Folks Finance Staked xALGO (xalgo)

Folks Finance's xALGO is the leading liquid staking token on the Algorand blockchain. It represents staked ALGO and enables users to earn Algorand Consensus Rewards while staying liquid within the DeFi ecosystem. When users stake ALGO through Folks Finance, they receive xALGO tokens, which appreciate in value as rewards accumulate. These tokens can be traded, used as collateral, or borrowed against in DeFi, providing flexibility and ongoing yield generation. As xALGO collects rewards, its value increases compared to ALGO, and it can be redeemed for ALGO at any time.