What Is Fortress Lending (FTS)?
Fortress Lending Credit and Lending (“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 (“BSC”). Fortress enables investors to lend and/or borrow cryptocurrencies by pledging the platform an overcollateralized amount of cryptocurrency. This provides investors with the ability to lend assets and earn a compounded annual percentage yield (“APY”) that is paid for by the borrowers.
Fortress Lending 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. Investors can lend or borrow assets on Fortress and earn or pay interest without ever needing to negotiate anything such as the maturity date, interest rate, or collateral with a peer or a third party.
Fortress Lending Storage Key Points
|Coin Name||Fortress Lending|
|Circulating Supply||5,845,596.74 FTS|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Fortress Lending 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 initial FTS token emissions will be allocated in the following manner;
Farming Rewards: 65% – 6,500,000
- Borrowers: 22.75% – 3,250,000
- Lending: 22.75% – 3,250,000
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)
Fortress Lending was designed to securely and efficiently enable users the ability to borrow and lend cryptocurrency assets. 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 assets are supplied to Fortress, users can then borrow assets or mint stable-coins by over-collateralizing and paying interest on the amount borrowed per block. Loans from the Fortress protocol do not have monthly payments or late fees, and can be paid off at any time. Fortress is able to do this without ever requiring a credit check, and with near immediate origination, by using smart contracts that provide an automated and absolutely transparent system for investment and profit distribution
Fortress Lending 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
Fortress was built to adapt to market conditions using its governance system that allows FTS token holders to vote and decide on 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 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.
Fortress protocol was created by Jetfuel Finance. They are a very experienced team composed of 10 seasoned entrepreneurs, solidity developers, full stack developers, designers, project managers, and marketers. They have over 30 combined years of experience in blockchain and DeFi, and have launched projects that have created millions in value for their respective token holders.