Timestamps: 00:00 Intro 00:59 New Features 03:58 Connecting w/ MyAlgo Wallet 04:39 Connecting w/ Pera Wallet 05:25 Connecting without a Laptop or Computer 06:34 Depositing Assets 08:32 Opening a Loan 10:16 Adding Collateral to the Loan 12:22 Borrowing 15:25 Swapping Collateral 16:57 Repaying your Borrows 20:38 Markets Tab 21:32 Algo Liquid Governance Tab 23:18 Swapping Assets 23:32 Doc, Faq, Community Treasury & more 24:55 Closing the rest of your positions 27:57 Final Thoughts
Good stuff. I would love more unwinding tutorials. For Gov7, I plan to use the x4 looping commit, and pairing some separate gAlgo and Algo in a pool, probably on Pact. When goverance ends, I always get nervous about the unwinding of these positions when the time comes, and would really love to see guides about how to do that (correct order etc).
What happens when you don't have any galago left? I'm so confused as folk said I don't need to maintain a galago balance to earn rewards but said nothing about getting my initial investment back? Do I lose my Algo it I can't redeem galago for them during redeem Peroid? Do I lose my Algo? Is it recommitted? It's very vague and information is super limited. I thought I would receive my committed Algo back plus my rewards for not removing committed tokens during the governance Peroid. Do I have to burn galgo to get the back? Do i just get rewards? No? Lose my original Algo?
Hey got a question if I just deposit my algo in folks finance and not take a loan do I still get the apy? If so how often is it paid out to me the rewards?
How do you remove your Algorand from Folk Finance and send it back to your ledger? My Algorand seems to be stuck on Folk Finance Having problems figuring it out .. thnx
Hey!! Wondering if you could please help? I have FALGO and when trying to swap back to Algo the slippage is huge. Eg. If I want to swap 1000 FALGO at a time even if I change slippage to minimum 0.01% my 1000 FALGO goes to 75 ALGO feeling pretty worried. I have tens of thousands of FALGO I staked on Folks finance..
Firstly thanks so much for responding!! Yes. Still on V1 So you think there shouldn’t be slippage to change FALGO to Algo? I was trying on Pera Wallet. I should do it in Folks Finance instead? I thought I lost almost all my money ahhh
And yes. I unstaked my FALGO already. Now it’s FALGO but unstaked. Now I need to change it from FALGO back to ALGO and that’s my issue. “Slippage” as bad as 95% loss even setting it to a 0.01% minimum slippage. Does that make sense?
ANSWER: thought I’d respond back to me haha incase anyone else had this trouble. I’ve managed to swap 1:1 Falgo back to Algo. Thank gosh! I tried to do it via Pera wallet swap!! Don’t do that!! I went back and did it via the folks finance. BUT once done I was unable to send it out of folks finance back to me desired wallet (not Pera) it was locked in folks with a warning coming up saying can’t do anything transact. Nothing. However I could navigate this part back on the Pera Wallet. So I used the Pera wallet to send it to me nee desired wallet. Not the most user friendly Experience but I made it out. FYI I use Flare Network so not completely useless but this really messed with me with the slippage. Really thought I’d done my $ doh
In this climate, I will stick to staking directly on chain with the project, AF. Too many moving parts in these liquid staking defi apps that promise crazy returns. How knows if the GAlgo token will crash or dump. Go straight to the source and just stake your algo for the practical apr rates and vote. They are showing over 1538% apr on Folks, which if you been in crypto for a couple years is a big turn off. Thats a no no for me.
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Cheers,
JT 🤝
Timestamps:
00:00 Intro
00:59 New Features
03:58 Connecting w/ MyAlgo Wallet
04:39 Connecting w/ Pera Wallet
05:25 Connecting without a Laptop or Computer
06:34 Depositing Assets
08:32 Opening a Loan
10:16 Adding Collateral to the Loan
12:22 Borrowing
15:25 Swapping Collateral
16:57 Repaying your Borrows
20:38 Markets Tab
21:32 Algo Liquid Governance Tab
23:18 Swapping Assets
23:32 Doc, Faq, Community Treasury & more
24:55 Closing the rest of your positions
27:57 Final Thoughts
This is a well explained tutorial
These have been super helpful!!
