ForTube Coin defines itself as a suite of distributed crypto-financial service protocols on an open-source Blockchain platform, formerly known as The Force Protocol. ForTube aims to provide developers with crypto-financial solutions through an SDK toolkit and APIs for DApp development.
The platform is known for offering solutions such as cross-platform asset transactions, inter-chain communication, crypto-asset backed stablecoins, token bonds, and on-chain payments.
ForTube (FOR) aims to provide decentralized lending services to crypto enthusiasts worldwide. It has been announced that ForTube has two products: Bank and Bond. Bank is an algorithm-focused digital bank where users can deposit and withdraw money at any time and borrow with a scheduled repayment process. Bond, on the other hand, is a platform where users can issue crypto bonds from a single point and use ForTube as an investment platform.
The platform is accessible from anywhere in the world, and records are kept simultaneously on thousands of computers instead of a central server. This aims to fully realize the concept of decentralization. Additionally, the fact that no third party is needed for transaction verification is seen as a natural feature of cryptocurrencies. All transactions can be audited by the public, thus achieving the goal of transparency.
According to explanations about ForTube Bank, the platform is a DeFi bank launched based on The Force Protocol. In the bank, deposit and borrowing interest rates are automatically adjusted by algorithms. Currently supported tokens include USDT, USDC, HUSD, BUSD, DAI, HBTC, ETH, BNB, HT, OKB. Users can provide liquidity with these tokens and receive proportional Force Protocol ecological tokens.
In addition, long-term fans of FOR can participate in the governance of the ForTube platform. Those involved in governance can receive a share of the ForTube platform fees. In order to receive the ForTube platform management token GFOR, which is given based on a certain ratio of the total FOR locked in the ForTube Staking contract, FOR must be locked. GFOR can only be used for governance voting and is burned when users use FOR.