diff --git a/common/contract.ts b/common/contract.ts
index 5e344f09..f3405c4e 100644
--- a/common/contract.ts
+++ b/common/contract.ts
@@ -9,6 +9,7 @@ export type Contract = {
 
   question: string
   description: string // More info about what the contract is about
+  tags: string[]
   outcomeType: 'BINARY' // | 'MULTI' | 'interval' | 'date'
   // outcomes: ['YES', 'NO']
   visibility: 'public' | 'unlisted'
diff --git a/common/fold.ts b/common/fold.ts
new file mode 100644
index 00000000..c9df3389
--- /dev/null
+++ b/common/fold.ts
@@ -0,0 +1,17 @@
+export type Fold = {
+  id: string
+  slug: string
+  name: string
+  curatorId: string // User id
+  createdTime: number
+
+  tags: string[]
+
+  contractIds: string[]
+  excludedContractIds: string[]
+
+  // Invariant: exactly one of the following is defined.
+  // Default: creatorIds: undefined, excludedCreatorIds: []
+  creatorIds?: string[]
+  excludedCreatorIds?: string[]
+}
diff --git a/common/new-contract.ts b/common/new-contract.ts
index 85f5dedc..c84f6f6e 100644
--- a/common/new-contract.ts
+++ b/common/new-contract.ts
@@ -2,6 +2,7 @@ import { calcStartPool } from './antes'
 
 import { Contract } from './contract'
 import { User } from './user'
+import { parseTags } from './util/parse'
 
 export function getNewContract(
   id: string,
@@ -28,6 +29,7 @@ export function getNewContract(
 
     question: question.trim(),
     description: description.trim(),
+    tags: parseTags(`${question} ${description}`),
     visibility: 'public',
 
     mechanism: 'dpm-2',
diff --git a/common/util/parse.ts b/common/util/parse.ts
new file mode 100644
index 00000000..5f78125e
--- /dev/null
+++ b/common/util/parse.ts
@@ -0,0 +1,21 @@
+export function parseTags(text: string) {
+  const regex = /(?:^|\s)(?:[#][a-z0-9_]+)/gi
+  const matches = (text.match(regex) || []).map((match) =>
+    match.trim().substring(1)
+  )
+  const tagSet = new Set(matches)
+  const uniqueTags: string[] = []
+  tagSet.forEach((tag) => uniqueTags.push(tag))
+  return uniqueTags
+}
+
+export function parseWordsAsTags(text: string) {
+  const regex = /(?:^|\s)(?:[a-z0-9_]+)/gi
+  const matches = (text.match(regex) || [])
+    .map((match) => match.trim())
+    .filter((tag) => tag)
+  const tagSet = new Set(matches)
+  const uniqueTags: string[] = []
+  tagSet.forEach((tag) => uniqueTags.push(tag))
+  return uniqueTags
+}
diff --git a/firestore.rules b/firestore.rules
index 4b1d7142..2091eb0c 100644
--- a/firestore.rules
+++ b/firestore.rules
@@ -35,5 +35,9 @@ service cloud.firestore {
       allow read;
     }
 
