Force Protocol (FOR) Crypto-financial - ICO Review, Rating and Details of Force Protocol ICO (Token Sale) - Rating: Not Rated

Force Protocol project is distributed crypto-financial services protocols based on the mainstream public chain system and the under-layer standard data network of protocols. Through the abstraction and encapsulation of the distributed crypto-financial business process and in the form of SDK and API, the project offers solutions for financial needs such as cross-platform assets transaction, shared trading volume, cross-chain communication, multiple blockchain crypto-assets collateral backed stablecoin issuing, token bonds issuing, on-chain payment, settlement, and clearing of transactions, etc.

Features & Highlights

  • Global Network of Token Loan
    • We develop something important to break the process-heavy and unfair loan market we all know. We want to make loan available and reachable on global scale, without information islands among DAPPs. Instead of relying on traditional loan institute, we believe borrower should have the possibility to obtain loan anytime and anywhere in the world. With our protocol, Institutes can set up their own loan platform/supernode, which connects to a shared orderbook maintained by other supernodes. Anyone can participate in this system easily and securely.
  • Simplified User Experience
    • Force Protocol is devoted developing a user-friendly demonstration interface for the above mentioned DAPPs, which make user experience simpler. The loan process is simplified from tens of steps into 2-3 steps process. Additionally, instead of requiring users sending gas before trading to finance the loans, “Approve/Lock”-functions will be used to collect these assets from user’s wallet eliminating unnecessary steps. Which means, less gas will be required.
  • Decentralized Loan and Supervised Dual Token Model
    • Force Protocol provides a global decentralized loan platform based on a shared orderbook. Dual token model is introduced to remove obstacles among different token and fait currency. In addition, trading across different chains is realized using a centralization-like strategy.
  • Lender Side Offers and Risk Shared Strategy
    • Force Protocol will develop loan offers that users can place on the decentralized 3 application. Loan offers are placed by stating liquidity amount and on what price the lender is willing to provide the liquidity. In the updated version, lender also indicates which tokens would be accepted as collateral or which credit rating must borrower met. In the future, The Force Protocol will introduce option for crowd loan where the risk is shared amongst multiple lenders.
  • Insurance Measures for Market Volatility
    • Force Protocol will use price feeds for popular tokens to adopt sophisticated collateral management where in case the collateral value (value of the tokens) drop below a certain threshold, borrower must fulfil collateral or lender can call the collateral and sell it on market. Alternatively, insurance against market fluctuations is introduced to compensation for extreme situations.
  • Artificial Intelligence and Big Data for Prediction
    • Credit history is born once there is data available on paid loans, the interest rates, possible collateral, and details of lenders and transactional data of certain address. Based on this data, artificial intelligence (AI) and Ethereum distributed ledger data technology can be used to prediction, which could enhance credit loans in the future.

Token Allocation

"Community & Ecosystem","Foundation","Strategy Investment","Team Members" {"name": "Community & Ecosystem","value": 30},{"name": "Foundation","value": 25},{"name": "Strategy Investment","value": 30},{"name": "Team Members","value": 15}

Token Allocation & Release Note

  • Community & Ecosystem: 30% of total supply
  • Foundation: 25% of total supply
  • Strategy Investment (IEO + Private Sale + Seed Sale): 30% of total supply
  • Team Members: 15% of total supply
  • Team Members: will be locked up for 3 years from first exchange listing, of which 30% 12 months, 30% 24 months, and last 40% 36 months.

Token Utility & Use Cases

The token will not only promote operation of the ecosystem, but also serve as carrier for autonomy of decentralized organizations. The FOR will play following roles in The Force Protocol ecosystem:

