FAQ

Frequently Asked Questions posed by Fountain Protocol users

General

Is Fountain Protocol safe?

As with all cutting edge financial services, there are elements of risk to interacting with cryptocurrency and platforms such as Fountain Protocol. The most pressing of these are smart contract vulnerabilities that affect the platform and the liquidation risk faced by users. No platform should be considered 100% safe.

That said, Fountain Protocol has and continues to be extensively tested in order to mitigate risk and provide the UI necessary to protect user funds from undue loss. Smart contracts are reviewed thoroughly and risk assessments are conducted prior to additions to the protocols suite of services. What is more, Fountain Protocol will be continuously pursuing security audits for the protocol.

Where are my assets stored?

Assets supplied to Fountain Protocol are sent to smart contracts. Only users have access to and full control over their funds. It is essential, however, that users properly secure the private keys of the wallets used to interact with the protocol. Loss of private keys equates with loss of funds as the protocol or the team behind it have no means of retrieving access.

Does Fountain Protocol charge fees?

Supplying assets to Fountain Protocol is free. There is, however, a small, asset-specific fee generated from interest spreads. Referred to as the Reserve Factor, these fees are used to support the ecosystem and contribute to its growth. The reserve factor used for each asset is recorded within this document.

Where does the interest accrued by suppliers come from?

Interest paid by borrowers is distributed to all investors of the same asset on a pro rata basis.

How to buy $FTP?

$FTP is listed on YuzuSwap. You can trade FTP on YuzuSwap here. For first time users on YuzuSwap, you may refer to the official guides to view how to trade tokens on YuzuSwap.

Here is the address for Fountain Protocol token (FTP): 0xd1dF9CE4b6159441D18BD6887dbd7320a8D52a05. Please be aware that there might be fraudulent FTP tokens.

Where to switch assets supported on Fountain?

Fountain is live on Emerald Mainnet. If you want to supply or borrow assets on Fountain, you will have to transfer your assets into the Emerald ParaTime.

To transfer your ROSE/ETH and ERC20 tokens into Emerald, follow here to view how to transfer ROSE/ETH and ERC20 into Emerald ParaTime.

If you have bridged your assets(e.g. wETH) on Oasis Emerald. You can also use that wrapped assets across YuzuSwap - the first DEX build on Emerald, where you can swap. Here are the guides to view how to trade tokens on YuzuSwap.

Why is there still a very small loan balance on the borrowing page when I pay off all my loans?

That’s because the borrowing time is too short and the interest does not start to accrue in the same block, as a result, the interest is too little. To solve this, you can try again later.

Even if there’s a tiny amount left, you don’t need to worry about it. The loan balance shown on the borrowing page will be super small, you still can withdraw all your principal out, just leave $0.01 USD worth of tokens, and it would be fine.