ForTube

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Discover ForTube's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is ForTube?

ForTube (FOR) is a decentralized cryptocurrency lending platform that provides a package of distributed crypto-financial services on an open-source blockchain platform. It allows users to deposit, withdraw, borrow, and repay assets globally, improving capital efficiency through algorithms. Developed by The Force Protocol, ForTube offers decentralized lending services, bond financing, and stablecoin protocols, ensuring asset security and logic upgradability.

How is ForTube used?

ForTube (FOR) is a decentralized finance (DeFi) lending platform that allows users to lend, borrow, or stake cryptocurrencies to earn interest or take out loans. The platform utilizes smart contracts on blockchain technology to automate these financial transactions securely and efficiently, providing tools and APIs for developers to create decentralized applications (DApps).

Key Features
  • Lending and Borrowing: Users can deposit their unoccupied digital assets into smart contracts to receive loan limits. They can then lend other digital assets within the loan limit, and interest will be produced. The platform considers the volatility of both the collateral and borrowed assets to determine the maximum borrowing amount.
  • Staking: Users can earn interest by depositing their assets and participating in the lending process.
  • Governance: FOR tokens are used for governance, allowing holders to participate in decision-making processes for the platform.
Security Measures
  • Off-Chain Audit System: ForTube 2.0 has an original off-chain audit system that continuously audits smart contracts to ensure security.
  • Risk Control Framework: The platform employs three types of risk control management strategies: financial, smart contract, and oracle security. These measures include individual-level and system-level security, experienced contract developers, audit and monitoring systems, and multiple audit mechanisms.
Tokenomics
  • Total Supply: The total supply of FOR tokens is 1 billion, with 85% allocated to charitable and community development initiatives, strategic investors, and the creation of the local ecosystem.
  • Circulating Supply: The circulating supply is 639,520,000 FOR tokens.
Availability

ForTube (FOR) tokens can be purchased on various cryptocurrency exchanges such as Binance, Huobi, Uniswap, and MEXC.

How do I store ForTube?

To store ForTube (FOR) tokens, you can follow these steps:

  1. Create an Account: Register an account on a centralized exchange (CEX) like Bitrue or Bitget. This will provide you with a digital wallet to store your ForTube tokens.

  2. Verify Your Identity: Complete the verification process to secure your account and ensure compliance with regulatory requirements.

  3. Purchase ForTube Tokens: Buy ForTube tokens using your account on the exchange. The tokens will be stored in your digital wallet by default.

  1. Manage Your Wallet: Ensure you have a secure password and two-factor authentication to protect your wallet from unauthorized access. Regularly update your wallet software and keep your private keys safe to prevent theft or loss of your tokens.

By following these steps, you can securely store your ForTube tokens and manage your cryptocurrency assets effectively.

How to buy ForTube?

To buy ForTube (FOR) tokens, you can follow these steps:

  1. Find a Reliable Exchange: Look for a trustworthy and reputable centralized exchange that lists ForTube (FOR) tokens. You can refer to Coinmarketcap.com's list of exchanges to find one that supports FOR trading.

  2. Create an Account: If you don't already have an account on the chosen exchange, create one by following their registration process. This typically involves providing personal information and verifying your identity.

  3. Deposit Funds: Deposit the necessary funds, usually in the form of a popular cryptocurrency like Bitcoin (BTC) or Ethereum (ETH), into your exchange account. This will be used to purchase the FOR tokens.

  1. Navigate to the FOR Market: Find the ForTube (FOR) token market on the exchange and select the trading pair you want to use (e.g., FOR/BTC or FOR/ETH).

  2. Place an Order: Enter the amount of FOR tokens you want to buy and the price you are willing to pay. You can choose between a market order (executes immediately at the current market price) or a limit order (executes when the price reaches your specified limit).

  3. Confirm and Monitor: Confirm your order and monitor the transaction's progress. Once the transaction is complete, the FOR tokens will be credited to your exchange account.

  1. Secure Your Tokens: It is highly recommended to transfer your FOR tokens to a secure, personal wallet to ensure their safety and control.

By following these steps, you can successfully purchase ForTube (FOR) tokens.