  • Transaction Fee Deduction
    • In The Force Protocol system, when the loan orders match, the smart contract will deduct a small amount of tokens from both parties, and send them to the supernodes submitting the orders of both parties as the service fee income. Under normal circumstances, the handling fee is 0.5%, which is charged in both directions. When user holds the FOR token, the smart contract will calculate the commission amount base on user's FOR holdings, and then deduct the calculated payment fee. In order to prevent the supernode from selling to the market immediately after the collection of FOR fee and leading to deduction of total FOR value, The Force Protocol system will set a freeze period for each FOR obtained in the form of service fee. After freeze period is over, the supernode will get released FOR fee. This mechanism is in order to maintain the price of FOR token from being centralized sell-off by supernodes, and stabilize the ecology of The Force Protocol.
  • Supernode Pledge Lock
    • Within The Force Protocol system, each supernode needs to pledge a certain amount of FOR tokens when it joins in the system. This part of the token will be hosted by a special smart contract. The main function is shown in the following section. The smart contract will also periodically scan the pledge level of supernode FOR token. If the pledge is lower than minimum requirement of the system, supernode will receive a pledge notification. If supernode does not replenish the pledge FOR within specified time, the system will submit information to the arbitrator according to the preset conditions to determine whether supernode can perform the function normally. If judgment result is negative, arbitrator will submit the deletion proposal for this supernode to community governance system.
  • Mining by Borrowing
    • 48 In order to promote user's action on mortgage loan, we reserve strategy of mining by borrowing of FOR token. The Force Protocol development team will submit a detailed plan for Mining by borrowing to community governance mechanism at appropriate time after the platform is online and running. Content of the plan will include a series of key factors such as the total amount of trading, mining rules, mining time and so on. After community discussion, decision-making and voting, the plan will be implemented as planned.
  • Collateral
    • We will promote FOR to be listed on top global exchanges as soon as we finish our token sale. It is expected that FOR will become the main collateral in The Force Protocol's ecology and will be favored by borrowers and investors. FOR will enjoy the preferential pledge rate and exchange fee deduction when it is used as mortgage collateral. This part is shown in “Transaction Fee Deduction” and “Increased LTV” sections described above respectively.
  • Increased LTV
    • If borrower uses FOR as the collateral for loan, it can enjoy a certain uprising ratio above the basic LTV (loan-to-value), borrower could obtain more loans. This setting can promote the use of FOR and increase the user's stickiness to The Force Protocol. The specific LTV will have a preset ratio at the beginning of the system's launch. As the loan orders continue to accumulate, we may modify the FOR LTV to a more reasonable point and submit it to the community for voting.
  • Community Governance
    • FOR is the only tool for members of The Force Protocol community to participate in community voting. First, when there are any important issues that needs to be submitted to the Community Governance Committee for discussion, the proponent must hold 49 FOR and submit proposal to a dedicated smart contract, mortgage a certain number of FOR before submitting the proposal to the community discussion board. Community holders can submit suggestions for changes to the content of proposal within a certain period of time. All changes will form an iterative version and be recorded by the blockchain. After the specified time limit is over, FOR's holder will vote on the content of the proposal. All locking FOR token will not be counted in the ticket, different proposals need to meet specific number of votes to be approved. All FORs for voting will be locked by a smart contract address for a certain period, during which these FORs are out of circulation system.
  • Cryptoassets Offering and Pledge
    • As the decentralized mortgage loan platform, The Force Protocol welcomes all tokens that meet the interests of community users for conducting loan transactions. However, in order to prevent some of the “air tokens” and “scam tokens” listed on our platform and occupy the public computing resources of our community, we will also set up a mechanism for all the mortgage collaterals on The Force Protocol, except BTC, ETH, XRP, BCH, EOS, XLM, LTC, ADA, XMR, TRX, DASH, BNB, NEO, ONT, ETC, XEM, ZEC, USDT, USDC, TUSD, GUSD, PAX and other top cryptocurrencies. The owner of specific token should hold and mortgage certain amount of FOR token, which can be used as a collateral after being voted by the community. We must ensure that all tokens on The Force Protocol platform follow the interests of our community. All tokens that may harm the interests of our community will be banned from going online as collateral. Of course, we also welcome all excellent cryptocurrency projects to be listed on our platform.

Roadmap & Updates

  • Q2 2018
    • Project launch, cryptocurrency lending model design, program demonstration.
  • Q3 2018
    • White paper design, official website online, community operations, community token donation program design.
  • Q4 2018
    • Smart Contract and Trading system development, Platform of BiBiDai 1.0 online.
  • Q1 2019
    • Anti-cheating system development, API development and code security auditing, decentralized lending system of alpha version test.
  • Q2, Q3 2019
    • BiBiDai 2.0 online, stablecoin issuing, FOR token listed, decentralized lending sector additon, cross-chain token mortgage lending.
  • Q4 2019
    • Partner application plan issuing, Off-exchange financial service ecology for token mortgage lending and cryptoassets construction.
  • More
    • Multi-chain protocol development, BAAS platform development, etc.

Team Members

  • Allen - Co-founder & CEO - Former district manager of Enactus China covering Tianjin, Shandong and Hebei Province. Managing Director of Qianshenghui Capital. He is focusing on research and investment of Internet finance industry and has invested in many high-quality projects in the sub-segment of cash loan and car loan et al. He is early member of Bitcoin Talk community, early member of the XDAG-Chinese community, and partner of AlphaCoin Fund. He has invested in tens of projects like Rsk, Celer, Box, Dcc in blockchain field, with the idea of code being law, privacy being freedom, computing being right. He laid out a lot of ecological projects related to blockchain technology in advance, such as the mines, mine pool, wallets, exchanges, and media. He is responsible for financing and external cooperation in The Force Protocol Team.