+    match /folds/{foldId} {
+      allow read;
+      allow update: if request.auth.uid == resource.data.curatorId;
+    }
   }
 }
\ No newline at end of file
diff --git a/functions/src/create-fold.ts b/functions/src/create-fold.ts
new file mode 100644
index 00000000..eb75a762
--- /dev/null
+++ b/functions/src/create-fold.ts
@@ -0,0 +1,81 @@
+import * as functions from 'firebase-functions'
+import * as admin from 'firebase-admin'
+import * as _ from 'lodash'
+
+import { getUser } from './utils'
+import { Contract } from '../../common/contract'
+import { slugify } from '../../common/util/slugify'
+import { randomString } from '../../common/util/random'
+import { Fold } from '../../common/fold'
+
+export const createFold = functions.runWith({ minInstances: 1 }).https.onCall(
+  async (
+    data: {
+      name: string
+      tags: string[]
+    },
+    context
+  ) => {
+    const userId = context?.auth?.uid
+    if (!userId) return { status: 'error', message: 'Not authorized' }
+
+    const creator = await getUser(userId)
+    if (!creator) return { status: 'error', message: 'User not found' }
+
+    const { name, tags } = data
+
+    if (!name || typeof name !== 'string')
+      return { status: 'error', message: 'Name must be a non-empty string' }
+
+    if (!_.isArray(tags))
+      return { status: 'error', message: 'Tags must be an array of strings' }
+
+    console.log(
+      'creating fold for',
+      creator.username,
+      'named',
+      name,
+      'on',
+      tags
+    )
+
+    const slug = await getSlug(name)
+
+    const foldRef = firestore.collection('folds').doc()
+
+    const fold: Fold = {
+      id: foldRef.id,
+      curatorId: userId,
+      slug,
+      name,
+      tags,
+      createdTime: Date.now(),
+      contractIds: [],
+      excludedContractIds: [],
+      excludedCreatorIds: [],
+    }
+
+    await foldRef.create(fold)
+
+    return { status: 'success', fold }
+  }
+)
+
+const getSlug = async (name: string) => {
+  const proposedSlug = slugify(name)
+
+  const preexistingFold = await getFoldFromSlug(proposedSlug)
+
+  return preexistingFold ? proposedSlug + '-' + randomString() : proposedSlug
+}
+
+const firestore = admin.firestore()
+
+export async function getFoldFromSlug(slug: string) {
+  const snap = await firestore
+    .collection('folds')
+    .where('slug', '==', slug)
+    .get()
+
+  return snap.empty ? undefined : (snap.docs[0].data() as Contract)
+}
diff --git a/functions/src/index.ts b/functions/src/index.ts
index 0b4ef72c..4dfd1e57 100644
--- a/functions/src/index.ts
+++ b/functions/src/index.ts
@@ -10,6 +10,7 @@ export * from './stripe'
 export * from './sell-bet'
 export * from './create-contract'
 export * from './create-user'
+export * from './create-fold'
 export * from './unsubscribe'
 export * from './update-contract-metrics'
 export * from './update-user-metrics'
diff --git a/functions/src/scripts/update-contract-tags.ts b/functions/src/scripts/update-contract-tags.ts
new file mode 100644
index 00000000..933eee56
--- /dev/null
+++ b/functions/src/scripts/update-contract-tags.ts
@@ -0,0 +1,49 @@
+import * as admin from 'firebase-admin'
+import * as _ from 'lodash'
+
+// Generate your own private key, and set the path below:
+// https://console.firebase.google.com/u/0/project/mantic-markets/settings/serviceaccounts/adminsdk
+// James:
+const serviceAccount = require('/Users/jahooma/mantic-markets-firebase-adminsdk-1ep46-820891bb87.json')
+// Stephen:
+// const serviceAccount = require('../../../../Downloads/dev-mantic-markets-firebase-adminsdk-sir5m-b2d27f8970.json')
+admin.initializeApp({
+  credential: admin.credential.cert(serviceAccount),
+})
+const firestore = admin.firestore()
+
+import { Contract } from '../../../common/contract'
+import { parseTags } from '../../../common/util/parse'
+import { getValues } from '../utils'
+
+async function updateContractTags() {
+  console.log('Updating contracts tags')
+
+  const contracts = await getValues<Contract>(firestore.collection('contracts'))
+
+  console.log('Loaded', contracts.length, 'contracts')
+
+  for (const contract of contracts) {
+    const contractRef = firestore.doc(`contracts/${contract.id}`)
+
+    const tags = _.uniq([
+      ...parseTags(contract.question + contract.description),
+      ...(contract.tags ?? []),
+    ])
+
+    console.log(
+      'Updating tags',
+      contract.slug,
+      'from',
+      contract.tags,
+      'to',
+      tags
+    )
+
+    await contractRef.update({
+      tags,
+    } as Partial<Contract>)
+  }
+}
+
+if (require.main === module) updateContractTags().then(() => process.exit())
diff --git a/functions/tsconfig.json b/functions/tsconfig.json
index 6a0ed692..c836df11 100644
--- a/functions/tsconfig.json
+++ b/functions/tsconfig.json
@@ -2,7 +2,6 @@
   "compilerOptions": {
     "module": "commonjs",
     "noImplicitReturns": true,
-    "noUnusedLocals": true,
     "outDir": "lib",
     "sourceMap": true,
     "strict": true,
diff --git a/web/components/contract-card.tsx b/web/components/contract-card.tsx
index 26d18023..90238b3f 100644
--- a/web/components/contract-card.tsx
+++ b/web/components/contract-card.tsx
@@ -3,17 +3,17 @@ import Link from 'next/link'
 import { Row } from '../components/layout/row'
 import { formatMoney } from '../lib/util/format'
 import { UserLink } from './user-page'
-import { Linkify } from './linkify'
 import {
   Contract,
   contractMetrics,
   contractPath,
 } from '../lib/firebase/contracts'
 import { Col } from './layout/col'
-import { parseTags } from '../lib/util/parse'
+import { parseTags } from '../../common/util/parse'
 import dayjs from 'dayjs'
 import { TrendingUpIcon, ClockIcon } from '@heroicons/react/solid'
 import { DateTimeTooltip } from './datetime-tooltip'
+import { TagsList } from './tags-list'
 
 export function ContractCard(props: {
   contract: Contract
@@ -196,14 +196,7 @@ export function ContractDetails(props: { contract: Contract }) {
       {tags.length > 0 && (
         <>
           <div className="hidden sm:block">•</div>
-
-          <Row className="gap-2 flex-wrap">
-            {tags.map((tag) => (
-              <div key={tag} className="bg-gray-100 px-1">
-                <Linkify text={tag} gray />
-              </div>
-            ))}
-          </Row>
+          <TagsList tags={tags} />
         </>
       )}
     </Col>
diff --git a/web/components/contracts-list.tsx b/web/components/contracts-list.tsx
index cef3bdf0..0246e092 100644
--- a/web/components/contracts-list.tsx
+++ b/web/components/contracts-list.tsx
@@ -11,7 +11,7 @@ import {
 import { User } from '../lib/firebase/users'
 import { Col } from './layout/col'
 import { SiteLink } from './site-link'
-import { parseTags } from '../lib/util/parse'
+import { parseTags } from '../../common/util/parse'
 import { ContractCard } from './contract-card'
 import { Sort, useQueryAndSortParams } from '../hooks/use-sort-and-query-params'
 