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History of ForTube

ForTube, a decentralized finance (DeFi) protocol developed by The Force Protocol, has a rich history. The protocol integrates bond financing, cryptocurrency lending, and decentralized stablecoin protocols to form a comprehensive crypto-open financial service platform. This platform provides crypto-asset investment, financing, and transaction services for both individuals and institutions, catering to diverse user needs.

Key Milestones
  • May 2020: The Force Protocol partnered with Chainlink, utilizing their oracle network to calculate collateral asset values, determine collateralization ratios, and trigger supplementary collateral and liquidation conditions.
  • September 7, 2020: ForTube 2.0 was officially launched, marking a significant milestone. Following this launch, the Total Value Locked (TVL) on ForTube reached $150 million.
Technical Components

ForTube is composed of three DeFi technical components: fundamental, extension, and financial components. These components work together to ensure the platform's security, scalability, and efficiency.

  • Fundamental Components (APEC): Assets Protected Elastic Contracts (APEC) are the core on-chain structure, ensuring decentralization and asset ownership while allowing for upgradable logic and extensible data.
  • Extension Components (BEAMS): Blockchain Enquiring, Auditing & Messaging System (BEAMS) is an off-chain system that monitors contract operations, audits data and assets, and accelerates response speeds.
  • Financial Components (GEL, CALM, MAK): Global Emergency Lockdown (GEL), Cooperative Automatic Lockdown Mechanism (CALM), and Multisig Admin Keys (MAK) protect the platform from attacks and minimize asset losses in case of security breaches.
Applications

ForTube offers three primary DeFi applications:

  • ForTube Bond: A bond financing protocol with fixed terms and interest rates, providing a crypto-asset lending service.
  • ForTube Bank: A crypto digital currency deposit and loan protocol supporting deposit, withdrawal, borrowing, and repayment.
  • ForTube Qian: A decentralized stablecoin protocol where cryptoasset holders can lock their assets to obtain stablecoins equivalent to fiat currency without interest.

These applications, built on the robust technical components, have contributed to ForTube's growth and adoption in the DeFi space.

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How ForTube works

ForTube (FOR) is a decentralized finance (DeFi) platform that allows users to lend, borrow, or stake cryptocurrencies to earn interest or take out loans. It operates on an open-source blockchain and utilizes smart contracts to automate financial transactions securely and efficiently. Here is a detailed overview of how ForTube works:

Key Features
  1. Deposit and Lending: Users can deposit their unoccupied digital assets into smart contracts to receive loan limits and earn interest. They can then lend other digital assets within their loan limit. Deposits and withdrawals can be made at any time without restrictions.

  2. Borrowing: Users can borrow tokens by providing collateral. The borrowing amount is determined by the volatility of both the collateral and the borrowed assets. Interest is generated on the borrowed amount.

  3. Health Index: This measures the security of a user’s debt. The higher the collateral value, the less likely it is to be liquidated, and the more secure it is. If the health index drops below 1, the liquidation mechanism is triggered.

  1. Maximum Loan-to-Value (LTV) Ratio: This determines the maximum borrowing limit for a specific collateral asset. For example, if the LTV ratio is 60%, a $100 deposit can only be used as collateral for a $60 loan.
Governance and Tokenomics
  1. FOR Token: The governance token, FOR, allows holders to participate in ForTube’s governance. The total supply of FOR tokens is 1 billion, with 85% allocated to community development and charitable initiatives.

  2. Token Distribution: Strategic investors, the Force Protocol Foundation, community ecosystem construction, and community donations account for 30%, 25%, and 30% of the tokens, respectively. The remaining 15% is reserved for the development team and founders.

Security
  1. Off-Chain Audit System: ForTube 2.0 has an original off-chain audit system that continuously audits smart contracts.

  2. Secure Architecture: The platform uses a secure and upgradeable system architecture that enables the development of different system modules under a decentralized governance framework.

  3. Audits: ForTube has passed audits by major security companies, including CertiK, Peckshied, and SlowMist.

User Interaction
  1. Platform Interface: Users interact with the platform through its interface, depositing crypto assets to participate in lending, borrowing, and earning yields.

