What is ForTube (FOR)?
FOR is the native token of ForTube, which is a DeFi platform focused on promoting financial inclusion. It provides users with such features as on-chain payments, cross-platform asset transactions, crypto-backed staked coin insurance, token board insurance, and so on. The platform is built on the Binance Smart Chain. However, it is cross-chain, thus, it supports many chains, including Ethereum, Polygon, and others.
The ForTube ecosystem actually consists of two branches – ForTube and ForTube Bond. ForTube is a lending platform that allows users to lend or borrow crypto assets this way earning interest. ForTube Bond, on the other hand, is a Bond Financing Agreement that allows users to issue bonds or earn income by investing in the corresponding fixed-term bonds.
Furthermore, there's a ForTube Yield Farming feature that essentially allows users to engage in yield farming activities. Besides, ForTube also allows the development of decentralized applications (dApps). It offers developers an SDK and APIs that they can utilize to easily build dApps on ForTube.
The FOR crypto asset is the native utility and governance token of the platform. You can take a look at the ForTube price chart above if you care to see the current FOR price.
Use Cases of FOR Tokens
Basically, the main use case of the FOR coin is for the governance of the network. As a holder of the FOR token, you can vote on various proposals concerning the development of the project. These proposals could be on matters such as stability adjustment, global debt auctions, and so on.
Furthermore, bonds issued on the ForTube Bond platform go through a decentralized registration process. These bonds are automatically verified by the network, however, their rating is carried out by the community. In order to become eligible to rate bonds, users must hold FOR tokens in their wallets.
Who Founded ForTube?
ForTube was launched by the Force Protocol Foundation LTD. This company was founded by Pete Mardell. Pete is a graduate of Barnfield college and he has years of experience in finance, blockchain, and cryptocurrencies. He also serves as the company’s CEO.
FOR Tokenomics
FOR tokens have a maximum total supply of 1 billion. 15% of the tokens were allocated to the founders and the development team, while 30% of the tokens were reserved for the building of the community and the ecosystem. Moreover, the Force Protocol Foundation has been allocated 25% of the tokens, while the remaining 30% has been set aside for donations to charitable causes around the world.
The current FOR price is shown on the aforementioned ForTube price chart. You can check it out to see the main trends in the changes in the ForTube token value over time.