  • Yu Hongxue - Co-founder & CTO - Master of Beihang University in computer science. Former core development member of Big Data Platform in Sogou Ltd. Who was responsible for ETL, core indicator calculation, task monitoring, task scheduling, task optimization and so on. He is good at development of DAPP and security technology. Recently, he is focus on Anticheating and recommendation algorithm research. As early follower of blockchain technology, he is familiar to source code of Bitcoin, Ethereum, EOS, etc. He is responsible for development of supernode and blockchain in The Force Protocol Team.

  • David Lei - Co-founder & System Architect - Master of Tsinghua University. He participated in bitcoin mining from early 2012, in early 2017, his systematically study about blockchain technology and cryptocurrency lead to a deep understanding of blockchain industry’s potential development orientation. 53 He then invested in several high-quality projects such as EOS, Filecoin and Cybermiles, participated in community construction of multiple cryptocurrency projects. With his extensive experience in community evolving, he participated in the development and operation of the XDAG Chinese community, founded self-media “BW investment” in cryptocurrency research field. He is responsible for operations, media campaigns and strategic research in The Force Protocol Team.

  • Xu Chao - Co-founder & COO - Master of Harbin Engineering University, former Cloud Computing Architect of ZTE, head of domestic SaaS cloud service innovation project. He participated in creating SaaS product deployment architecture and business operation system, which achieved 100 million revenue scale from 0. He is also good at network structure and protocol development. He participated in the planning and design of ZTE's electronic license scheme based on blockchain technology, planning and design of the blockchain technology route of China Unicom Research Institute. He is a Blockchain technology enthusiast and early community project participant, who has participated in crowdfunding projects such as NEO and EOS. He is responsible for products, business model design and external cooperation in The Force Protocol Team.

  • Zhang Linbo - Co-founder, Chief scientist Consultant - Ph.D. of Artificial Intelligence, Chinese Academy of Sciences, Senior Engineer, Senior Network Planning Designer granted by Ministry of Industry and Information Technology. His research interests include artificial intelligence and data mining. He once worked in Chinese Academy of Transportation, during which he independently completed one national-level project, in charge of over more than 10 provincial-level information projects and participated in more than 30 provincial-level information projects. He awarded title of senior engineer in 2013, which make him the youngest member at the time. He ever took charge of policy research on domestic application of 54 calling taxi online and autonomous driving technology, as former member of national think tank in the field of Intelligent Transportation. He is good at C, C++, C#, JAVA, Python programming languages, and has researched distributed accounting, cryptocurrency, cross-chain information interaction for several years. He is responsible for cryptography, artificial intelligence and blockchain underlying technology in The Force Protocol Team.

  • Liu Gang - Bachelor of Wuhan University with major of software engineering. He used to be the product director of several P2P and consumer finance companies. He has participated in the establishment and operation of the companies from 0 to 100 and has extensive experience in online lending. His products have a transaction volume of more than 100 billion RMB and have accumulated tens of millions of users. He is good at product design, user growth and financial risk management.

  • Zheng Yajun - Blockchain Development Engineer - Bachelor of Harbin Institute of Technology with major of computer science, former senior research and development engineer at Baidu. At present, he is director of risk control and data center of Shenzhen Frontline Financial Services Ltd., who is in charge of designing company's overall business risk control system and structure, making big data analysis, credit rating, loan Management and development of wind control model. He has extensive work experience in the Internet and finance fields. He is a technology geek and has participated in multiple GitHub open source project code submissions.

  • Dai Shaopeng - Blockchain Development Engineer - Ph.D. student in Chinese Academy of Sciences, his research covers data mining, Machine learning, Benchmark, and so on. Several of his paper has been indexed by SCI.

  • Wang Jie - Project Operations and Finance - Ph.D. of Department of Mathematics, Zhejiang University, former Sponsor of China Galaxy Securities co., LTD. He has participated in IPO, mergers and acquisitions of several companies, and has extensive experience in the capital market.

  • Frozen Xie - Advisor - Blockchain and DApp developer, core developer & maintainer of XDAG project, contributor of several blockchain and opensource projects. Co-founder of Consensus Approach Ltd., founder of TeamTaoist Studio. Producer of mobile game and crypto game. Former technical staff and project manager of Lucent Technologies Bell Labs. Expert in IBM DB2, Network Communication and Blockchain Technologies. Senior software engineer in iOS/Android/Html5.

  • Tian Hongfei - Advisor - Master's degree of Massachusetts Institute of Technology. He is partner of Green Pine Capital Partners Co. LTD, and former partner of SIG Asia Venture Capital Fund. He has more than 15 years of experience in e-commerce and network security, covers hightech industries and investment banks in Silicon Valley, Germany and China.

