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Frequently Asked Questions posed by Fountain Protocol users
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.
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.
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.
Here is the address for Fountain Protocol token (FTP): 0xd1dF9CE4b6159441D18BD6887dbd7320a8D52a05. Please be aware that there might be fraudulent FTP tokens.
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.
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.
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.