To learn more about this project, check out our deep dive of ForTube.
What Is ForTube (FOR)?
ForTube, previously known as the Force Protocol, describes itself as a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. Its main aim is 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 offers 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 that is 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 of 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 works 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 that was launched by ForTube and is based on the Force Protocol. ForTube supports the depositing and borrowing of cryptoassets. Users can deposit, withdraw, borrow and repay at any time. The interest rates are automatically adjusted by the platform’s algorithms.
As of March 2021, the supported tokens include USDT, USDC, HUSD, BUSD, DAI, HBTC, ETH, BNB, HT and OKB. Users can earn through the Force Protocol’s ecological token FOR by providing liquidity for the supported tokens.
This platform is permissionless, decentralized and fully trustless. It is transparent due to the fact that all of the transactions are publicly auditable. Additionally, it is fully programmable, allowing developers to code business logic into low-cost and interoperable financial services.
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How Many ForTube (FOR) Coins Are There in Circulation?
ForTube (FOR) has a circulating supply of 438,000,000 tokens, and no maximum supply data is available as of March 2021.
How Is the ForTube Network Secured?
The ForTube network was audited by the SlowMist blockchain security firm and passed all the 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 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:
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