ForTube
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ForTube

ForTube 2.0 Beta User Guides

Open the ForTube website https://www.for.tube/ on a PC.

Before starting debt issuance, investment, rating and liquidation, users need to connect to the wallet according to the instructions on the page and switch the wallet network to the “Rinkeby testnet”.

Ⅰ. Issue bond

1. Apply for bond issuance

Select the “ Issue bond” module on the Bond homepage, enter the bond issuance page, fill in and submit the complete form information as required for bond issuance. The specific operation processes are as follows:

1.1 Select the token and fill in the amount of bond issuance. The amount only supports integer multiples of 100 and not less than 10,000;

1.2 Select the annual interest rate and Duration;

1.3 Select the supported pledged token, and confirm its current price information as well as corresponding quantity information that needs to be pledged;

1.4 Briefly describe the financing purpose and source of repayment and choose the lowest financing ratio. It should be noted that if the actual financing ratio is lower than the set minimum financing ratio, the bond issuance will fail;

1.5 Confirm the issuance fee and all the above information, click “Next”;

2. Confirm bond issuance

Carefully confirm all the application information filled in on the confirmation page, and transfer pledge into the account according to the:

2.1 Click the button “Transfer into pledged tokens and issue bonds”, the transaction will jump to the wallet. Complete the authorization in the wallet, transfer the pledged tokens and wait for the contract to be confirmed. The waiting process takes about 1- 10 minutes;

2.2 After the contract is confirmed, the bond issuance application is submitted successfully. The bond issuer can view the bond issue record in “My Bond Issuance” within 1–2 minutes.

3. Bond management

The whole cycle of bonds is divided into four stages: “application and pledge-rating-financing-repayment”. In “My Bond Issuance”, the issuer can track the status and information of the bond at different stages.

3.1 After the bond issuance application is submitted successfully, the bond enters the rating stage.

The bond rating process will last for 48 hours. Within the validity period, the bond must have two types of rating information: professional rating and community voting of not less than 100,000 FOR; after the end of the validity period, the final rating of the bond is determined according to the proportion of votes of professional rating and community rating. The level is used as a reference for bond investment.

If the final rating is D-level, the bond issuance will fail and the issuer can retrieve the pledged tokens.

3.2 After obtaining the final rating level (non-D level), the bond enters the financing stage.

The financing process will last for 48 hours. If the financing ratio meets the minimum financing ratio set by the issuer within the validity period, the financing will be successful; otherwise, the financing will fail.

At this stage, the issuer should pay attention to the value fluctuations of its pledged tokens, and promptly replenish the pledged tokens according to the prompts to avoid financing failures caused by the pledged tokens’ value falling by 30% and not being replenished in time.

If the financing fails, the bond issuer can retrieve the pledged tokens.

3.3 After the bond financing is successful, the bond enters the repayment stage.

At this stage, the issuer needs to transfer the principal and interest on the bond expiration date (that is, the repayment date).

If the issuer fails to make timely repayment within 24 hours after the bond expires, the overdue bond will be liquidated to repay the investor’s principal and interest.

In the repayment stage, the issuer should also pay attention to the value fluctuations of its pledged tokens, and promptly replenish the pledged tokens according to the prompts to avoid the liquidation of some pledges caused by the pledged tokens’ value falling by 30% and not being replenished in time.

3.4 After the bond is repaid successfully, the bond cycle ends and the issuer can retrieve the pledged tokens.

Ⅱ. Investment

1. Complete an investment

Select the “Investment” module on the Bond homepage to enter the investment page. Everyone can invest in bonds to obtain the expected return but issuers are not allowed to invest in the bonds issued by themselves.

The specific investment operation processes are as follows:

1.1 Find the target bond in the investment list and click “Invest Now” to enter the bond details;

1.2 Check and confirm the details on the bond details page, fill in the number of bonds to be purchased. The minimum amount of investment is 1. After confirming the investment amount and estimated interest income, click “Invest Now”;

1.3 The investment transaction will jump to the wallet. After completing the fund transfer in the wallet, investors need to wait for the contract confirmation. The waiting process will take about 1–10 minutes;

1.4 After the transaction contract is confirmed, the investment is successful. Investors can check the investment record in “My-My Investment” within 1–2 minutes.

2. Investment management

In “My Investment”, investors can track the status and information of individual investments.

