For Tube Finance (FOR)

Basics

• Aka The Force Protocol
• Based in: Singapore but is Chinese.
• Announced on:
• Mainnet release: 5-2019

• From CoinGecko (24-6-2021):

"ForTube is a part of The Force Protocol’s ecosystem, alongside Qian Protocol. ForTube is a decentralized lending protocol, similar to Compound and Aave. Currently, it has two main products: BANK and BOND."

Token

Token allocation

• From their docs (3-2021):

"60% of all lending pool income will be distributed to the $fDAO token holders to encourage them to participate in governance and cover risks. At the same time, 10% of all lending pool income will be distributed to the marketing team to incentivize users who contribute to the ForTube protocol."

Utility

• FOR is the governance token for ForTube.

Technology

• Whitepaper can be found here.
• Code can be viewed here.

Implementations

• Built on: Ethereum and BSC

Oracle Method

• From their docs (3-2021):

"ForTube V3 will once again upgrade and optimize the oracle system, using a combination of decentralized oracles and self-feeding."

Governance

• From Morioh (1-2021):

"The Force Foundation will be in charge of the security of all cryptoassets raised, and support The Force Protocol development and operations teams building. If profit was generated, it will be retained as fund for community activities, rather than being distributed among members.

Since it’s at the development stage, the platform handles governance issues through developers. Currently, the developers decide on supported virtual currencies, credit rating setting, bond duration, repayment grace period, among other parameters.

However, being a decentralized platform, ForTube is keen on introducing community involvement in governance issues."

Roadmap

• Can be found here. With as last stop "2021 Launch the pilot business of crypto bonds for entities., obtain financial licenses, and introduce more physical assets to ForTube."

Audits

• Bug bounty program can be found here with rewards up to $6000.
• From their docs (3-2021):

"ForTube has created an off-line security audit mode and passed the audit of three major security companies, namely CertiK, Peckshied and SlowMist. See the audit reports ."

• Scored a 75% on DeFi Safety (11-2020); "​Fortube was released in August 2020. Slowmist conducted an Audit on their BOND smart Contract in May 2020. Slowmist conducted an Audit on their Token FOR Smart Contract in June 2020." And as a comment: "Testing and docs were their weak points.  They had trouble with the addresses, but they fixed them.  That's the spirit."
• This got changed (10-2-2021) into a score of 27%:

"As ForTube has not published their smart contract addresses (and we emailed them back in November) their audit score is 0% as perr our process. If in future they publish their result the score will be 50% given their audit was published after deployment with significant issues, see below.

Fortube was released in August 2020.

Slowmist conducted an Audit on their BOND smart Contract in May 2020. The audit had a significant number of notable findings and no indication of corrections.

Slowmist conducted an Audit on their Token FOR Smart Contract in June 2020."

With the comment "No contract addresses so no score for audits. We gave them time to correct, but they did not respond."

Competition

• Aave, Compound and Notional Finance.

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

Partners 

• Mentioned (12-7-2021) as a partner on the website of DFI.Money (YFII)

(:

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