What is Fortress Lending (FTS) | What is Fortress Lending token

In this article, we’ll discuss information about the Fortress Lending project and FTS token

Fortress is an algorithmic money market, and synthetic stable coin protocol designed to bring secure and trustless credit and lending to users on Binance Smart Chain.

Fortress enables investors to lend and/or borrow cryptocurrencies, by pledging the platform an over-collateralized amount of cryptocurrency. Fortress does this by utilizing money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand of each asset.

Users who choose to supply liquidity to Fortress earn compounded interest as rewards for supplying their assets to the protocol. When supplying assets, users are also given the ability to mint stable-coins, or borrow other assets against their supplied assets. Once a user has supplied assets to Fortress, the user can then borrow assets or mint stable-coins, by over-collateralizing and paying interest on the amount borrowed.

Loans from the Fortress protocol do not have monthly payments, late fees, and can be paid off at any time. Fortress is able to do this without ever requiring a credit check, with near immediate origination, using smart contracts that provide an automated, and absolutely transparent system for investment and profit distribution.

In a future Fortress update, users will be able to spend FTS tokens to reduce the interest rate when borrowing, or increase the interest rate when supplying. This mechanism will greatly empower our users to fine tune their investments, to their own personal time-scales, by allowing the user to choose how much FTS they want to spend to modify their interest rate. An example of how this is done traditionally is when people choose to spend money to buy down the interest rate on their mortgage.

Fortress unites investors, borrowers, exchanges and others, into an open and fair platform, that empowers users and unlocks billions of dollars of value, corrects market inefficiencies, and offers tremendous potential to investors and users alike.

FTS Tokenomics

The Fortress protocol is governed by the FTS token. The FTS token is launched via a small public sale using the Jetfuel Launchpad. Suppliers, borrowers, and stable-coin minters earn FTS rewards every block.

Fortress token, FTS, will have a supply of 10,000,000. The tokens will be distributed over a two and a half year time-span. There will be about 0.2473363775 tokens emitted per block, which works out to about 7,123.287671 FTS emitted per day.

The team tokens vest over a 6 month period, and the FTS token emissions will be allocated in the following manner;

Farming Rewards: 65% - 6,500,000
Borrowers: 22.75% - 2,275,000
Lending: 22.75% - 2,275,000
FAI Stable-coin: 19.5% - 1,950,000
Team: 20% - 2,000,000 - vested over 6 months
Initial Jetfuel Offering (IJO): 5% - 500,000
Reserve: 10% - 1,000,000 (to be used for initial liquidity, marketing, ect)

Supplying Assets

Fortress Protocol gives users the ability to earn compounded interest by supplying various cryptocurrency assets that can then be used as collateral for a loan, supplied as liquidity, or to mint stablecoins. Assets that are supplied as liquidity on Fortress, receive compounded interest, from every block that is produced.

On a peer-to-peer platform, or on an exchange, users’ assets are traditionally matched with others, before a transaction occurs, causing excess costs and time lost. Fortress has improved on this market inefficiency by aggregating users assets, and making assets fungible. By pooling assets, this process is able to provide much more liquidity than other platforms, unless all of the assets in a money market are borrowed, as well as gives our users the ability to withdraw their assets at any time.

This is done in a clever way, by utilizing Fortress fTokens. Assets that are provided to a certain money market, are represented by the lower case ‘f’ denomination. The fToken system enables users to tokenize their assets, and freely move the fTokens around to cold storage, other wallets, or other users.

After supplying your BTC, for example, you will receive fBTC, and you will need the fBTC in order to redeem your BTC collateral when you’re ready to withdraw.

Borrowing Assets

Fortress users can choose to borrow assets, but must first supply collateral to the protocol. When borrowing assets, users must be over-collateralized on the loan, meaning the maximum loan to value of the supplied assets must be no greater than the max collateral ratio will allow for each money market.

Fortress gives investors the ability to use your fToken collateral to borrow assets from the protocol instantly. Loans can be paid off at any time, there are no maturity dates, and there are never any trading fees, slippage, monthly payments or late fees. To pay the loan back, and retrieve your collateral, borrowers must pay off the entire origination balance, as well as any compounded interest that accrued during the life of the loan.

For example; If a user supplied $1,000 in BTC to the protocol, they will be allowed to borrow up to the max collateral ratio for BTC, which for example is 70%. This means that the user would supply $1,000 BTC, immediately begin earning compounded interest, and then be given the ability to mint or borrow $700 more in assets.

FAI Stablecoin

FAI - A decentralized, collateral-backed cryptocurrency that is soft-pegged to the US dollar.

FAI is a decentralized, collateral-backed stablecoin cryptocurrency that is soft-pegged to the US dollar, and backed by a basket of cryptocurrencies.

Fortress protocol will enable users to mint FAI, based on the amount of collateral a user has supplied to the protocol. Users can mint FAI tokens up to 50% of their supplied collateral balance (fTokens), and because FAI is a BEP-20 token, users can do what they would like with their FAI, such as staking it for more FTS tokens or adding it back into the platform as liquidity, for more rewards.

Because FAI is a synthetic stablecoin, and not backed by USD, it relies on market forces, cryptocurrency collateral, and other safety mechanisms to maintain a healthy and stable price near $1. The market is incentivized to maintain a stable peg, however if there comes a time that the price isn’t stable, a governance proposal can be passed to activate the Fortress Price Adjustment Module, that can change parameters within the FAI stablecoin system, to modulate supply and demand, and return the price to peg.

Governance

Fortress was built to adapt to market conditions, using its governance system that allows FTS token holders to vote, and decide on any changes to the platform. FTS token holders can create proposals and use their FTS tokens as voting power when proposals are up for a vote.

The implementation of changes on Fortress occurs using the FTS token contract, the Governance module, and the Timelock contract. The powerful governance system is able to modify parameters such as adding new cryptocurrency assets to the platform to be used as collateral or to borrow, adjusting interest rate models, and many other protocol enhancing measures.

Once a proposal has been created, the candidate proposal will be voted on for three days, and if the proposal passes, a two day timelock will occur before the changes are made to the platform. This allows the platform to adapt while also giving investors peace of mind that the platform won’t change without enough notice.

How and Where to Buy Fortress Lending (FTS) ?

FTS token is now live on the Binance mainnet. The token address for FTS is 0x4437743ac02957068995c48e08465e0ee1769fbe. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough BNB in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps

☞What is Metamask wallet | How to Create a wallet and Use

Transfer $WBNB to your new Metamask wallet from your existing wallet

Next step

Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap FTS token

Contract: 0x4437743ac02957068995c48e08465e0ee1769fbe

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FTS gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
  ☞ https://www.poloniex.com
  ☞ https://www.bitfinex.com
  ☞ https://www.huobi.com

Find more information FTS

☞ Website ☞ Explorer ☞ Whitepaper ☞ Social Channel ☞ Documentation ☞ Coinmarketcap

🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you’re a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

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