diff --git a/web/components/leaderboard.tsx b/web/components/leaderboard.tsx
new file mode 100644
index 00000000..429ac1d7
--- /dev/null
+++ b/web/components/leaderboard.tsx
@@ -0,0 +1,58 @@
+import Image from 'next/image'
+import { User } from '../../common/user'
+import { Row } from './layout/row'
+import { SiteLink } from './site-link'
+import { Title } from './title'
+
+export function Leaderboard(props: {
+  title: string
+  users: User[]
+  columns: {
+    header: string
+    renderCell: (user: User) => any
+  }[]
+}) {
+  const { title, users, columns } = props
+  return (
+    <div className="max-w-xl w-full px-1">
+      <Title text={title} />
+      <div className="overflow-x-auto">
+        <table className="table table-zebra table-compact text-gray-500 w-full">
+          <thead>
+            <tr className="p-2">
+              <th>#</th>
+              <th>Name</th>
+              {columns.map((column) => (
+                <th key={column.header}>{column.header}</th>
+              ))}
+            </tr>
+          </thead>
+          <tbody>
+            {users.map((user, index) => (
+              <tr key={user.id}>
+                <td>{index + 1}</td>
+                <td>
+                  <SiteLink className="relative" href={`/${user.username}`}>
+                    <Row className="items-center gap-4">
+                      <Image
+                        className="rounded-full bg-gray-400 flex-shrink-0 ring-8 ring-gray-50"
+                        src={user.avatarUrl || ''}
+                        alt=""
+                        width={32}
+                        height={32}
+                      />
+                      <div>{user.name}</div>
+                    </Row>
+                  </SiteLink>
+                </td>
+                {columns.map((column) => (
+                  <td key={column.header}>{column.renderCell(user)}</td>
+                ))}
+              </tr>
+            ))}
+          </tbody>
+        </table>
+      </div>
+    </div>
+  )
+}
diff --git a/web/components/nav-bar.tsx b/web/components/nav-bar.tsx
index 246864b1..74a54c8b 100644
--- a/web/components/nav-bar.tsx
+++ b/web/components/nav-bar.tsx
@@ -57,6 +57,17 @@ function NavOptions(props: { user: User | null; themeClasses: string }) {
         </Link>
       )}
 
+      {/* <Link href="/folds">
+        <a
+          className={clsx(
+            'text-base hidden md:block whitespace-nowrap',
+            themeClasses
+          )}
+        >
+          Folds
+        </a>
+      </Link> */}
+
       <Link href="/markets">
         <a
           className={clsx(
diff --git a/web/components/tags-list.tsx b/web/components/tags-list.tsx
new file mode 100644
index 00000000..1fc13b33
--- /dev/null
+++ b/web/components/tags-list.tsx
@@ -0,0 +1,15 @@
+import { Row } from './layout/row'
+import { Linkify } from './linkify'
+
+export function TagsList(props: { tags: string[] }) {
+  const { tags } = props
+  return (
+    <Row className="gap-2 flex-wrap text-sm text-gray-500">
+      {tags.map((tag) => (
+        <div key={tag} className="bg-gray-100 px-1">
+          <Linkify text={tag} gray />
+        </div>
+      ))}
+    </Row>
+  )
+}
diff --git a/web/lib/firebase/api-call.ts b/web/lib/firebase/api-call.ts
index 6c5e98ab..1776e46f 100644
--- a/web/lib/firebase/api-call.ts
+++ b/web/lib/firebase/api-call.ts
@@ -1,13 +1,20 @@
 import { getFunctions, httpsCallable } from 'firebase/functions'
+import { Fold } from '../../../common/fold'
 import { User } from '../../../common/user'
 import { randomString } from '../../../common/util/random'
 
 const functions = getFunctions()
 
-export const cloudFunction = (name: string) => httpsCallable(functions, name)
+export const cloudFunction = <RequestData, ResponseData>(name: string) =>
+  httpsCallable<RequestData, ResponseData>(functions, name)
 
 export const createContract = cloudFunction('createContract')
 
+export const createFold = cloudFunction<
+  { name: string; tags: string[] },
+  { status: 'error' | 'success'; message?: string; fold?: Fold }
+>('createFold')
+
 export const placeBet = cloudFunction('placeBet')
 
 export const resolveMarket = cloudFunction('resolveMarket')
diff --git a/web/lib/firebase/comments.ts b/web/lib/firebase/comments.ts
index e58d8a1c..d272581e 100644
--- a/web/lib/firebase/comments.ts
+++ b/web/lib/firebase/comments.ts
@@ -5,7 +5,6 @@ import {
   setDoc,
   query,
   collectionGroup,
-  getDocs,
   where,
   orderBy,
 } from 'firebase/firestore'
@@ -75,9 +74,7 @@ const recentCommentsQuery = query(
 )
 
 export async function getRecentComments() {
-  const snapshot = await getDocs(recentCommentsQuery)
-  const comments = snapshot.docs.map((doc) => doc.data() as Comment)
-  return comments
+  return getValues<Comment>(recentCommentsQuery)
 }
 
 export function listenForRecentComments(
diff --git a/web/lib/firebase/contracts.ts b/web/lib/firebase/contracts.ts
index a4d78b59..c7328326 100644
--- a/web/lib/firebase/contracts.ts
+++ b/web/lib/firebase/contracts.ts
@@ -24,7 +24,6 @@ import { createRNG, shuffle } from '../../../common/util/random'
 export type { Contract }
 
 export function contractPath(contract: Contract) {
-  // For now, derive username from creatorName
   return `/${contract.creatorUsername}/${contract.slug}`
 }
 
