In this article, You will read about Folks Finance. folks Finance is a newly launched lending and borrowing protocol built on Algorand. They offer a unique liquid Algorand governance opportunity that allows you to still utilize your ALGOs in the form of gALGO3, a token you mint when you deposit your ALGOs into their governance pool. We want to look at the users who committed their ALGOs to this liquid governance pool and minted gALGO3. How much gALGO3 was minted during the governance commitment period? Show the total amount of gALGO3 minted during the governance commitment period over time? Show the total amount of gALGO3 minted over time by day, including outside the governance commitment period. Has a lot of gALGO3 been minted outside the governance commitment period?

The Governance Commitment Period Started March 31st, 2022 12:00:00 GMT and Ended April 14th at 6:00:00 GMT(For Folks Finance Liquid Staking)

What will you read?

What is Folks Finance?

Folks Finance is a capital markets protocol for lending and borrowing built and operated on top of the Algorand blockchain. Through the lending operations, ...

Method

I divide the gALGO3 asset amount by pow(10,6) since it has six decimals. I look up the number of decimals an asset has in the algorand. Asset table as well! gAlgo Minting Wallet Address(the wallet that will send out the gALGO3): RXI3PCQNQKI3WJ2XM4ORAJRLXLYYYJFZVCO4F3LIZD56RPPZLGX2UVQ5LU Look at the application transactions where TRY_BASE64_DECODE_STRING(tx_message :txn :apaa [0]:: STRING) = ‘m’ then look at the inner transaction(which will be an asset transfer transaction) associated with the application transaction’s tx_id(the inner transaction will have the same tx_id, but inner_tx will equal TRUE), and this transaction will show the amount of gALGO3was sent.

How much gALGO3 was minted during the governance commitment period?

About 13M gAlgo3 has been minted during the Governance Commitment Period, which Started March 31st, 2022 12:00:00 GMT and Ended on April 14th at 6:00:00 GMT.

Has many gALGO3 been minted outside the governance commitment period?

The answer is No. The chart below shows the total amount of minted gALGO3 outside the governance commitment period. Besides December 14th when gALGO3 was added to the Algorand network, The total amount of minted gALGO3 is not too much. We only can see some trends in the below daily chart.

The below query and chart show the total amount of gAlgo3 minting during hours from March 31st until April 14th, 2022.

What are charts trying to say to us?

As you can see at the beginning of minting gAlgo3, there is no specific activity. The actual activity started on the evening of March 7th. The minted amount increased slowly and the most amount of gAlgo3 was minted on April 12nd. About 9M gAlgo3 minted in that day. You can see in the hourly chart that the busiest hour is about 17 until 19 PM. Most of the gAlgo3 minted in that time.

The next day the amount of minted gAlgo3 decreased. On April 13th, About 2.7M galgo3 was minted.

The third place where about 50K gAlgo3 was minted is April 11th.

On the last day of the governance commitment period, the total amount of gAlgo3 decreased to 50K.

Users who committed their ALGOs to this liquid governance pool and minted gALGO3

Thank you for Reading!

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