Replies - Activity - gid - Algorand

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 realise 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.” If inquired...

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. We also don’t feel it’s fair to penalise Folks Finance for that.

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 then let...

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...

@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: Smart Contract for the implementation of Wormhole NTT on Algorand · GitHub

Could you at least elaborate explicitly if the 3rd party agreement you are referring to was with the Algorand Foundation (or any of its related entities)? Sorry we aren’t able to elaborate as we are bound by the NDA. I suggest you engage with Algorand Foundation directly if you have any questions...

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. What is meant by “partially...”

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 ...