ForTube Introduction
A leading DeFi lending platform based on The Force Protocol, ForTube is committed to providing decentralized lending services for crypto asset enthusiasts around the world. It supports a majority of popular assets in the world.
ForTube is built on Smart Contracts and automated algorithm technology. Users can deposit to earn interests, mortgage and borrow digital assets.
oBTC Introduction
oBTC is a decentralized BTC anchor token issued by BoringDAO, which is anchored 1:1 with BTC. In order to ensure the security of anchored assets, oBTC adopts a three-layer pledge model, which are asset layer, contract layer and application layer. The asset layer is managed by the community with multi-signature, the contract layer has excess ERC-20 assets as additional mortgage, and the application layer accesses Nsure and COVER to underwrite oBTC. At the same time, the entire redemption process of BTC and oBTC does not use any centralized server, and completely relies on Bitcoin and Ethereum networks, and the redemption channel is very smooth.
How to earn more profit?
At present, ForTube’s APY for oBTC lending is around 2%. When lending currency, users will receive 0.3 USDT equivalent in FOR as interest for every 1,000 USDT in the value of their daily lending assets. The APY of all currency loan mining is up to 10.95%.
Operation Steps:
Step 1: Lend oBTC on ForTube
Take the imToken wallet as an example:
Open the wallet, find the ForTube Application on the home page and click to enter.
Wallets currently supported by ForTube
PC Version: MetaMask
App Version: imToken，MYKEY，Bitpie，Huobi Wallet, DappBirds，TokenPocket，BitKeep，Math Wallet，HyperPay，AToken，MEET.ONE，Coinbase wallet，Trust wallet
1: On the [Supported token] page, choose the assets that you want to mortgage. Click to enter the [Deposit/Withdraw] page, and fill in the assets amount that you want to deposit. Click [Deposit].
2: On the [Supported token] page, choose oBTC assets, click to enter the [Deposit/Withdraw] page, and fill in the assets amount that you want to lend. Click [Lend].
Step 2: Deposit the loaned oBTC to other platforms to earn profit
Public Profit Mining Projects:
- oBTC Farm: In Boring Farm’s 2 pools, the current APY of oBTC is 26.9%, there is no impermanence loss, and only staking mining.
2. Curve: Currently (oBTC, [sbtcCRV]) Metepool’s Signal proposal has been passed, and oBTC will support CRV & BOR dual mining in Curve in the near future.
Risk Warning
If the price of the collateral falls, it may put the CDP account at risk. At this time, it is necessary to increase the collateral or return part of the oBTC to reduce the risk of CDP liquidation.
▲Announcement channel: https://t.me/the_force_announcement
▲Medium: https://fortube.medium.com/
▲ForTube website: https://www.for.tube/home
▲Twitter: https://twitter.com/ForTubeFi
▲Github: https://github.com/thefortube
▲knowledge library of ForTube platform: https://docs.for.tube/