Q53. Folks Finance is a newly launched lending and borrowing protocol built on Algorand. They offer a unique liquid Algorand governance opportunity which allows you to still utilize your ALGOs in in the form of gALGO3 a token you mint when you deposit your ALGOs into their governance pool. An important note is ALGO and gALGO3 are one to one in terms of value.
This allows you to still use the value of your ALGOs in the form of gALGO3 and earn governance rewards since your ALGOs will be placed in governance via their protocol and the staking pool. Click here to learn more: https://docs.folks.finance/protocol-architecture/algo-liquid-governance
Introduction
The Algorand ecosystem has been operating on a decentralized governance paradigm since October 2021. Owners of algorithms may contribute their own algorithms, become governors, and vote on governance issues. Unfortunately, Algo owners must lock their Algo for a quarter, preventing them from using their own liquidity during that time.
Folks Finance created a new approach that enables users who want to participate in Algorand Governance to keep their liquidity throughout the voting time by distributing a liquid asset called gALGO, which is minted at a 1:1 ratio to the value of Algo.
The aims of dashboard:
We'd want to have a look at the people that minted gALGO3 by committing their ALGOs to this liquid governance pool.
During the governance commitment period, how much gALGO3 was produced?
Is it possible to plot the total quantity of gALGO3 created over time within the governance commitment period?
Show the entire quantity of gALGO3 minted throughout time, even outside of the governance commitment period, each day. Has there been a significant amount of gALGO3 produced outside of - - the governance commitment period?
Tips:
The Governance Commitment Period Started March 31st 2022 12:00:00 GMT and Ended April 14th 6:00:00 GMT(For Folks Finance Liquid Staking) gALGO3 asset ID = 694432641
You will need to divide the the gALGO3 asset amount by pow(10,6) since it has 6 decimals. You can 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 you the amount of gALGO3was sent.
Analysis
Conclusion
As the same of currents dashboard results:
About 958 unique users committed their ALGOs to this liquid governance pool and minted gALGO3 over the period time (March 31st 2022 12:00:00 GMT and Ended April 14th 6:00:00 GMT) that was the Folks Finance Liquid Staking time.
The quantity of 9.1M gALGOs minted by 3.5k users on April 12th.
More than 13M of total minted gALGOs done in Folks Finance Liquid Staking period time.
& at the end more than 1M 13M of total minted gALGOs done in out of Folks Finance Liquid Staking period time.
Total minted gALGO was 14.5M over the all time.
Discord: 0xHaM☰d#8391
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At the above table users who committed their ALGOs to this liquid governance pool and minted gALGO3 at the period time are showed by their wallet address.
As the same that notice in the above chart total amount of gALGO3 minted during the governance commitment period over time by daily is observable, we can see that highest amount of gALGO3 minted in Apr 12th in 9.1M by 3500 usres.
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