ForTube2.0 yield farming refers to the process during which the system rewards users with the platform governance token FOR based on the ratio of the [user’s weighted net assets] to the [platform weighted net assets].
Total rewards: 85,000,000 FOR
Release speed: initial daily release amount is 500,000 FOR. Daily release amount will be timely adjusted according to [the user growth of the ForTube platform], [the growth of assets on the platform], and [the price of FOR in the secondary market].
Mining period: long-term incentives
Mining rules: weighted net assets mining
The APYs are directly related to the amount and type of deposited assets and borrowed assets. Different tokens have different incentives indexes (weights). Depositing assets with higher weights can get higher APY.
The incentive indexes of the assets that have been supported by the ForTube platform are as follows:
Please notice:
- The indexes of all the remaining assets that are not listed in the above chart are temporarily 0.
- Users can initiate proposals for adding new assets and vote on the incentive indexes of different assets every week on the ForTube governance platform: https://gov.for.tube/
- The calculation formula for the【Weighted Net Asset A】:
Vi is the deposit value of the asset i, Vj is the borrowing value of the asset j, and Fi and Fj are the mining reward indexes of assets i and j.
The calculation formula of the user’s daily mining reward is:
∑Ak is the sum of the weighted net assets of all users.
Examples:
- If a user deposited $10,000 equivalent worth of ETH (reward index is 2) and withdrew $3000 equivalent worth of USDT (reward index is 1), then the weighted net asset value of the user is 10000*2–3000*1= $17000. The user can get 【mining rewards】+【deposit interests】 dynamically according to the proportion of 【$17,000】in the【weighted net assets】of the entire platform.
- If a user deposited $10,000 equivalent worth of BNB (reward index is temporarily 0), then the weighted net asset value of the user is 10,000*0= $0. The user can get deposit interest but no mining reward.
- If a user deposited $10,000 equivalent worth of HT (reward index is 0) and withdrew $3000 equivalent worth of USDT (reward index is 1), then the weighted net asset value of the user is 10000*0–3000*1= -$3000. The user can get deposit interest but no mining reward, and need to pay the borrowing interest.
4. Account asset snapshot: The system will take a random snapshot of all users’ assets three times a day, and then take the average of the three times into the mining reward calculation.
5. Reward distribution and withdrawal: The system will distribute the rewards for the preceding day from 0 AM to 3 AM every day, and users can withdraw at any time once received the rewards.
ForTube reserves the right of the final explanation of this campaign and can change the mining rules. The changes in mining rules will be notified immediately on official social media such as the official website, Twitter, Weblog, etc.
【Mining via PC】
1. Download the Google Chrome browser and install MetaMask wallet (please visit https://www.jianshu.com/p/e7137f8daddd for detailed installation tutorial)
Note: Be sure to ensure a secure network environment and keep the MetaMask mnemonic and password. Losing the mnemonic will cause the loss of your assets.
2. Open the Google Chrome browser, visit https://for.tube, and select the Bank V2 section (see the picture below).
3. After entering the Bank2.0 homepage, click [Connect] in the upper right corner, or select [Connect] in the pop-up dialog box. Click [Sign] in the pop-up box of the MetaMask wallet to successfully connect the wallet to the ForTube platform.
Deposit assets
- Select the asset to be deposited in the [Supported tokens] section, click to enter the [Deposit/Withdraw] interface. Users need to authorize if this is the first time for them to deposit. Enter the amount of assets, click [ Deposit]
2. On the pop-up [Confirm] page, users can see the changes in assets after depositing. After confirming the information, click [Confirm].
Withdraw assets:
1. Select the asset to be withdrawn, click to enter the [Deposit/Withdraw] interface. Enter the amount of assets you want to withdraw and click [Withdraw].
Note: The user’s available amount is not only related to its own account balance but also related to the system balance. That is, users cannot withdraw the amount of assets greater than the personal [withdrawable amount] or greater than the [system balance];
2. On the pop-up [Confirm] page, users can see the changes in assets. After confirming the information, click [Confirm].
Note:
1. When users deposit, the deposited assets will first repay the loan (if any) of [this asset], and the net asset will generate deposit interest;
2. When users perform a withdrawal, the [Withdawable amount] of the token includes the [deposit amount] of the token and the [borrowable amount] based on other collaterals. Interests will be generated if there are debts after withdrawal.
3. Every deposit you make will increase your borrowable limit, and each withdrawal will reduce your borrowable limit accordingly.
View the mining rewards
Click [My BANK] to check [My mining reward] which includes [My weighted net assets], [Total reward], [Mined yesterday], [Redeemable], etc.
【Mining via Mobile Phone】
1. The following wallets support the ForTube yield farming campaign: MYKEY, BitPie, DappBirds, TokenPocket, Coinbase wallet, Trust wallet, imToken, etc.
2. Open the wallet, click the ForTube icon or input [for.tube] in the address bar to access the ForTube homepage, and select the BANK V2 section.
3. Select the token you want to deposit on the [Supported token] section, click to enter the Deposit/Withdraw page.
4. Input the amount of the asset to be deposited, click the [Deposit] to enjoy mining rewards.
5. Select [My BANK] to view real-time updates of the mining rewards.
ForTube official website: https://for.tube/
Know More About The Force Protocol：
▲Medium: https://medium.com/@theforceprotocol
▲Twitter: https://twitter.com/Force_Protocol
▲Reddit: https://www.reddit.com/r/The_Force_Protocol/
▲Github: https://github.com/thefortube
▲knowledge library of ForTube platform: https://docs.for.tube/
