Frequently Asked Question

1.What is Forlend?

Forlend is the first private lending and borrowing decentralized protocol and is built to transform DeFi lending from serving a small segment of users to mass (institutional) adoption and give all borrowers/lenders sovereignty over their transaction data.

Forlend lets users stake assets to earn interest or deposit assets as collateral to take out loans in a permissionless and frictionless manner using an over-collateralization model.

First launched on Findora’s privacy-preserving blockchain, forlend enables its users transactional privacy, creating a true market that empowers institutional investors and small-medium enterprises as well as individuals.

2.Why do we choose Forlend or what are the advantages of Forlend？

First to Launch Forlend is the first lending dApp to launch on Findora, putting it in a prime position to capture future TVL.

Privacy-oriented ecause transactions are settled on Findora's privacy chain, the asset type, and transaction amount can be protected. Wallet addresses will also be able to be protected from public view.

Interoperable solutions ssets can be bridged to Findora (via Rialto bridge) and staked on Forlend for extra yield. At the moment, that includes assets on Ethereum, BNB Chain, and soon Polygon.

Community-Governed FLD features community-oriented tokenomics model (85% allocated to liquidity mining); FLD tokens are used to determine voting rights, and holders control the project’s future through the Forlend Improvement Proposals.

Multichain support Forlend aims to go multichain, starting from Findora, to provide programmable and composable privacy to major web3 ecosystems. Deposit on Chain A and borrow on Chain B in a private manner.

Institutional adoption Forlend removes the limits on DeFi growth by giving investors private transactions and trades combined with zk-KYC to comply with audits and regulations.

3.What’s the native token of Forlend?

Forlend’s native token is $FLD, used for lending incentives, liquidity mining, and governance. It features a community-first tokenomic structure where the vast majority of token are reserved for the community and 10% only for the treasury to protect the project.

10 million FLD tokens will be issued at its genesis with the following allocation: 5% to the contributors and project incubation; 10% for the Treasury; and the rest, 85%, reserved for community liquidity mining and incentives.

4. What's the mission of Forlend?

Forlend envisions a new epoch of finance where users control their own data, identity and financial assets. Forlend's ultimate goal is to bring decentralized, permissionless finance to the world without sacrificing privacy.

Since decentralized financial application is currently built on open ledgers, transaction data is publicly accessible on-chain by all. This limits potential growth because traders and institutions cannot risk exposing their strategies, divulging client data, or revealing sensitive partner information. However, Forlend is first built on Findora, a privacy-preserving blockchain with a protected ledger. Thus, Forlend gives retail and institutional investors a safe and private environment for financial services while still being able to satisfy regulatory requirements and audits.

5. What are the future plans of the Forlend?

2022 Q3

• Findora Ethcc Hackathon

• v1 mainnet launch on Findora with yield farming, supporting fra and major stablecoins

2022 Q4

• v2 testnet launch:

• Fixed rate lending/borrowing support.

• Extending supported collateral to non-stablecoin assets.

  • Introduce leveraged lending

  • Flashloan support.

• Adding support for Ethreum and Binance Smart Chain.

• Forlend DAO launch to implement Forlend Improvement Proposals.

2023

• Adding support for Polygon and other networks based on community voting.

• v2 mainnet launch.

• v3 testnet launch:

• Extending supported collateral to 721 standard assets.

• permissioned, private lending pools for institutional users with zk-kyc support.

• private crosschain lending.

*note: Forlend roadmap will be collectively decided by the Forlend community and is subject to change.

6.When will Forlend be live, will there be any benefits in genesis mining?

Forlend has been live since 9:00 pm PDT 28th August 2022, in the initial phase, we will focus on the lending service for FRA, USDT.e, USDC.e, USDT.b and BUSD.e. Users can earn mining rewards by depositing and lending. During the first week after the launch, Forlend will carry out a liquidity mining incentive event where users can stake FRA to earn.

Forlend recognizes that the community is one of the most important cornerstones of any project. That’s why 85% of the total supply of FLD will be allocated to the community.

To thank early supporters for their support and promotion of the project, rewards are weighted heavily to favor early adopters. Boosting incentives at the inception of the project also bootstraps liquidity and launches the project on a solid foundation. 2% of the total FLD token supply will be distributed in the first week, via liquidity mining i.e. to those who lend/borrow, with slower release schedule afterwards.

The value of genesis mining is huge. In the lending model and liquidity mining incentive model for the first year, the genesis mining incentive will be 200,000 FLD for the first week , 4.4 times higher than that of the next 11 weeks and 6 times higher than that of the next 42 weeks. The genesis mining incentive of FRA is three times higher than that of stable coins. FLD-FRA liquidity pool will also provide high APY rewards in the early days and after the header ends, staking LPs incentive can reach 11,904.7619 FLD per day for the first 3 months, much higher than the lending mining incentive of 6,493.51 FLD.

7. What's the contract address of FLD

FLD : 0x020cF6c12B08AcbE78544C4F3319A749b0601780 https://evm.findorascan.io/token/0x020cF6c12B08AcbE78544C4F3319A749b0601780/token-transfers