ForTube was officially launched on the ETH Mainnet in May 2019. After continuous product iterations and stable operation, it has now become one of the world’s leading DeFi lending platforms, providing safe and efficient liquidity solutions for the global market.
The Force Protocol
The Force Protocol is a decentralized finance service protocol built on blockchain systems, consisting of a set of DeFi technical components and tokenized protocols. The Force Protocol is committed to providing secure, inclusive, innovative, and transparent decentralized financial services for users worldwide.
The Force Protocol proposes three DeFi technical components: a fundamental component, an extended component, and a financial component, which collectively form “The Force.” The Force is well known by people through the movie series “Star Wars”, in which “the force” is the most important power to secure love and peace in the universe. Drawing on this important concept, the team named the product “The Force.”
The goal of the project is to create an internet product level of development and upgrading pace as well as a user experience among Ethereum finance DApps while maintaining their security.
The Force Protocol integrates the bond financing protocol, crypto loan protocol, and decentralized stablecoin protocol, to form the ForTube decentralized financial services platform. ForTube will provide individual and enterprise clients with crypto asset investment, financing, and trading services to meet the various crypto financial needs of various clients.
Who are the founders of ForTube (FOR)?
The founder of ForTube is David Lei, who had his Master’s from Tsinghua University. He learned about the Bitcoin and crypto ecosystem in 2011, studied crypto economics and open finance since 2016, and is now a pioneer of open finance.
Ben Yorke is the cofounder of ForTube. He is a former research analyst and content writer; he is also an entrepreneur with experience both in international markets and China. He had his Business Administration degree from San Diego State University.
Seamon Liu is yet another co-founder. He was the CTO of Yunbi Exchange in 2017, CTO of Chaince Exchange from 2018 to 2019, a senior blockchain technologist, and a deep researcher in blockchain, networking security, and encryption protocols.
Fabian K is a blockchain developer. He is an experienced and enthusiastic developer and project manager with 15 years of knowledge in high-traffic web services; with experience and focuses on blockchain analytics and insights.
What is ForTube (FOR) used for?
Participate in ForTube Bond Rating
Voting Community raters who hold The Force Protocol ecosystem token, FOR, can participate in bond credit rating. After understanding the bond issuance information, the rater locks his FOR asset to a certain ranking, and the FOR token will be released when the rating is over.
Participate in the Governance of ForTube
FOR holders govern the ForTube platform through voting. Voting is the key system variable in ForTube Bond, ForTube Bank, and QIAN that can be modified and adjusted according to selected proposals.
Participate in the Stability Adjustment of QIAN Through Flash Loan
The management committee of the QIAN system will use the additional income obtained to buy FOR tokens in the market regularly. For example, as the value container of the QIAN smart contract revenue, FOR will be locked in the smart contract that preserves the revenue of the QIAN system.
Participate in QIAN’s Global Debt Auction
Under extreme conditions, the system’s global asset adequacy ratio may drop below 100%. If the market continues to be sluggish, the liquidation arbitrage may not develop well due to the lack of intention to arbitrage. Overall debt will be generated by this event, which will be followed by the insufficient value of the reserve assets in the system.
How is ForTube (FOR) unique?
ForTube intends to create an innovation of products and business, such as risk classification and asset pooling. To do this, it redesigned the optimization of the financial model, the upgrading of the risk control system, as well as the brand-new operation growth system with the Membership System and Academy included.
According to project launch and operation needs, 30% of the tokens will return to strategic investors and community members. This is unlike other decentralized projects, as the project was completed with self-raised funds by the project founders. Also, due to confidence and to motivate themselves, the team decided that the FOR tokens corresponding to the cornerstone investment stay locked forever.
How many ForTube (FOR) coins are in circulation?
The total supply of FOR tokens is 1 billion and there will never be additional issuance. Under the guidance of The Force Protocol team, 85% of the tokens will be used for community construction and donation programs.
The community ecosystem construction, The Force Protocol Foundation, strategic investors, and community donation take up 30%, 25%, and 30% respectively. The remaining 15% will be saved to reward the Force Protocol founder team and the ForTube development team for their contributions and to incentivize new team members.
The tokens for the team will be locked for 3 years, then the contract will release 30% of the tokens 12 months after the initial public trading, a further 30% after 24 months, and 40% after 36 months.
How is the ForTube Network secured?
ForTube has created an off-line security audit mode and passed the audit of three major security companies, namely CertiK, Peckshied, and SlowMist.
How do I buy ForTube (FOR)?
The FOR token can be used for a wide range of uses, like staking and governance.
FOR tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy FOR through your trading account.
Which Cryptocurrency Wallet Supports ForTube (FOR)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as ForTube (FOR). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their FOR wallet because it offers a simple interactive interface, making it easy for people to navigate its system.