FOR (The Force Protocol) is a distributed encrypted digital financial service protocol, based on the mainstream public chain system and the underlying cross-chain protocol, through the abstraction and encapsulation of distributed financial business processes, with SDK and API form, empowering the development of decentralized financial applications with a one-stop solution. Provide solutions for financial needs such as cross-platform asset circulation, transaction depth sharing, stable currency issuance mortgaged by cross-chain encrypted assets, token bond issuance, on-chain payment, and transaction clearing and settlement.

Project Introduction

The Force Protocol is an encrypted and open financial service protocol based on the mainstream blockchain system. It consists of a set of DeFi technology components and multiple tokenization protocols. The Force Protocol is committed to providing global users with secure, inclusive, innovative and transparent encrypted and open financial services.

Project Vision

The Force Protocol team is developing a decentralized encrypted digital asset mortgage lending protocol based on the Ethereum network - The Force Protocol. The Force Protocol provides support for building a decentralized lending platform. The platform based on this protocol (hereinafter referred to as super node) can realize the global sharing of loan orders and greatly enhance the depth of transactions. The agreement also supports supernodes to build a stable currency system within the scope of supervision after government approval. In response to the money laundering phenomenon in the field of encrypted digital assets and the price fluctuation of encrypted digital assets, The Force Protocol also designed anti-money laundering strategies and methods for users to reduce asset losses in the context of rapid liquidation.

Project Highlights

DeFi Technology Components

Aiming at the deficiencies in the development of Ethereum DApps, such as difficult contract upgrade and iteration, solidified data structure, slow interaction on the chain, poor user experience, lack of necessary infrastructure, and prominent security issues, The Force Protocol proposes basic components, extensions, etc. The three major DeFi technology components, component and financial component, are collectively referred to as "Force".

•Basic components - APEC

APEC (Assets Protected Elastic Contracts, asset security elastic smart contracts) as the core architecture on the chain, based on Solidity smart contracts, on the premise of adhering to decentralization and asset ownership, the inconvenience in contract development has been eliminated Adjust and optimize. APEC includes three features: asset security, logic upgradeability, and data scalability.

•Extension components——BEAMS

BEAMS (Blockchain Enquiring, Auditing & Messaging System) is an off-chain system that closely cooperates with contracts, continuously monitors the operation of contracts, audits data and assets, speeds up product response, and enables The fluctuation curve of the response speed tends to be smooth, making the inevitable asynchronous feedback smoother and more fluid.

•Financial components - GEL&CALM&MAK

The financial component includes three parts: GEL (Global Emergency Lockdown, Global Emergency Lockdown), CALM (Cooperative Automatic Lockdown Mechanism, Cooperative Automatic Lockdown Mechanism), and MAK (Multisig Admin Keys, multi-signature administrator key). Protect the platform from attacks and intrusions; if it is compromised, protect the assets; if the assets are no longer safe, minimize the loss.

Application scenario

For tokens can not only effectively promote the operation of the ecosystem, but also serve as a carrier for the autonomy of decentralized organizations. In The Force Protocol ecosystem, FOR tokens will play the following roles:

Transaction fee deduction

In the Force Protocol system, when the loan order is matched and matched, the smart contract will deduct a small amount of pending order tokens from both the borrower and the lender, and send them to the supernodes that submitted the orders of both parties respectively, as the service fee income of the supernodes. Under normal circumstances, the handling fee is 0.5%, which is charged in both directions. When the user holds FOR tokens, the smart contract will calculate the preferential amount of the service fee based on the user's currency holdings, and then deduct the user's FOR payment service fee. In order to prevent the supernodes from selling to the market after collecting the FOR fee, the Force Protocol system will set a freeze period for each FOR obtained in the form of a fee. After the freeze period is over, the supernode will get the formalities. In order to avoid the centralized selling of FOR by super nodes, and to stabilize the ecology of The Force Protocol.

Super node pledge lock position

In The Force Protocol system, each super node needs to pledge a certain amount of FOR tokens when it goes online, and these tokens will be managed by a special smart contract. The smart contract will also regularly scan the pledge level of the supernode FOR tokens. If the pledged amount is lower than the minimum value required by the system, the supernode will receive a notification to supplement the pledged assets. If the node does not replenish the pledged FOR within the specified time, the system will submit the information to the arbitrator according to the preset conditions to judge whether the node can perform its functions normally. If the judgment result is negative, the arbitrator will submit the deletion to the community governance system. The proposal of the super node.

Loan Mining

In order to promote users' mortgage lending, we reserve the strategy of transaction mining of FOR tokens, and the development team will submit a detailed plan on transaction mining to the community governance mechanism at an appropriate time after the platform goes online. The content of the plan will include a series of key factors such as the total amount of transaction mining, rules, and time. After community discussion and decision-making, voting will be carried out. After the plan is passed, it will be implemented as planned.

Collateral

We will promote FOR to be listed on mainstream global exchanges at the right time. It is expected that FOR will become the main collateral in The Force Protocol ecosystem and will be favored by borrowers and investors. When FOR is used as a loan collateral, it will enjoy a preferential pledge rate and fee deduction. For this part, please refer to the "Transaction Fee Deduction" and "Increasing Loan Pledge Rate" chapters for details.

Increase loan pledge rate

If users use FOR as loan collateral, they can enjoy a certain floating rate above the basic pledge rate. Users can obtain more loans. This setting can promote the use of FOR and increase users' stickiness to The Force Protocol services. The specific value of the pledge ratio will have a preset value at the beginning of the system launch. As the loan orders continue to accumulate, we may modify the pledge ratio of FOR to a more reasonable value and submit it to the community for voting.

Community Governance

FOR is the only tool for The Force Protocol community members to participate in community voting. First of all, when any important matter needs to be submitted to the community governance committee for discussion, the proposer must hold FOR. When submitting the proposal, a certain amount of FOR must be mortgaged to a special smart contract before the proposal can be submitted to the community discussion forum. Community token holders can submit revision suggestions on the content of the proposal within a certain period of time, and all changes will form an iterative version and be recorded by the blockchain. After the specified time limit is over, FOR token holders will vote on the proposal content, and all FOR that participated in the lock-up will not be counted in the vote warehouse, and different proposals need to meet the specific number of votes to be passed. All FOR used for voting will be locked by the smart contract for a certain period of time, and temporarily withdraw from the circulation system for a period of time.

Asset mortgage on chain

As a decentralized mortgage lending platform, The Force Protocol welcomes all encrypted assets that are in line with the interests of community users to go online for lending transactions. However, in order to prevent some "air coins" and "liar coins" from being launched on the platform, they occupy the public computing resources of the community. We will also set up a mechanism for all collaterals listed on The Force Protocol, except BTC, ETH, XRP, BCH, EOS, XLM, LTC, ADA, XMR, TRX, DASH, BNB, NEO, ONT, ETC, XEM, Except for mainstream currencies such as ZEC, USDT, USDC, TUSD, GUSD, PAX, etc., all FOR tokens need to be held and mortgaged by the manager of encrypted assets, and can only be launched as collateral after voting by the community. We must ensure that all encrypted assets listed on The Force Protocol platform are in the interests of the community, and all encrypted assets that may harm the interests of the community will be prohibited from being listed as collateral.