  2. Trading: FOR tokens can be traded on various cryptocurrency exchanges, such as Binance, Huobi, and Uniswap.

Development and Vision
  1. Force Protocol Foundation: ForTube was created by the Force Protocol Foundation Ltd., founded by Pete Mardell, who aims to improve capital efficiency in the crypto market through algorithms and decentralized lending services.

  2. Vision: The vision behind ForTube is to promote financial inclusion by providing a reliable platform for crypto businesses and encouraging crypto investment in the DeFi sector.

In summary, ForTube is a decentralized lending platform that allows users to deposit, lend, and borrow cryptocurrencies while earning interest. It operates on smart contracts, ensuring secure and efficient transactions, and has a governance token that enables holders to participate in the platform’s decision-making process.

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ForTube's strengths

The token ForTube (FOR) has several strengths that contribute to its potential success and value:

  1. Governance Structure: ForTube's governance structure allows FOR token holders to participate in key decision-making processes, such as suggesting changes to the platform and voting on lending pool parameters. This decentralized governance model ensures that the community has a significant say in the platform's development.

  2. Membership System: ForTube has a membership plan that rewards participating members with a monthly revenue of 8%. The top 10% of members are issued additional rewards, encouraging community engagement and incentivizing users to contribute to the platform's growth.

  3. Education Academy: ForTube offers a dedicated educational academy that teaches users about DeFi concepts, including NFTs, liquidation, DEX, and other aspects of the DeFi ecosystem. This educational resource helps users understand the platform and its products, fostering a more informed and engaged community.

  1. Full Positions Guarantee: ForTube's protocol ensures that users' debt health is calculated based on their total borrowed and deposited assets, reducing the risk associated with a single asset plummeting in value. This mechanism provides a significant benefit to users by minimizing potential losses.

  2. Tokenomics: ForTube has a total circulating supply of 639,520,000 FOR tokens, with 85% allocated for community programs, including ecosystem construction, the Force Protocol Foundation, and community donations. This allocation strategy aims to support the growth and development of the ForTube ecosystem.

  3. Decentralized Finance (DeFi) Platform: ForTube operates as a decentralized finance platform, offering lending, borrowing, and staking services to users. It utilizes smart contracts on blockchain technology to automate financial transactions securely and efficiently, providing tools and APIs for developers to create DApps.

These strengths collectively contribute to ForTube's potential for growth and its ability to provide a robust and engaging DeFi experience for its users.

ForTube's risks

ForTube (FOR) is a cryptocurrency project that operates in the decentralized finance (DeFi) space. As such, it is exposed to various financial risks that are inherent to the cryptocurrency and DeFi markets. Here are some of the key financial risks associated with ForTube:

  1. Market Risk: ForTube's value can fluctuate significantly due to changes in market sentiment, supply and demand, and broader economic conditions. This volatility can result in significant losses for investors.

  2. Liquidity Risk: ForTube's liquidity can be affected by market conditions, trading volume, and the availability of buyers and sellers. Low liquidity can make it difficult to buy or sell the token quickly and at a fair price.

  3. Credit Risk: As a DeFi project, ForTube may be exposed to credit risk through its lending and borrowing mechanisms. If borrowers default on their loans, it can lead to significant losses for the project.

  1. Operational Risk: ForTube's operations are dependent on its technology and infrastructure. Any technical issues, security breaches, or management failures can disrupt its operations and impact its financial performance.

  2. Regulatory Risk: The cryptocurrency and DeFi markets are subject to evolving regulatory frameworks. Changes in regulations can impact ForTube's operations, and non-compliance can result in fines, penalties, or even shutdowns.

  3. Counterparty Risk: ForTube may be exposed to counterparty risk through its interactions with other projects, exchanges, or service providers. If these counterparties fail to meet their obligations, it can impact ForTube's financial performance.

  1. Systemic Risk: ForTube is part of a broader cryptocurrency and DeFi ecosystem. Systemic risks, such as a collapse of the entire market or a major project failure, can have a significant impact on ForTube's financial performance.

These financial risks highlight the importance of careful risk management and due diligence for investors considering ForTube as an investment opportunity.

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Did ForTube raise funds?

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ForTube’s team

  • Pete Mardell: CEO and founder of the Force Protocol Foundation Ltd., which created ForTube (FOR).

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