What Is Fountain Protocol(FTP)? Complete Guide Review About Fountain Protoco

What Is Fountain Protocol(FTP)?

Fountain Protocol(FTP) is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Oasis Network. Fountain enables users to by utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin.

Fountain Protocol(FTP) difference of Fountain from other money market protocols is the ability to use the collateral supplied to the market not only to borrow other assets but also to mint synthetic stablecoins with over-collateralized positions that protect the protocol. These synthetic stablecoins are not backed by a basket of fiat currencies but by a basket of cryptocurrencies. Fountain utilizes the Oasis Network for fast, low-cost transactions while accessing a deep network of wrapped tokens and liquidity.

Fountain Protocol Storage Key Points

FTP Token

Fountain Protocol Fountain Protocol native and governance tokens The FTP token is the native token of the Fountain Protocol and oversees the entire ecosystem of the Fountain Protocol including future iterations of the protocol. This is the contract address of the protocol: 0xd1dF9CE4b6159441D18BD6887dbd7320a8D52a05

Governance

Fountain Protocol is required to vote and decide on the outcome of proposals through Fountain Improvement Proposals. The protocol will initially be governed by the founding team, and will eventually transition to a Decentralized Autonomous Organization (DAO). As part of the DAO, holders of the FTP token will be able to initiate proposals and vote on issues that will steer the direction of the protocol.

Examples of parameters that could be voted on:

• Update the interest rate model per market
• Withdraw the reserve of a fToken and the addition of assets that meet the risk requirements of the protocol
• Risk parameters for overcollateralization and liquidation
• Changes to the Liquidity Mining to adjust incentives depending on market conditions

Leverage Trading

Fountain Protocol Using a lending platform to go long or short a certain asset is a very common investment strategy, and Fountain Protocol provides a trading scenario for lending by adding the function of one-click leverage, while providing traders with leveraged trading services. This can greatly increase the frequency and size of lending and borrowing, thus increasing capital efficiency.

Cross-chain Lending

Fountain Protocol It is the intention that Fountain Protocol will be the borrowing and lending platform across blockchains. The protocol will allow users to leverage assets across blockchains to be used for borrowing and lending activities. In simple terms, users can supply assets in chain A and assets in chain B, thus participating in enjoying the mining revenue of chain B. This particular innovation will have the major advantage and broaden the number of assets are able to cover and where offer services.

fTokens

Fountain Protocol Interest-bearing collateral tokens of the Fountain Protocol When tokens are supplied to the Fountain Protocol’s various markets, corresponding fTokens are minted and received by the supplier’s wallet (eg. ROSE mints fROSE). Whenever a user mints, redeems, borrows, repays, or liquidates an account, they are doing so through an interaction with the relevant fToken contract.

Fountain Protocol All token markets on Fountain Protocol have their own supply interest rate. By holding a fToken for one block or greater, the custodian automatically earns interest paid by borrowers of the asset that is expressed in an increase in the value of the fToken against its corresponding underlying asset.

How to Transfer ROSE into Emerald ParaTime

Step 1. Install the Oasis Wallet Browser extension, restore your existing or create a new Oasis wallet. Read this tutorial to learn how to Install and set up Oasis Wallet.

Step 2. Once done, you can deposit your ROSE to Emerald ParaTime. Navigate to the “ParaTimes” tab and click the “Receive” button. Then scan the QR code or copy the wallet address to deposit your ROSE to Emerald ParaTime.

Step 3. You can now transfer your ROSE to MetaMask. Navigate to the “ParaTimes” tab. Notice two ParaTimes: Emerald and Cipher with the corresponding ParaTime IDs. Under Emerald click on the “To ParaTime” button.

Is Fountain Protocol safe?

Fountain Protocol As with all cutting edge financial services, there are elements of risk to interacting with cryptocurrency and platforms such as Fountain Protocol. The most pressing of these are smart contract vulnerabilities that affect the platform and the liquidation risk faced by users. No platform should be considered 100% safe.

Fountain Protocol Charge

Fountain Protocol Supplying assets to Fountain Protocol is free. There is, however, a small, asset-specific fee generated from interest spreads. Referred to as the Reserve Factor, these fees are used to support the ecosystem and contribute to its growth. The reserve factor used for each asset is recorded within this document.

How to buy $FTP?

Fountain Protocol $FTP is listed on YuzuSwap. You can trade FTP on YuzuSwap . For first time users on YuzuSwap, you may refer to the to view how to trade tokens on YuzuSwap. Here is the address for Fountain Protocol token (FTP): 0xd1dF9CE4b6159441D18BD6887dbd7320a8D52a05. Please be aware that there might be fraudulent FTP tokens.