  • Andrew Yi - Advisor - He has worked in Oracle and Google, both of which are Fortune Global 500 Companies. He ever served as Executive Dean of Shenwan Hongyuan Research Institute, which one of the largest securities companies in China. He is the first promoter and advocate of Internet finance, big data and cloud computing industries in China. He is one of the best 56 analysts who ranked first, and one of Persons of the Year voted by Tencent, Sina in Chinese Financial Technology, who has invested nearly 100 related companies.

  • Li Zhongnan - Advisor - Product Partner of Hetrone Financial, who was in charge of products like ufenqi and JiandanDai. As the first batch of phased shopping malls for college students, ufenqi is ranked third in the comprehensive industry in 2016 years, with a maximum daily transaction volume over 100 million. He was the former product design experts of Meituan Ltd., who was responsible for design work of all mobile platform products and developed mobile product design systems and standards. The work experience in QQ products of Tencent and Tmall mobile products of Ali, provided him rich experience in product design and R&D management.

  • Simon Liu - Advisor - Master of Computer Science and Technology, Tsinghua University. He has worked as search technology development engineer in Baidu as an early staff, core engineer of Chinese search in Google, and chief engineer of Bing search in Microsoft.

Partnership Overview

  • TokenInsight is a global token data rating agency, which is focus on certification risk ratings to help investors avoid risks and increase revenue. The Force Protocol team works closely with Tokeninsight on selection of encrypted digital asset collateral, mortgage rate setting and risk control level, which can improve mortgage lending risk control level.

  • BabelBank is a trustworthy blockchain bank, who dedicated to build an open and shared blockchain asset financial services system. Its business covers digital currency deposits and loans, blockchain asset financing, and digital currency financing. In the future, it will launch more business and related financial derivatives. As a pioneer in the field of digital currency mortgage lending, BabelBank will jointly maintain the global loan order pool with role of super node of the force protocol, which can help optimize resource allocation, jointly develop decentralized digital currency lending industry specifications for users, provide fast and convenient lending services.

  • InVault: As the first licensed virtual asset custody platform in the Asia-Pacific region, InVault holds a Trust and Corporate Services license in Hong Kong and has launched virtual asset custody solutions for digital lending platforms and quantitative trading funds, both of which are vertical businesses. Apart from centralized enterprise wallet, InVault also provides collaborative custody and special account custody and other virtual asset custody solutions applicable to various business scenarios, including primary market fund custody, secondary market fund custody, exchange wallet custody, FOF fund custody, collateral custody, OTC fund supervision and so on. The force Protocol super node can use InVault's enterprise-level virtual asset hosting technology and scheme to launch services such as mortgage loan, multi-currency portfolio mortgage loan and large-amount multi-account mortgage loan for users. Its multi-tiered risk control system ensures that users' mortgage assets can minimize losses in case of large price fluctuations.

  • He-Legal Chain Joint Library is founded by The Force Protocol Team and Renmin University's legal chain laboratory, which is focus on blockchain legal compliance, regulatory policy research, and achieve supervision and governance of blockchain industry. As academic guidance organization of Chinese Internet Finance Supervision Center, the Joint library will actively participate in research of legal supervision in the fields of financial technology and blockchain finance.

  • Birise is a digital asset wallet with function of market quantitative analysis. It provides comprehensive services, quantitative analysis, news announcements and other derivative services, which can help overcome shortcomings of digital asset investment and realize value-adding of digital assets. The Force Protocol will cooperate with Birise in the field of digital asset lending.

  • ThinkBit is the next generation digital asset trading platform, which serves to trading and depositing of digital assets conveniently. It is the first exchange with 100% cold wallet technology in the world, which is extremely safe. The Force Protocol and ThinkBit will collaborating on blockchain technology, digital asset management and currency stabilization.

  • eArk-Green Blockchain: The green chain provides ultimate solution for human environmental protection by efficient consensus, credible circulation, and global transactions of environmental data assets. All of these are realized by a global green value network, which integrates 59 satellite communication network, intelligent Internet of Things, and information internet technologies

  • Hetrone Financial Company is a technology company, which is focus on personal and microfinance innovation. It is devoted to forward-looking research and in-depth application of data engineering, artificial intelligence, cloud computing and other technologies in the field of inclusive finance. It adheres to the vision of “Making Finances Free of Borders” and continues striving to achieve “Providing equal and effective financial services to everyone”. It provides equal and convenient Internet financial information services for individual users and small enterprises, and makes technological innovation play leading role in the economic and social development.

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