@@ -54,7 +53,7 @@ export function contractMetrics(contract: Contract) {
 }
 
 const db = getFirestore(app)
-const contractCollection = collection(db, 'contracts')
+export const contractCollection = collection(db, 'contracts')
 
 // Push contract to Firestore
 export async function setContract(contract: Contract) {
diff --git a/web/lib/firebase/folds.ts b/web/lib/firebase/folds.ts
new file mode 100644
index 00000000..f1da0444
--- /dev/null
+++ b/web/lib/firebase/folds.ts
@@ -0,0 +1,71 @@
+import { collection, doc, query, updateDoc, where } from 'firebase/firestore'
+import { Fold } from '../../../common/fold'
+import { Contract, contractCollection } from './contracts'
+import { db } from './init'
+import { getValues } from './utils'
+
+const foldCollection = collection(db, 'folds')
+
+export function foldPath(fold: Fold, subpath?: 'edit' | 'leaderboards') {
+  return `/fold/${fold.slug}${subpath ? `/${subpath}` : ''}`
+}
+
+export function updateFold(fold: Fold, updates: Partial<Fold>) {
+  return updateDoc(doc(foldCollection, fold.id), updates)
+}
+
+export async function listAllFolds() {
+  return getValues<Fold>(foldCollection)
+}
+
+export async function getFoldBySlug(slug: string) {
+  const q = query(foldCollection, where('slug', '==', slug))
+  const folds = await getValues<Fold>(q)
+
+  return folds.length === 0 ? null : folds[0]
+}
+
+export async function getFoldContracts(fold: Fold) {
+  const {
+    tags,
+    contractIds,
+    excludedContractIds,
+    creatorIds,
+    excludedCreatorIds,
+  } = fold
+
+  const [tagsContracts, includedContracts] = await Promise.all([
+    // TODO: if tags.length > 10, execute multiple parallel queries
+    tags.length > 0
+      ? getValues<Contract>(
+          query(contractCollection, where('tags', 'array-contains-any', tags))
+        )
+      : [],
+
+    // TODO: if contractIds.length > 10, execute multiple parallel queries
+    contractIds.length > 0
+      ? getValues<Contract>(
+          query(contractCollection, where('id', 'in', contractIds))
+        )
+      : [],
+  ])
+
+  const excludedContractsSet = new Set(excludedContractIds)
+
+  const creatorSet = creatorIds ? new Set(creatorIds) : undefined
+  const excludedCreatorSet = excludedCreatorIds
+    ? new Set(excludedCreatorIds)
+    : undefined
+
+  const approvedContracts = tagsContracts.filter((contract) => {
+    const { id, creatorId } = contract
+
+    if (excludedContractsSet.has(id)) return false
+    if (creatorSet && !creatorSet.has(creatorId)) return false
+    if (excludedCreatorSet && excludedCreatorSet.has(creatorId)) return false
+
+    return true
+  })
+
+  return [...approvedContracts, ...includedContracts]
+}
diff --git a/web/lib/firebase/init.ts b/web/lib/firebase/init.ts
index 98734946..86c0648a 100644
--- a/web/lib/firebase/init.ts
+++ b/web/lib/firebase/init.ts
@@ -1,5 +1,5 @@
 import { getFirestore } from '@firebase/firestore'
-import { initializeApp } from 'firebase/app'
+import { initializeApp, getApps, getApp } from 'firebase/app'
 
 // TODO: Reenable this when we have a way to set the Firebase db in dev
 // export const isProd = process.env.NODE_ENV === 'production'
@@ -26,5 +26,6 @@ const firebaseConfig = isProd
     }
 
 // Initialize Firebase
-export const app = initializeApp(firebaseConfig)
+export const app = getApps().length ? getApp() : initializeApp(firebaseConfig)
+
 export const db = getFirestore(app)
diff --git a/web/lib/firebase/utils.ts b/web/lib/firebase/utils.ts
index 479f0087..fc516253 100644
--- a/web/lib/firebase/utils.ts
+++ b/web/lib/firebase/utils.ts
@@ -8,8 +8,8 @@ import {
   DocumentReference,
 } from 'firebase/firestore'
 
-export const getValue = async <T>(collectionName: string, docName: string) => {
-  const snap = await getDoc(doc(db, collectionName, docName))
+export const getValue = async <T>(doc: DocumentReference) => {
+  const snap = await getDoc(doc)
   return snap.exists() ? (snap.data() as T) : null
 }
 
diff --git a/web/lib/util/parse.ts b/web/lib/util/parse.ts
deleted file mode 100644
index 4b20778f..00000000
--- a/web/lib/util/parse.ts
+++ /dev/null
@@ -1,9 +0,0 @@
-import _ from 'lodash'
-
-export function parseTags(text: string) {
-  const regex = /(?:^|\s)(?:[#][a-z0-9_]+)/gi
-  const matches = (text.match(regex) || []).map((match) =>
-    match.trim().substring(1)
-  )
-  return _.uniqBy(matches, (tag) => tag.toLowerCase())
-}
diff --git a/web/pages/[username]/[contractSlug].tsx b/web/pages/[username]/[contractSlug].tsx
index 2d192390..87a81bde 100644
--- a/web/pages/[username]/[contractSlug].tsx
+++ b/web/pages/[username]/[contractSlug].tsx
@@ -23,7 +23,9 @@ import { Bet, listAllBets } from '../../lib/firebase/bets'
 import { Comment, listAllComments } from '../../lib/firebase/comments'
 import Custom404 from '../404'
 
