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Wormhole NTT Contracts [3546124436]

The past 3 weeks we have been trying to receive approval from the Algorand Foundation to share the contract with the xGov Council under NDA. It doesn’t look likely that this will be granted.

We realize you said the formal compliance check happens only after a proposal has been approved by the community.

Hi @uhudo, I think it was misunderstood when I said earlier the “AF has full IP rights to the developed work”. We spoke with the Algorand Foundation and they confirmed the following: “the contract does not grant us [Algorand Foundation] any ownership over the IP created in this contract.”

Thanks @uhudo for the feedback but there are a few things to clarify. The AF has full IP rights to the developed work. They preferred Folks Finance to host the repositories because they don’t have the engineering capacity to take on the maintenance work.

The funding was to cover:

There likely won’t be any additional proposals in the future. Since it’s undetermined and likely not to happen

Thanks @uhudo for your patience while we waited on approval on what we can disclose. We can now confirm that Folks Finance received $150,000 in funding from the Algorand Foundation for the development. As noted earlier, the development work was significant such that we ended up self-funding some of it.

@Tryvis I think there is some confusion here because the smart contracts were made open source in July 2025 and is linked in the proposal GitHub - Folks-Finance/algorand-ntt-contracts.

Sorry for the delay in responding to your question @uhudo. We received external support in a 3 party agreement but we can’t disclose the details as we are under NDA. The funding we did receive didn’t cover our costs and this proposal aims to help cover some of that gap.

Hi all, this is the forum post to discuss the proposal Wormhole NTT Contracts.

Description

Wormhole’s Native Token Transfers (NTT) is an open framework that enables the seamless creation and transfer of multichain tokens between Algorand and other chains.

The proposal requests 300,000 ALGO in funding.

Folks Smart Contract Library [3368473647]

Thanks @SGen, the proposal is solely for the Folks Smart Contract Library. As the lending smart contracts are not open source, they wouldn’t qualify for an xGov grant. They are just referenced here to give background to the Folks Finance team.

In terms of our roadmap for our lending, we don’t have specific details at this time but we continue to assess our options.