Folks Finance, the top DeFi protocol on the Algorand network, launched tokenized representations of gold and silver on Dec. 4.
Users can now lend, borrow, or trade the new GOLD and SILVER tokens via Folks Finance. Each token is backed by one gram of physical gold or silver. The metals are provided by Meld, a firm facilitating trade in fractionalized gold and silver bars.
Folks Finance described the launch of its new tokens as a “pivotal step in bridging conventional finance with decentralized finance, unlocking the utilization of real gold and silver in DeFi loans and trades.”
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#undefined [Source: TheDefiant]