-export async function getStaticProps(props: { params: any }) {
+export async function getStaticProps(props: {
+  params: { username: string; contractSlug: string }
+}) {
   const { username, contractSlug } = props.params
   const contract = (await getContractFromSlug(contractSlug)) || null
   const contractId = contract?.id
diff --git a/web/pages/activity.tsx b/web/pages/activity.tsx
index e05ff1df..359990dd 100644
--- a/web/pages/activity.tsx
+++ b/web/pages/activity.tsx
@@ -2,8 +2,6 @@ import _ from 'lodash'
 import { ContractFeed } from '../components/contract-feed'
 import { Page } from '../components/page'
 import { Title } from '../components/title'
-import { useRecentComments } from '../hooks/use-comments'
-import { useContracts } from '../hooks/use-contracts'
 import { Contract } from '../lib/firebase/contracts'
 import { Comment } from '../lib/firebase/comments'
 import { Col } from '../components/layout/col'
@@ -69,18 +67,13 @@ export function ActivityFeed(props: {
   contractBets: Bet[][]
   contractComments: Comment[][]
 }) {
-  const { contractBets, contractComments } = props
-  const contracts = useContracts() ?? props.contracts
-  const recentComments = useRecentComments()
-  const activeContracts = recentComments
-    ? findActiveContracts(contracts, recentComments)
-    : props.contracts
+  const { contracts, contractBets, contractComments } = props
 