Very helpful...very clear
Greatly appreciate you JT.
Can we get this tutorial for “Algofi” as well as the pros and cons of both folks finance and algofi, what you like more and why.
Cheers, this was excellent 👍.
Did you ever make a follow-up video. Would really enjoy watching more.
Great informative video. Did you have a chance to make the follow up video with strategies with liquid governance?
Impressive v2 , thanks
Good stuff. I would love more unwinding tutorials. For Gov7, I plan to use the x4 looping commit, and pairing some separate gAlgo and Algo in a pool, probably on Pact. When goverance ends, I always get nervous about the unwinding of these positions when the time comes, and would really love to see guides about how to do that (correct order etc).
🧠 🧠 📚
What happens when you don't have any galago left? I'm so confused as folk said I don't need to maintain a galago balance to earn rewards but said nothing about getting my initial investment back? Do I lose my Algo it I can't redeem galago for them during redeem Peroid? Do I lose my Algo? Is it recommitted? It's very vague and information is super limited. I thought I would receive my committed Algo back plus my rewards for not removing committed tokens during the governance Peroid. Do I have to burn galgo to get the back? Do i just get rewards? No? Lose my original Algo?
Hey got a question if I just deposit my algo in folks finance and not take a loan do I still get the apy? If so how often is it paid out to me the rewards?
How do you remove your Algorand from Folk Finance and send it back to your ledger? My Algorand seems to be stuck on Folk Finance
Having problems figuring it out .. thnx
Could you make a video about Yieldly Finance?
What happened?
İs there any hope for Yieldly in the next bull run?
My liquidation margin is at 4.9% at a medium risk. What does that even mean? What has to happen in order for me to get liquidated?
Can you please do the Folks Finance Liquid governance tutorial? Seeing as we can now commit to governance period 7. Thanks.
can some one make money use this
Hey!! Wondering if you could please help? I have FALGO and when trying to swap back to Algo the slippage is huge. Eg. If I want to swap 1000 FALGO at a time even if I change slippage to minimum 0.01% my 1000 FALGO goes to 75 ALGO feeling pretty worried. I have tens of thousands of FALGO I staked on Folks finance..
And thanks in advance for any suggestions
Are you still on v1? fALGO is just the placeholder for your staked ALGO. Just go to Folks and unstake your ALGO!
Firstly thanks so much for responding!! Yes. Still on V1
So you think there shouldn’t be slippage to change FALGO to Algo? I was trying on Pera Wallet. I should do it in Folks Finance instead? I thought I lost almost all my money ahhh
And yes. I unstaked my FALGO already. Now it’s FALGO but unstaked. Now I need to change it from FALGO back to ALGO and that’s my issue. “Slippage” as bad as 95% loss even setting it to a 0.01% minimum slippage. Does that make sense?
ANSWER: thought I’d respond back to me haha incase anyone else had this trouble. I’ve managed to swap 1:1 Falgo back to Algo. Thank gosh! I tried to do it via Pera wallet swap!! Don’t do that!! I went back and did it via the folks finance. BUT once done I was unable to send it out of folks finance back to me desired wallet (not Pera) it was locked in folks with a warning coming up saying can’t do anything transact. Nothing. However I could navigate this part back on the Pera Wallet. So I used the Pera wallet to send it to me nee desired wallet. Not the most user friendly Experience but I made it out. FYI I use Flare Network so not completely useless but this really messed with me with the slippage. Really thought I’d done my $ doh
Can it change go eth collateral into a stable or algo efficiency?
I don’t get it 🤷♂️
What part
thanks as always
In this climate, I will stick to staking directly on chain with the project, AF. Too many moving parts in these liquid staking defi apps that promise crazy returns. How knows if the GAlgo token will crash or dump. Go straight to the source and just stake your algo for the practical apr rates and vote. They are showing over 1538% apr on Folks, which if you been in crypto for a couple years is a big turn off. Thats a no no for me.
Could you make a video about Yieldly Finance?
What happened?
İs there any hope for Yieldly in the next bull run?