FOR (The Force Protocol, originally known as the Force Protocol) is a distributed cryptographic digital financial service protocol. Built on mainstream public blockchain systems and underpinned by a cross-chain protocol, it abstracts and encapsulates decentralized financial business processes. Provided in the form of SDKs and APIs, it empowers the development of decentralized financial applications with an all-in-one solution. It provides solutions for cross-platform asset transfers, shared trading depth, stablecoin issuance backed by cross-chain crypto collateral, token bond issuance, on-chain payments, and trade settlements.

Project Introduction

The Force Protocol is a cryptographic open financial service protocol built on mainstream blockchain systems, consisting of a suite of DeFi technology components and multiple tokenized protocols. The Force Protocol is committed to providing secure, inclusive, innovative, and transparent cryptographic open financial services to users worldwide.

Vision

The team behind the Force Protocol is developing a decentralized cryptographic digital asset collateral lending protocol on the Ethereum network – the Force Protocol. This protocol supports the creation of decentralized lending platforms, enabling global sharing of lending orders to significantly enhance trading depth. The protocol also facilitates the establishment of regulated stablecoin systems by super nodes after government approval. In response to money laundering and the volatility of cryptographic digital assets, the Force Protocol has designed anti-money laundering strategies and methods to reduce asset losses during rapid liquidations.

Key Features

DeFi Technology Components

To address shortcomings in Ethereum DApp development, such as difficulties in upgrading contracts, rigid data structures, slow on-chain interactions, poor user experiences, lack of necessary infrastructure, and security issues, the Force Protocol introduces three DeFi technology components: basic, extension, and financial components, collectively known as "Force."

•Basic Component - APEC

APEC (Assets Protected Elastic Contracts), as the core on-chain architecture, builds upon Solidity smart contracts. While upholding decentralization and asset ownership, it adjusts and optimizes inconvenient aspects of contract development. APEC encompasses three features: asset safety, upgradable logic, and extensible data.

•Extension Component - BEAMS

BEAMS (Blockchain Enquiring, Auditing & Messaging System) is an off-chain system that closely complements contracts, continuously monitoring their operation, auditing data and assets, accelerating product response times, smoothing out response time variability, and ensuring smoother asynchronous feedback.

•Financial Component - GEL, CALM, MAK

The financial component includes GEL (Global Emergency Lockdown), CALM (Cooperative Automatic Lockdown Mechanism), and MAK (Multisig Admin Keys). These protect platform security from attacks and intrusions; if intrusions occur, they ensure asset safety; and if assets are no longer safe, they minimize losses.

Use Cases

FOR tokens not only facilitate the ecosystems operation but also serve as a carrier for decentralized organizational governance. Within the Force Protocol ecosystem, FOR tokens will play the following roles:

Transaction Fee Discounts

Within the Force Protocol framework, when matching and executing loan orders, smart contracts deduct a small amount of the listed tokens from both borrowers and lenders. These fees are sent to the super nodes that submitted the orders as service income. Typically, the fee is 0.5%, charged bidirectionally. When users hold FOR tokens, smart contracts calculate a discount based on their token holdings and then deduct FOR tokens as payment for fees. To prevent super nodes from dumping FOR tokens on the market after collecting fees, which could depress their value, the Force Protocol system sets a lock-up period for every batch of FOR tokens collected as fees. Super nodes receive their fee income after the lock-up period ends, preventing them from selling FOR tokens en masse and stabilizing the Force Protocol ecosystem.

Super Node Staking

In the Force Protocol framework, each super node must stake a certain number of FOR tokens when launching. These tokens are held in custody by a dedicated smart contract. The smart contract regularly checks the super node’s FOR token staking levels. If the staked amount falls below the minimum required by the system, the super node receives a notification to replenish its staked assets. If the node fails to do so within the specified timeframe, the system submits information to arbitrators according to predefined conditions to determine whether the node can continue functioning properly. If the determination is negative, arbitrators submit a proposal to the community governance system to remove the super node.

Lending Mining

To encourage collateralized lending, we reserve the strategy of FOR token mining through transactions. At an appropriate time after the platform launches, the development team will submit a detailed plan about transaction mining to the community governance mechanism. The plan will include total mining amounts, rules, timelines, and other critical factors. After community discussion and decision-making, a vote will be conducted, and if approved, the plan will be executed accordingly.

Collateral

We plan to list FOR on major global exchanges at an appropriate time, making it a primary collateral asset within the Force Protocol ecosystem, favored by borrowers and investors alike. When used as collateral for loans, FOR tokens benefit from favorable collateral ratios and fee discounts, as detailed in the "Transaction Fee Discounts" and "Enhanced Borrowing Collateral Ratio" sections.

Enhanced Borrowing Collateral Ratio

If users use FOR tokens as collateral for borrowing, they receive an enhanced collateral ratio above the base level. Users can borrow more, which encourages the use of FOR tokens and increases user stickiness to Force Protocol services. The specific collateral ratio values will have a preset value initially, which may be adjusted to more reasonable numbers as loan orders accumulate. Any changes will be subject to community voting.

Community Governance

FOR tokens are the sole tool for Force Protocol community members to participate in community votes. When important matters need to be discussed by the community governance committee, proposers must hold FOR tokens and pledge a certain amount to a dedicated smart contract before submitting proposals for community discussion. Community token holders can submit modification suggestions within a set time frame, with all changes forming iterative versions recorded on the blockchain. After the designated time limit, FOR token holders vote on the content of the proposals. All locked FOR tokens are excluded from the vote count, and different proposals require specific vote thresholds to pass. All FOR tokens used for voting are locked by smart contracts for a certain period, temporarily exiting circulation.

Asset On-Chain Collateral

As a decentralized collateral lending platform, the Force Protocol welcomes all cryptographic assets that align with community user interests for lending transactions. However, to prevent “air coins” or “scam coins” from using the platform and occupying public computing resources, we will implement a mechanism. All collateral assets listed on the Force Protocol, except for mainstream cryptocurrencies like BTC, ETH, XRP, BCH, EOS, XLM, LTC, ADA, XMR, TRX, DASH, BNB, NEO, ONT, ETC, XEM, ZEC, USDT, USDC, TUSD, GUSD, and PAX, must be accompanied by the management entity staking a portion of FOR tokens. After passing a community vote, these assets can be listed as collateral. We must ensure that all cryptographic assets listed on the Force Protocol platform are aligned with community interests, and any assets potentially harmful to the community will be prohibited from being listed as collateral.