   return contracts.length > 0 ? (
     <Col className="items-center">
       <Col className="w-full max-w-3xl">
         <Col className="w-full bg-white self-center divide-gray-300 divide-y">
-          {activeContracts.map((contract, i) => (
+          {contracts.map((contract, i) => (
             <div key={contract.id} className="py-6 px-2 sm:px-4">
               <ContractFeed
                 contract={contract}
diff --git a/web/pages/fold/[foldSlug]/edit.tsx b/web/pages/fold/[foldSlug]/edit.tsx
new file mode 100644
index 00000000..efc6bb53
--- /dev/null
+++ b/web/pages/fold/[foldSlug]/edit.tsx
@@ -0,0 +1,116 @@
+import clsx from 'clsx'
+import _ from 'lodash'
+import { ArrowCircleLeftIcon } from '@heroicons/react/solid'
+import { useState } from 'react'
+import { Fold } from '../../../../common/fold'
+import { parseWordsAsTags } from '../../../../common/util/parse'
+import { Col } from '../../../components/layout/col'
+import { Spacer } from '../../../components/layout/spacer'
+import { Page } from '../../../components/page'
+import { TagsList } from '../../../components/tags-list'
+import {
+  foldPath,
+  getFoldBySlug,
+  updateFold,
+} from '../../../lib/firebase/folds'
+import Custom404 from '../../404'
+import { SiteLink } from '../../../components/site-link'
+
+export async function getStaticProps(props: { params: { foldSlug: string } }) {
+  const { foldSlug } = props.params
+
+  const fold = await getFoldBySlug(foldSlug)
+
+  return {
+    props: { fold },
+
+    revalidate: 60, // regenerate after a minute
+  }
+}
+
+export async function getStaticPaths() {
+  return { paths: [], fallback: 'blocking' }
+}
+
+export default function EditFoldPage(props: { fold: Fold | null }) {
+  const { fold } = props
+
+  const [name, setName] = useState(fold?.name ?? '')
+  const [tags, setTags] = useState(fold?.tags.join(', ') ?? '')
+  const [isSubmitting, setIsSubmitting] = useState(false)
+
+  if (!fold) return <Custom404 />
+
+  const saveDisabled =
+    !name ||
+    !tags ||
+    (name === fold.name && _.isEqual(parseWordsAsTags(tags), fold.tags))
+
+  const onSubmit = async () => {
+    setIsSubmitting(true)
+
+    await updateFold(fold, { name, tags: parseWordsAsTags(tags) })
+
+    setIsSubmitting(false)
+  }
+
+  return (
+    <Page>
+      <Col className="items-center">
+        <Col className="max-w-2xl w-full px-2 sm:px-0">
+          <SiteLink href={foldPath(fold)}>
+            <ArrowCircleLeftIcon className="h-5 w-5 text-gray-500 inline mr-1" />{' '}
+            {fold.name}
+          </SiteLink>
+
+          <Spacer h={4} />
+
+          <div className="form-control w-full">
+            <label className="label">
+              <span className="mb-1">Fold name</span>
+            </label>
+
+            <input
+              placeholder="Your fold name"
+              className="input input-bordered resize-none"
+              disabled={isSubmitting}
+              value={name}
+              onChange={(e) => setName(e.target.value || '')}
+            />
+          </div>
+
+          <Spacer h={4} />
+
+          <div className="form-control w-full">
+            <label className="label">
+              <span className="mb-1">Tags</span>
+            </label>
+
+            <input
+              placeholder="Politics, Economics, Rationality"
+              className="input input-bordered resize-none"
+              disabled={isSubmitting}
+              value={tags}
+              onChange={(e) => setTags(e.target.value || '')}
+            />
+          </div>
+
+          <Spacer h={4} />
+          <TagsList tags={parseWordsAsTags(tags)} />
+          <Spacer h={4} />
+
+          <button
+            className={clsx(
+              'btn self-end',
+              saveDisabled ? 'btn-disabled' : 'btn-primary',
+              isSubmitting && 'loading'
+            )}
+            onClick={onSubmit}
+          >
+            Save
+          </button>
+        </Col>
+      </Col>
+    </Page>
+  )
+}
diff --git a/web/pages/fold/[foldSlug]/index.tsx b/web/pages/fold/[foldSlug]/index.tsx
new file mode 100644
index 00000000..07408fec
--- /dev/null
+++ b/web/pages/fold/[foldSlug]/index.tsx
@@ -0,0 +1,128 @@
+import _ from 'lodash'
+import { Fold } from '../../../../common/fold'
+import { Comment } from '../../../../common/comment'
+import { Page } from '../../../components/page'
+import { Title } from '../../../components/title'
+import { Bet, listAllBets } from '../../../lib/firebase/bets'
+import { listAllComments } from '../../../lib/firebase/comments'
+import { Contract } from '../../../lib/firebase/contracts'
+import {
+  foldPath,
+  getFoldBySlug,
+  getFoldContracts,
+} from '../../../lib/firebase/folds'
+import { ActivityFeed, findActiveContracts } from '../../activity'
+import { TagsList } from '../../../components/tags-list'
+import { Row } from '../../../components/layout/row'
+import { UserLink } from '../../../components/user-page'
+import { getUser, User } from '../../../lib/firebase/users'
+import { Spacer } from '../../../components/layout/spacer'
+import { Col } from '../../../components/layout/col'
+import { SiteLink } from '../../../components/site-link'
+import { useUser } from '../../../hooks/use-user'
+
+export async function getStaticProps(props: { params: { foldSlug: string } }) {
+  const { foldSlug } = props.params
+
+  const fold = await getFoldBySlug(foldSlug)
+  const curatorPromise = fold ? getUser(fold.curatorId) : null
+
+  const contracts = fold ? await getFoldContracts(fold) : []
+  const contractComments = await Promise.all(
+    contracts.map((contract) => listAllComments(contract.id))
+  )
+
+  const activeContracts = findActiveContracts(
+    contracts,
+    _.flatten(contractComments)
+  )
+  const activeContractBets = await Promise.all(
+    activeContracts.map((contract) => listAllBets(contract.id))
+  )
+  const activeContractComments = activeContracts.map(
+    (contract) =>
+      contractComments[contracts.findIndex((c) => c.id === contract.id)]
+  )
+
+  const curator = await curatorPromise
+
+  return {
+    props: {
+      fold,
+      curator,
+      activeContracts,
+      activeContractBets,
+      activeContractComments,
+    },
+
+    revalidate: 60, // regenerate after a minute
+  }
+}
+
+export async function getStaticPaths() {
+  return { paths: [], fallback: 'blocking' }
+}
+
+export default function FoldPage(props: {
+  fold: Fold
+  curator: User
+  activeContracts: Contract[]
+  activeContractBets: Bet[][]
+  activeContractComments: Comment[][]
+}) {
+  const {
+    fold,
+    curator,
+    activeContracts,
+    activeContractBets,
+    activeContractComments,
+  } = props
+
+  const { tags, curatorId } = fold
+
+  const user = useUser()
+  const isCurator = user?.id === curatorId
+
+  return (
+    <Page>
+      <Col className="items-center">
+        <Col className="max-w-3xl w-full">
+          <Title text={fold.name} />
+
+          <Row className="items-center gap-2 mb-2 flex-wrap">
+            {isCurator && (
+              <>
+                <SiteLink className="text-sm " href={foldPath(fold, 'edit')}>
+                  Edit
+                </SiteLink>
+                <div className="text-gray-500">•</div>
+              </>
+            )}
+            <SiteLink className="text-sm" href={foldPath(fold, 'leaderboards')}>
+              Leaderboards
+            </SiteLink>
+            <div className="text-gray-500">•</div>
+            <Row>
+              <div className="text-sm text-gray-500 mr-1">Curated by</div>
+              <UserLink
+                className="text-sm text-neutral"
+                name={curator.name}
+                username={curator.username}
+              />
+            </Row>
+          </Row>
+
+          <TagsList tags={tags.map((tag) => `#${tag}`)} />
+
+          <Spacer h={4} />
+
+          <ActivityFeed
+            contracts={activeContracts}
+            contractBets={activeContractBets}
+            contractComments={activeContractComments}
+          />
+        </Col>
+      </Col>
+    </Page>
+  )
+}
