Folder settings on android plus marking folders as read

I think the ability to add folder settings and marking folders as read should be added to android, ever since the release of folders, it's been a lot easier organizing the server list on desktop clients. However the option has still not been added to Android, how it could work is you press and hold down on the folder and a drop down menu should come up displaying the options for it, similar to that when you're press and holding on a server icon in the server list. Here's an edit I made on what it should look like. I tried my best to make it accurate to the drop down menu. 

Editing the Folder name and color would be similar to editing a role on a server.