How FORE Works: FORE token

FORE has created a tokenized incentive economy to mobilize, and reward, the wisdom of the crowd to problem-solve at scale: forming the foundation for web3 solutions that remove friction from real-world industries such as prediction markets, data oracles, financial auditors, and more. FORE Predict is the first decentralized application built on FORE Protocol. It’s the first of its kind: a truly decentralized peer-to-peer predictions ecosystem powered by people. People create prediction markets, determine market odds, participate in markets against each other, and validate market outcomes themselves.

FORE’s hyper-deflationary utility token underpins all activity on the protocol. Using FORE as the protocol’s sole currency allows us to invert the incentive model of previous prediction markets - redistributing fees to enable every participant to earn rewards for productive activity. With FORE's Token Generation Event coming up, let's dive into how FORE token works, FORE's tokenomics, and how to earn FORE.

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1. FORE TOKEN UTILITY

Many projects class their native asset as a utility token, without much utility to their token at all. FORE is a true utility token in the sense that it is the sole currency and underpins all activity on FORE Predict, and will have utility from day one. 

CREATE: all markets created with FORE, and creator rewards are paid out in FORE.
PLAY: all winnings from successful market positions are rewarded in FORE. 
ANALYZE: all validator rewards are paid in FORE, which can either be claimed or compounded into the value of the Analyst NFT.
NFT ACCESS: users can mint, buy, or sell any FORE NFT on the NFT marketplace.
GOVERNANCE: holding FORE will enable governance of the protocol in areas such as market verification.
PLAY2EARN: users will be able to gain metaverse access by holding FORE.
EVENTS: users will be able to gain access to exclusive events by holding FORE.

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2. DEFLATIONARY TOKENOMICS

FORE’s maximum supply is capped at 1 B FORE, although the circulating supply will never come near that due to its deflationary nature. A portion of all FORE tokens utilized on the protocol is removed from circulation forever: these tokens cannot be recovered or recreated. As activity increases on the protocol, the total available supply to support that activity is proportionally declining, ultimately driving a supply shortage for the token. FORE is removed from circulation via several mechanisms:

MARKET PARTICIPATION: 1% of the total size of all markets is permanently removed from supply.
NFT MINTING: Every time an Analyst NFT is minted, 1,000 FORE is burned and permanently removed from circulation. The NFT minting process removes a large portion of tokens from circulation and creates a non-inflationary way to incentivize activity.
‍MISC: Other methods of supply reduction include incorrect validation, market creation, dispute resolution, and more.

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3. SUSTAINABLE REWARDS

FORE Predict offers a unique opportunity for creators (market creators) and analysts (market validators) to earn lucrative rewards by simply creating markets or confirming the results of a market outcome. It’s a sustainable ‘almost-passive income’ model that rewards participants with a share of the platform fee for the productive activity that is relatively straightforward.

Unlike many projects that mint new tokens in order to reward activity, FORE is a hyper-deflationary ecosystem and rewards participation through the redistribution of platform fees. A 5% maintenance fee is imposed on all market participation, which is used to reward participants and maintain the protocol's homeostasis, a flywheel of activity that benefits everyone involved. Of the 5% maintenance fee:

- 1.5% goes to the protocol as revenue
- 1% is burned and permanently removed from supply
- 0.5% goes to the creator as a reward
- 2% is shared among validators as rewards

From day one, FORE holders will be able to put their FORE to use on the protocol to earn rewards and generate 'almost' passive income.

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4. TOKEN DISTRIBUTION

FORE is a people-powered ecosystem, with decentralized ownership and incentives at its core: we want to give those who are dedicated to helping us grow the opportunity to ‘own’ part of what they are building.

While most blockchain companies create vesting schedules that benefit mostly themselves, the FORE team has carefully crafted token release schedules to best support healthy growth, long-term incentives for users, and scarcity overtime. As we get ready for FORE token's TGE this quarter, we want to ensure that the participants in FORE's token sales have access to tokens from day one in order to utilize the platform - whether creating markets, participating in markets, or validating markets. Ahead of TGE, there are two remaining ways to participate:

1. FORE's private round
5% of FORE's private round unlocks on TGE, with a 5 month cliff and 12 month vesting. Until FORE's private round closes on May 2nd, there is a limited opportunity for 200 active community members to gain access a portion of the round reserved for active community members. Learn more here, and secure your spot within the top 200 on the leaderboard here by completing quests that help grow the FORE ecosystem.

2. FORE's public round
As we close our private round, we’re preparing to embark on the next significant milestone in our journey: FORE’s public sale. FORE's public round starts unlocking on TGE and continues to unvest over the following 6 months. While specific details on the public sale are still under wraps, itwill occur in phases and we’re making sure that FORE community members get priority. Sign up here to be the first to find out how to take part in FORE’s public sale.