activities. Read more about it here: https://docs.folks.finance/protocol-architecture/algo-liquid-governance Let’s look what users are swapping their gALGO3 for while their ALGO is locked in governance.

Are there any notable days? yes in 2022-april-13 there was a great increase in number of trades I believe this tweet is the main reason: https://twitter.com/tinymanorg/status/1513897065339830273?s=20&t=LTH6dXbnQrDTvvYhHayiDQ

Folk Finance is the leading capital markets protocol built on top of the Algorand blockchain. The protocol offers decentralized services of borrowing and lending in a permissionless way. Through the deposit operations, Folks users can lend liquidity, and start earning a continuous economic return instantly. Through the borrowing operation, the users can request crypto loans by locking deposited funds as collateral.

It was an excellent opportunity for me to learn about this pool, and because of that, I want to thank the Flipside team warmly.

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What Are Users Swapping gALGO3 For?