Yield Farming with ForTube

ForTube officially launched the liquidity mining program at around 11 AM, August 4th (UTC+8) with the starting block height of 10591168.

The first session of this liquidity mining program is divided into four rounds: “Feng”, “Lin”, “Huo”, “Shan”. Each round lasts for 7 days, 28 days in total.

Yield Farm Details:
ForTube (https://www.for.tube/home)
21 days long.
4,600,000 $FOR for the 1st round.
4,500,000 $FOR for the 2nd round.
2,275,000 $FOR for the 3rd round.
2,275,000 $FOR for the 4th round.

> Yield farming using PC:

  1. Download the Google Chrome browser

  2. Install MetaMask wallet

Note: Be sure to ensure a secure network environment and keep the MetaMask mnemonic and password. Losing the mnemonic will cause the loss of your assets.

  1. 【Wind】Round farming supports HBTC, USDT and BUSD.

HBTC is the Ethereum version of BTC launched by Huobi, 1HBTC=1BTC. BUSD is approved by the New York State Department of Financial Services (NYDFS) and issued by Binance and Paxos as a stablecoin priced at 1:1 USD.

  1. Visit ForTube website through Google Chrome browser. Enter the ForTube yield farming interface.

  2. Click “Connect” in the pop-up box of MetaMask wallet, and click “Signature” in the subsequent interface to successfully access the wallet.

The farming method and difficulty may be slightly adjusted in different farming rounds. Currently, the “Wind” round only supports “Deposit”.

  1. For “Deposit”, please select the target token in the drop-down menu. The authorization will be required if deposit or repayment for the first time.

  2. After the authorization is completed, enter the deposit amount and click “Deposit”. As shown in the figure below, users can see the APY (dynamic floating), “Estimated daily rewards”, and “My rewards” on the right.

The operation process of “Borrow” is similar to that of “Deposit”. Note: In ForTube Bank, users can only borrow after depositing collateral assets.

  1. Rewards withdrawal. The farming rewards of the day can only be withdrawn on the second natural day. The farming rewards show that it is expected to be delayed by 1–2 blocks (about 20 seconds). Users can withdraw all the rewards from the previous day at one time.

> Yield farming using mobile phone:

  1. The wallets currently supporting the ForTube platform include Bitpie, DappBirds, MYKEY, TokenPocket, Coinbase wallet, Trust wallet, imToken, Huobi wallet, etc. Users can participate in yield farming through these wallets.

  2. Take Bitpie as an example (the entrances of the Android version of Bitpie wallet and the IOS version are slightly different).

For the Android version of the wallet, find the “DeFi” list in the Discovery section, click the ForTube platform icon, or enter for.tube in the address bar to enter the ForTube yield farming interface.

For the IOS version of the wallet, type in “for.tube” in the built-in browser to enter the ForTube yield farming interface.

  1. Click “Connect” and select Confirm in the pop-up box to connect the wallet to the ForTube platform.

  2. For “Deposit”, please select the target token in the drop-down menu. Authorization is required for the first deposit or repayment.

After the authorization is completed, enter the deposit amount and click Deposit. As shown in the figure below, you can see the APY (dynamic floating) and Estimated daily rewards.

The operation process of “Borrow” is similar to that of “Deposit”. Note: In ForTube Bank, users can only borrow after depositing collateral assets.

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ForTube liquidity mining program added the Uniswap mining pool. The mining pool started at 12 PM on August 19, 2020 (UTC+8), and end at 12 PM on September 18, lasting 30 days.

The rewards for the Uniswap mining pool are approximately 33,333 $FOR every day, 1,000,000 $FOR in total, which will be distributed according to the proportion of UNI-V2 locked by the farmers.

> Step-by-step tutorials:

  1. Download the Google Chrome browser

  2. Install MetaMask wallet
    Note: Be sure to ensure a secure network environment and keep the MetaMask mnemonic and password. Losing the mnemonic will cause the loss of your assets.

  3. Visit ForTube website and click the “Farming” button in the upper right corner.

  4. Scroll down, find “Uniswap” mining pool and click the “Visit Uniswap” button.

  5. Click “Connect to a wallet”.

  6. Please note that the FOR/ETH pool proportion is 50/50 (i.e. Users need to add liquidity in the pool with 50% FOR and 50% ETH), so please prepare the corresponding proportions of FOR and ETH in advance. Enter the amount of ETH or FOR you want to deposit, and the system will automatically calculate the amount of another asset that needs to be deposited. Click “Approve FOR”.

  7. Click “Supply”.

  8. The platform prompts that the user will receive FOR/ETH Pool Tokens, which is UNI-V2, a proof that the user has added liquidity to the pool. Then click “Confirm Supply”.

  9. Go back to the ForTube yield farming webpage, click “Start Farming”.

  10. Connect your wallet to the ForTube platform and you can check the balance.

  11. Click “Lock UNI-V2”, input the amount of UNI-V2 you would like to lock.

  12. Then you can check the “Locked amount” and “Withdrawable rewards” on the webpage.

  13. To stop mining, users need to click “Unbond UNI-V2”. Then go back to Uniswap webpage to click “Remove” and the assets you added to the mining pool will be withdrawn back to your wallet.

  14. Users can withdraw mining rewards at any time without any restrictions.

ForTube platform has accumulated deposits of up to 30 million USDT and been listed on DeFi Pulse with $21.8M TVL, entering the DeFi Pulse leaderboard in #6 position among all the lending projects. https://defipulse.com/fortube

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