Wormhole NTT Smart Contracts

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 to partially cover:

• The design and architecture of the Algorand NTT smart contracts.
• The development of the Algorand NTT smart contracts.

Proposal is being discussed

Ready to submit

Discussion is ongoing, take part and help shape public sentiment on this proposal.

About the team

The Folks Finance team is one of the earliest builders on Algorand, active since 2021. The team launched the first version of the Folks Finance lending protocol on mainnet in April 2022 and has since delivered multiple upgrades across lending, staking, and interoperability.

Key contributions include:

• Folks Finance Lending Market, introducing multi-collateral and multi-borrow positions, efficiency loans, stable rates, loans management composability, Algorand Ecosystem market.
• Folks Router, a DEX aggregator that allows users to trade tokens across multiple decentralised exchanges on Algorand, giving the best possible price for the trade. Folks Router is also integrated into loans management operations.
• gALGO, Algorand’s leading liquid governance. gALGO leveraged governance, a one-click looping to increase the committed ALGO amount, using a combination of Flash Loan and Lending market.
• xALGO, Algorand’s primary liquid staking token. Ultrastake, a one-click looping to increase the staked ALGO amount, using a combination of Flash Loan and Lending market.
• Ultraswap, a leveraged trading primitive built on top of the Folks Finance lending protocol. It uses a combination of lending, Flash Loan and Folks Router.
• Folks Feed Oracle, is an oracle developed on the Algorand blockchain that provides real-world data to Web3 applications.
• The Folks Smart Contract Library is a curated, modular collection of audited, reusable smart contracts designed to accelerate development on the Algorand blockchain. The library allows you to focus on your business logic by abstracting away common patterns and security mechanisms.

Additional Info

Folks Finance held an audit competition on Immunefi for the smart contracts with a prize pool of $30,000. The smart contracts were internally audited as well.

Adoption Metrics

• Github stars: 23
• Github forks: 10
• 6 NTT tokens and counting: FOLKS, ALPHA, WBTC, WETH, xALGO, iLC Nugget
• $9M+ volume transfers
• 18,000+ total transfers

Created By EU7A...HIHQ // 2 months ago

Past Proposals

• Folks Smart Contract Library [Funded]