diff --git a/web/pages/fold/[foldSlug]/leaderboards.tsx b/web/pages/fold/[foldSlug]/leaderboards.tsx
new file mode 100644
index 00000000..66070790
--- /dev/null
+++ b/web/pages/fold/[foldSlug]/leaderboards.tsx
@@ -0,0 +1,64 @@
+import _ from 'lodash'
+import { ArrowCircleLeftIcon } from '@heroicons/react/solid'
+
+import { Col } from '../../../components/layout/col'
+import { Leaderboard } from '../../../components/leaderboard'
+import { Page } from '../../../components/page'
+import { SiteLink } from '../../../components/site-link'
+import { formatMoney } from '../../../lib/util/format'
+import { foldPath, getFoldBySlug } from '../../../lib/firebase/folds'
+import { Fold } from '../../../../common/fold'
+import { Spacer } from '../../../components/layout/spacer'
+
+export async function getStaticProps(props: { params: { foldSlug: string } }) {
+  const { foldSlug } = props.params
+
+  const fold = await getFoldBySlug(foldSlug)
+
+  return {
+    props: { fold },
+
+    revalidate: 60, // regenerate after a minute
+  }
+}
+
+export async function getStaticPaths() {
+  return { paths: [], fallback: 'blocking' }
+}
+
+export default function Leaderboards(props: { fold: Fold }) {
+  const { fold } = props
+  return (
+    <Page>
+      <SiteLink href={foldPath(fold)}>
+        <ArrowCircleLeftIcon className="h-5 w-5 text-gray-500 inline mr-1" />{' '}
+        {fold.name}
+      </SiteLink>
+
+      <Spacer h={4} />
+
+      <Col className="items-center lg:flex-row gap-10">
+        <Leaderboard
+          title="🏅 Top traders"
+          users={[]}
+          columns={[
+            {
+              header: 'Total profit',
+              renderCell: (user) => formatMoney(user.totalPnLCached),
+            },
+          ]}
+        />
+        <Leaderboard
+          title="🏅 Top creators"
+          users={[]}
+          columns={[
+            {
+              header: 'Market volume',
+              renderCell: (user) => formatMoney(user.creatorVolumeCached),
+            },
+          ]}
+        />
+      </Col>
+    </Page>
+  )
+}
diff --git a/web/pages/folds.tsx b/web/pages/folds.tsx
new file mode 100644
index 00000000..f44b91bb
--- /dev/null
+++ b/web/pages/folds.tsx
@@ -0,0 +1,158 @@
+import clsx from 'clsx'
+import _ from 'lodash'
+import { useRouter } from 'next/router'
+import { useState } from 'react'
+import { Fold } from '../../common/fold'
+import { parseWordsAsTags } from '../../common/util/parse'
+import { ConfirmationButton } from '../components/confirmation-button'
+import { Col } from '../components/layout/col'
+import { Row } from '../components/layout/row'
+import { Spacer } from '../components/layout/spacer'
+import { Page } from '../components/page'
+import { SiteLink } from '../components/site-link'
+import { TagsList } from '../components/tags-list'
+import { Title } from '../components/title'
+import { UserLink } from '../components/user-page'
+import { useUser } from '../hooks/use-user'
+import { createFold } from '../lib/firebase/api-call'
+import { foldPath, listAllFolds } from '../lib/firebase/folds'
+import { getUser, User } from '../lib/firebase/users'
+
+export async function getStaticProps() {
+  const folds = await listAllFolds().catch((_) => [])
+
+  const curators = await Promise.all(
+    folds.map((fold) => getUser(fold.curatorId))
+  )
+
+  return {
+    props: {
+      folds,
+      curators,
+    },
+
+    revalidate: 60, // regenerate after a minute
+  }
+}
+
+export default function Folds(props: { folds: Fold[]; curators: User[] }) {
+  const { folds, curators } = props
+
+  const user = useUser()
+
+  return (
+    <Page>
+      <Col className="items-center">
+        <Col className="max-w-2xl w-full px-2 sm:px-0">
+          <Row className="justify-between items-center">
+            <Title text="Folds" />
+            {user && <CreateFoldButton />}
+          </Row>
+
+          <Col className="gap-4">
+            {folds.map((fold, index) => (
+              <Row key={fold.id} className="items-center gap-2">
+                <SiteLink href={foldPath(fold)}>{fold.name}</SiteLink>
+                <div />
+                <div className="text-sm text-gray-500">12 followers</div>
+                <div className="text-gray-500">•</div>
+                <Row>
+                  <div className="text-sm text-gray-500 mr-1">Curated by</div>
+                  <UserLink
+                    className="text-sm text-neutral"
+                    name={curators[index].name}
+                    username={curators[index].username}
+                  />
+                </Row>
+              </Row>
+            ))}
+          </Col>
+        </Col>
+      </Col>
+    </Page>
+  )
+}
+
+function CreateFoldButton() {
+  const [name, setName] = useState('')
+  const [tags, setTags] = useState('')
+  const [isSubmitting, setIsSubmitting] = useState(false)
+
+  const router = useRouter()
+
+  const onSubmit = async () => {
+    setIsSubmitting(true)
+
+    const result = await createFold({
+      name,
+      tags: parseWordsAsTags(tags),
+    }).then((r) => r.data || {})
+
+    if (result.fold) await router.push(foldPath(result.fold))
+    else console.log(result.status, result.message)
+
+    setIsSubmitting(false)
+  }
+
+  return (
+    <ConfirmationButton
+      id="create-fold"
+      openModelBtn={{
+        label: 'Create a fold',
+        className: clsx(
+          isSubmitting ? 'loading btn-disabled' : 'btn-primary',
+          'btn-sm'
+        ),
+      }}
+      submitBtn={{
+        label: 'Create',
+        className: clsx(name && tags ? 'btn-primary' : 'btn-disabled'),
+      }}
+      onSubmit={onSubmit}
+    >
+      <Title className="!mt-0" text="Create a fold" />
+
+      <Col className="text-gray-500 gap-1">
+        <div>A fold is a view of markets that match selected tags.</div>
+        <div>You can further include or exclude individual markets.</div>
+      </Col>
+
+      <Spacer h={4} />
+
+      <form>
+        <div className="form-control w-full">
+          <label className="label">
+            <span className="mb-1">Fold name</span>
+          </label>
+
+          <input
+            placeholder="Your fold name"
+            className="input input-bordered resize-none"
+            disabled={isSubmitting}
+            value={name}
+            onChange={(e) => setName(e.target.value || '')}
+          />
+        </div>
+
+        <Spacer h={4} />
+
+        <div className="form-control w-full">
+          <label className="label">
+            <span className="mb-1">Tags</span>
+          </label>
+
+          <input
+            placeholder="Politics, Economics, Rationality"
+            className="input input-bordered resize-none"
+            disabled={isSubmitting}
+            value={tags}
+            onChange={(e) => setTags(e.target.value || '')}
+          />
+        </div>
+
+        <Spacer h={4} />
+        <TagsList tags={parseWordsAsTags(tags)} />
+      </form>
+    </ConfirmationButton>
+  )
+}
diff --git a/web/pages/index.tsx b/web/pages/index.tsx
index 9bd5947b..40c68f68 100644
--- a/web/pages/index.tsx
+++ b/web/pages/index.tsx
@@ -13,6 +13,8 @@ import {
   listAllComments,
 } from '../lib/firebase/comments'
 import { Bet, listAllBets } from '../lib/firebase/bets'
+import { useContracts } from '../hooks/use-contracts'
+import { useRecentComments } from '../hooks/use-comments'
 import FeedCreate, { FeedPromo } from '../components/feed-create'
 import { Spacer } from '../components/layout/spacer'
 import { Col } from '../components/layout/col'
@@ -51,12 +53,13 @@ const Home = (props: {
   activeContractComments: Comment[][]
   hotContracts: Contract[]
 }) => {
-  const {
-    activeContracts,
-    activeContractBets,
-    activeContractComments,
-    hotContracts,
-  } = props
+  const { activeContractBets, activeContractComments, hotContracts } = props
+
+  const contracts = useContracts() ?? props.activeContracts
+  const recentComments = useRecentComments()
+  const activeContracts = recentComments
+    ? findActiveContracts(contracts, recentComments)
+    : props.activeContracts
 
