**UPDATE** Pancakeswap has run into additional technical difficulties with their new smart contracts and their v2 upgrade has been delayed another 24 hours. Assuming the Pancakeswap V2 deploys successfully, we will launch Fortress on April 24 at 5 PM UTC.
We are thrilled to come to the end of the highly successful Fortress IJO! Over the last 48 hours nearly $2 million has been raised to jump start the Fortress Lending Protocol from Jetfuel Finance. The Fortress protocol is designed to securely and efficiently enable users the ability to borrow and lend cryptocurrency assets. Users who choose to supply liquidity to Fortress earn compounded interest as rewards for supplying their assets to the protocol. When supplying assets, users are also given the ability to mint stable-coins, or borrow other assets against their supplied assets while also earning the FTS token.
Pancakeswap V2 Announcement
The original plan was to end the IJO FTS sale at 5 PM UTC on April 22nd and FTS-BNB liquidity would be added to Pancakeswap at 6 PM UTC April 22nd. The Fortress Protocol would begin to go live, and users could also claim their purchased FTS and unused BUSD at 6 PM UTC. A new FUEL farming pair for FTS-BNB would be added as well as a corresponding auto compounding vault.
As some have already heard, Pancakeswap announced at 4:17 PM UTC on April 21st the Pancakeswap V2 update. More details can be found in the link below
Pancakeswap will be upgrading their smart contracts starting at 5 AM UTC on Friday April 23rd. This means all users must migrate their LPs to the V2 LP in order to keep earning trading fees and participate in Pancakeswap’s native cake yield farm.
In order to achieve the easiest and smoothest launch for the community. The Jetfuel team has decided to reschedule the Fortress Protocol launch and FTS token claim until 5 PM UTC April 24.
FTS tokens will not be claimable until 5 PM UTC April 24th. The FTS-BNB LP to farm FUEL and vaults will also go live shortly after the FTS token claim is activated.
The Jetfuel team will add $1 million in total liquidity to the FTS-BNB LP. $500,000 of BNB and $500,000 of FTS will be added at a listing price of $4.40.
How to claim my FTS and any overflow BUSD?
The claim process for FTS and any overflow BUSD is a very simple process.
- Go to https://www.jetfuel.finance/launchpad at 5 PM UTC April 24th.
- Connect the wallet you used during the IJO to the website
- Find the FTS FORTRESS box and wait until the “Adding Liquidity” message on the claim button has changed to “Claim”
- Confirm the transaction and receive your FTS tokens purchased and any overflow BUSD
What to expect next?
The Fortress Protocol will go live and users can lending and borrow up to 12 assets. The asset list is: USDC, USDT, BUSD, BNB, BTCB, ETH, LTC, XRP, ADA, DAI, DOT, & BETH.
We expect FTS to be added to Fortress less than 1 week after launch.
Users begin earning compound interest & FTS when supplying assets to Fortress. Users who borrow will pay interest to the lenders and receive FTS rewards. Users may also use their collateral to mint the FAI stablecoin and stake the FAI to earn more FTS.