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What is ForTube?
ForTube is a DeFi platform developed based on the DeFi technology component of The Force Protocol. It aims to provide decentralized lending services for cryptocurrency enthusiasts worldwide, supporting a wide range of popular assets. With ForTube, users can deposit and withdraw funds at any time, as well as borrow and repay loans globally.
Answers
What Is ForTube (FOR)?
ForTube, previously known as the Force Protocol, is a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. It aims to offer crypto-finance solutions to developers through its software development kit (SDK) and application programming interfaces (APIs) for decentralized application (DApp) development.
The platform provides solutions for cross-platform asset transactions, cross-chain communications, crypto-asset-backed stablecoin insurance, token board insurance, and on-chain payments. The Force Protocol project is a decentralized protocol layer developed and managed by the Force Protocol Foundation Ltd.
ForTube launched its decentralized finance (DeFi) service on the Binance Smart Chain (BSC) in September 2020.
ForTube offers many advantages, including flexible support for globally popular cryptocurrencies that provide higher yield combinations and an upgraded algorithm and ledger structure that significantly reduces gas costs. It also has a robust technical framework with more secure smart contracts.
Who Are the Founders of ForTube?
ForTube was originally developed and managed by the Force Protocol Foundation Ltd., founded by Pete Mardell, who also serves as the company's chief executive officer. Mardell graduated from Barnfield College in 2004.
What Makes ForTube Unique?
ForTube Yield Farming is a DeFi bank launched by ForTube based on the Force Protocol. ForTube supports the depositing and borrowing of cryptoassets. Users can deposit, withdraw, borrow, and repay at any time. The platform's algorithms automatically adjust the interest rates.
As of March 2021, the supported tokens include USDT, USDC, HUSD, BUSD, DAI, HBTC, ETH, BNB, HT, and OKB. Users can earn FOR, the Force Protocol's ecological token, by providing liquidity for the supported tokens.
This platform is permissionless, decentralized, and fully trustless. It is transparent as all transactions are publicly auditable. Additionally, it is fully programmable, allowing developers to code business logic into low-cost and interoperable financial services.
How Many ForTube (FOR) Coins Are There in Circulation?
As of March 2021, ForTube (FOR) has a circulating supply of 438,000,000 tokens. There is no available data on the maximum supply.
How Is the ForTube Network Secured?
The ForTube network was audited by the SlowMist blockchain security firm and passed all checks.
ForTube 2.0 has an original off-chain audit system that can perform uninterrupted audits of smart contracts to protect users' assets. It utilizes a safe and upgradeable system architecture that allows for the improvement of various system modules under a decentralized governance system.
Where Can You Buy ForTube (FOR)?
ForTube (FOR) can be traded on the following exchanges:
- Binance
- Huobi Global
- BiKi
- Upbit
- BiONE
Learn more about how to buy Bitcoin with BYDFi's in-depth guide.
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