   const user = useUser()
 
diff --git a/web/pages/leaderboards.tsx b/web/pages/leaderboards.tsx
index 8f96a7e3..0a78ec42 100644
--- a/web/pages/leaderboards.tsx
+++ b/web/pages/leaderboards.tsx
@@ -1,10 +1,7 @@
 import _ from 'lodash'
-import Image from 'next/image'
 import { Col } from '../components/layout/col'
-import { Row } from '../components/layout/row'
+import { Leaderboard } from '../components/leaderboard'
 import { Page } from '../components/page'
-import { SiteLink } from '../components/site-link'
-import { Title } from '../components/title'
 import { getTopCreators, getTopTraders, User } from '../lib/firebase/users'
 import { formatMoney } from '../lib/util/format'
 
@@ -57,56 +54,3 @@ export default function Leaderboards(props: {
     </Page>
   )
 }
-
-function Leaderboard(props: {
-  title: string
-  users: User[]
-  columns: {
-    header: string
-    renderCell: (user: User) => any
-  }[]
-}) {
-  const { title, users, columns } = props
-  return (
-    <div className="max-w-xl w-full px-1">
-      <Title text={title} />
-      <div className="overflow-x-auto">
-        <table className="table table-zebra table-compact text-gray-500 w-full">
-          <thead>
-            <tr className="p-2">
-              <th>#</th>
-              <th>Name</th>
-              {columns.map((column) => (
-                <th key={column.header}>{column.header}</th>
-              ))}
-            </tr>
-          </thead>
-          <tbody>
-            {users.map((user, index) => (
-              <tr key={user.id}>
-                <td>{index + 1}</td>
-                <td>
-                  <SiteLink className="relative" href={`/${user.username}`}>
-                    <Row className="items-center gap-4">
-                      <Image
-                        className="rounded-full bg-gray-400 flex-shrink-0 ring-8 ring-gray-50"
-                        src={user.avatarUrl || ''}
-                        alt=""
-                        width={32}
-                        height={32}
-                      />
-                      <div>{user.name}</div>
-                    </Row>
-                  </SiteLink>
-                </td>
-                {columns.map((column) => (
-                  <td key={column.header}>{column.renderCell(user)}</td>
-                ))}
-              </tr>
-            ))}
-          </tbody>
-        </table>
-      </div>
-    </div>
-  )
-}
diff --git a/web/tsconfig.json b/web/tsconfig.json
index dee57196..1ea03bef 100644
--- a/web/tsconfig.json
+++ b/web/tsconfig.json
@@ -1,6 +1,6 @@
 {
   "compilerOptions": {
-    "target": "es5",
+    "target": "esnext",
     "lib": ["dom", "dom.iterable", "esnext"],
     "allowJs": true,
     "skipLibCheck": true,