2.1 If the bond financing is successful, the bond will start to calculate interest on the value date, and investors can track bond repayment and other information in the investment record details;

If the bond financing fails, investors can retrieve their investment principal.

2.2 If the bond is repaid successfully, investors can retrieve the investment principal and interest.

If the bond is overdue but not repaid, investors can retrieve the principal and interest of the investment according to the actual situation after the bond is liquidated.

2.3 BondToken

After the bond financing is successful, investors will receive the BondToken corresponding to its investment share in the wallet address, and investors can check after adding BondToken contract address into the wallet.

Ⅲ. Rating

1. Participate in ratings

Select the “rating” module on the Bond homepage to enter the rating page. Professional raters (or institutions) and community members can participate in the rating, but the issuer is not allowed to rate their bonds.

For professional raters (or institutions), the rating operation processes are as follows:

1.1 Go to the rating page, find the target bond in the rating list, and click “Participate in Rating” to enter the rating details page;

1.2 On the rating details page, check and confirm the bond information, click “ Rating”, select the rating level, fill in the reason for the rating, and click “Save” to complete the rating; users can click “My Rating” within 1–2 minutes to check the rating record.

It should be noted that each bond waiting for professional rating can only be given a rating opinion by a professional rater (or institution), and the rating opinion can only be edited once. Professional raters need to operate carefully.

For community raters, the rating operation processes are as follows:

1.1 Go to the rating page, find the target bond in the rating list, and click “Participate in Rating” to enter the rating details page;

1.2 On the rating details page, check and confirm the bond details, select the rating level, fill in the number of votes. The minimum lock position is 1000FOR. After confirming the wallet balance and the above information, click “Vote Now”;

1.3 The locked transaction will jump to the wallet. After completing the fund transfer in the wallet, users need to wait for the transaction contract confirmation. The waiting process takes about 1–10 minutes.

1.4 After the transaction contract is confirmed, the voting operation is successful. Users can check the voting record in “My Rating” within 1–2 minutes.

2. Certified as a professional rating agency

Both the participating rating page and my rating page can be redirected to the certification page through guidelines. Users can submit information according to the page prompts. The specific steps are as follows:

2.1 Lock 1 million FOR tokens to the system. Locked tokens cannot be retrieved during the rating period;

2.2 Send the materials that can prove your professional qualifications to fortubedeveloper@gmail.com, with your current wallet;

2.3 After the ForTube developer approves, the user certification is successful and professional rating operations can be performed.

3. Rating management

On the “My Rating” page, users can track the status and information of individual votes.

3.1 For professional raters (or institutions):

If the final financing of the bond is successful, users can get a corresponding proportion of the service fee after the bond is repaid;

If the final financing of the bond fails, it will not affect the user’s participation in the professional rating operation of other bonds.

3.2 For community raters:

If the bond is finally financed successfully, users can retrieve the lock-up FOR on the rating record details page. After the bond repayment is completed, users can get service fee according to the lock-up ratio;

If the final financing of the bond fails, users can retrieve the lock-up FOR on the rating record details page. It will not affect the user’s participation in the community rating operation of other bonds, but users can not receive service fee.

3.3 If the final rating of the bond does not pass (the rating is D), users can retrieve the lock-up FOR on the rating record details page, but can not receive service fee.

4. Liquidation

  1. Participate in liquidation

On the Bond homepage, select the “liquidation” module to enter the liquidation page. When the bond triggers partial liquidation or overdue liquidation, users can participate in the pledge liquidation at a discount rate, but issuers are not allowed to do liquidation operations for their bonds.

The specific operation processes of liquidation are as follows:

1.1 Find the target bond in the liquidation list and click “ Liquidate”.

1.2 On the liquidation details page, check and confirm the bond liquidation information, enter the target amount that needs to be liquidated. The minimum unit of the liquidation target amount is 1;

1.3 After confirming the information on the page, click “Liquidate Now”. The transaction will jump to the wallet. After completing the fund transfer in the wallet, users need to wait for the transaction contract confirmation. The waiting process takes about 1–10 minutes;

1.4 After the transaction contract is confirmed, the liquidation operation is successful.

Click the following icon in the menu bar to subscribe to account updates and platform notifications through reserved mailboxes.

That’s all. Thanks for your support and participation.

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ForTube is the world’s top DeFi lending platform launched by The Force Protocol.