DOS Network Partners Up with The Force Protocol (ForTube)
The DOS Network team is excited to announce that DOS Network has officially reached a strategic and technical partnership with The Force Protocol (https://www.theforceprotocol.com), one of the leading open finance service protocols.
DOS Network and The Force Protocol will collaborate closely together and are both fully committed to building and growing the DeFi space. We are pleased and honored to have the opportunity to work alongside such a great team.
The focal point of this partnership is ForTube, The Force Protocol’s DeFi platform, which provides cost-effective crypto asset investment, financing, and trading services to users worldwide. The Force Protocol team has integrated their bond financing protocol (BOND), crypto lending protocol (BANK), and decentralized stablecoin protocol (QIAN) into ForTube, offering a smooth and rewarding user experience in a comprehensive package.
A significant challenge for ForTube pertains to the collection of trustworthy off-chain data — one of the major bottlenecks of distributed open financial protocols. For example, in a lending context very much applicable to ForTube’s BANK protocol, both the borrower and lender need to determine the interest rate based on the market value of the collateral assets involved, and the value of the collateral has to be continuously updated with off-chain price data to ensure the timely execution of the collateral trust contract.
Reliable collection of price data is evidently important, but there are many problems with traditional approaches to price data collection. Before the advent of trusted oracle networks, price data collection was susceptible to cyber attacks from adversaries and malicious actors. More importantly, the data could easily be tampered by various data providers in the chain of custody. The consequences of such are financially catastrophic and compromise the integrity of DeFi. Furthermore, as soon as a DeFi protocol relies on a single centralized oracle, it becomes a single point of failure (SPOF), and any potential benefits associated with decentralization are lost completely.
This is where DOS Network comes in and saves the day. As a decentralized oracle network, DOS Network assumes the role of the data provider for ForTube in this partnership. DOS Network’s mission is to become the go-to decentralized oracle for all DeFi protocols, and this is a significant opportunity for the project to showcase its true, trailblazing capabilities to the DeFi world.
ForTube’s products have the need to frequently fetch token prices in order to calculate the value of assets for various clients. DOS Networks’ decentralized oracle is being integrated into the ForTube BANK protocol to provide a price feed of different crypt assets. This data channel will be secure, fast, and work flawlessly with all the technical components of ForTube. The cost of this service is significantly lower than many of our major competitors, which certainly appealed to The Force Protocol team as well.
We genuinely believe that this partnership will be monumental for both parties. The Force Protocol team has adopted and embraced a transparent, open-source development strategy, which fully aligns with DOS Network’s mission statement and vision. DOS Network will strive to help The Force Protocol become a global-scale, distributed crypto financial service platform, and opportunities in DeFi for DOS Network are, without a doubt, endless.
Join the DOS Network community to always be in the loop!
Website: https://dos.network/
Twitter: https://twitter.com/DOSNetwork
Telegram: http://t.me/dosnetwork_en
— — — — — — — — — — — — — — — — — — — — — -
Want to stake your DOS tokens? Check out the DOS dashboard here: https://dashboard.dos.network/explorer
The staking tutorial is here: https://medium.com/dos-network/dos-network-mainnet-staking-function-officially-launched-4bf59ec1c532
— — — — — — — — — — — — — — — — — — — — — -
Trade DOS tokens on BKEX, BitMax, Uniswap, Gate.io, and Poloniex!
BKEX: https://www.bkex.com/trade/DOS_USDT
BitMax: https://bitmax.io/#/basic/cashtrade-spottrading/usdt/dos
Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x0a913bead80f321e7ac35285ee10d9d922659cb7
Gate.io: https://us.gate.io/trade/DOS_USDT
Poloniex: https://poloniex.com/exchange/USDT_DOS
