Thanks for submitting your details!
You'll be the first to find out how to take part in FORE's public round.
Oops! Something went wrong while submitting the form.
Key areas covered in this AMA:
TIMOTHEA HORWELL: We’ve hosted an AMA every month since our community launch, and we’ve endeavored to make these as accessible as possible for our global community by prioritizing written AMAs, but as we edge closer to our launch date we think it’s important for you guys to be able to meet us ‘in person’ albeit virtually, and meet the people behind the avatars, behind the scenes, and ultimately, behind the project that you’ve all dedicated so much time to learning about. As always though, we’ll be recording and transcribing for our community members who are unable to make it today, or English isn’t their first language.
This AMA is an exciting one for us, and hopefully for you guys too because we’ll be sharing details on what we’ve been working so hard on the last few months, coordinating so many moving parts to get us to TGE and main net, and we’ll be sharing what’s to come for the months and year ahead!
The three of us on this call, and many others in the FORE team, have been building FORE for the last year and a half, and we’ve had a number of milestones in that time, thousands of users on our test net, a quarter of a billion of test FORE transacted, to name a few, but the biggest ones to date are just around a corner: the launch of FORE token, and the launch of FORE Protocol’s main net. I know you all had a ton of questions on these areas in particular, but before we get into it, let’s start off with a quick intro for any newcomers.
MERV MERZOUG: Well, I think I've probably spoken to a lot of you here, but it's good to say hello to you all in person and in real-time. My name is Merv. My background is kind of the intersection of finance and technology, investing in very safe businesses. But really a lot of my career was set in working with Wall Street, working in private equity, and restructuring the structure of businesses. So I was an early adopter of blockchain technology that had been active in space as an investor, you know, and early evangelist since 2015. So, you know, it's been great to see the whole world's ecosystem grow. But above all, really have an opportunity to work with an amazing team, to identify particular problems ahead of the world with this particular technology. You know, that's sort of the genesis of FORE. And this year. So I guess I'll pause there and get back to you.
ANDRES SORIANO: Thanks, everyone, for joining us. I think it's important to take a moment just to thank all of you for the incredible support that is shown and obviously reaching the maximum amount on Discord is a big deal. So we're really humbled and really appreciate it. So thanks. So I'm Andres. I've been focused on a lot of things behind the scenes. Seen me a little bit on Discord on and off. But really responsible for the operations side of the business in particular, how we handle feedback and we build out the products and then everything from team staff and contracts and to the processes that make the protocol tick in the background. So it's been exciting, it's been incredible to see what we've put forward and the feedback has been, like I said, unbelievable, and thank you again for everything. It's very humbling and we're excited to bring what we have coming forward and put forward a product that we can all be proud of.
TIMOTHEA HORWELL: I’m Timothea, and I’m one of the co-founders of FORE Protocol. I’ve spent the majority of my career specializing in marketing strategy within the fintech sector (mostly data, mobile, and payments) with the last five years or so in the DeFi space, most recently as CMO of an exchange aggregator that was one of the most successful token sales of 2020 and made it into the top 100 market cap during the bull run. I left a year and a half ago to start building FORE with an incredible team, and I'm really excited to be here today!
Let’s jump into the questions that you’ve submitted across Discord and Twitter. We had hundreds of questions on the validation process, NFT tiers, marketplace, creator model, etc., but today we wanted to focus on the immediate milestones ahead, and also share new information that hasn’t been shared before. Hopefully, we’ll have some live questions at the end too. As always we have a reward pool for the best questions so don’t be shy!
I think we can kick off with this one as we had teased a new chain integration but we hadn't told you what it was yet.
QUESTION: Which blockchain will FORE be deploying on? I CrypticMystic @JeremyH55885553
MERV MERZOUG: I know this has been a topic of a lot of questions in the community and, you know, we're really excited in terms of launching in general. But before I can answer the direct question of which blockchain we will be launching on, I think it's important to kind of understand how we made that decision and what the different factors were that we considered maximizing our growth and also our contribution to the blockchain ecosystem. As you know, FORE Predict is a peer-to-peer predictions market provider. And because users have to interact so often with the blockchain, gas fees are a big consideration. So we need to, number one, first and foremost, for our user's experience and for you all, to make sure that we're facilitating a very seamless user experience in the creation and settlement of markets.
And in looking at all of the existing blockchains, both large legacy providers and also the new and growing blockchains with strong communities, we really felt that this blockchain felt really fit the bill in terms of a great overlap of both high growth, but also really low gas fees. And the technology that underlies the blockchain is pretty impressive.
We’re excited to share with you guys here today that FORE will be launching on Arbitrum. We’ll be officially announcing this next week, so you guys are the first to hear this. However, as we’ve said throughout, we built FORE to be chain-agnostic. We’ve already integrated Polygon and Fantom and we’re working on a model to facilitate peer-to-peer, cross-chain markets further down the line.
We will be minting FORE at TGE on ETH and Arbitrum networks, and FORE Predict will be running on Arbitrum at main net launch for low fees and high speed. Since closing the public TestNet, we’ve been working hard to integrate your feedback, resolve any outstanding errors like NFT claiming, and migrate over to Arbitrum. We will shortly be underway with a third-party audit. We won’t be running another hackathon as we did before, but we will be providing early access to core supporters (FOREfathers, FORCE NFT holders, etc.) to test the latest iteration ahead of the main net launch.
QUESTION: What are the steps to participating in FORE's Public Sale? Are there any specific requirements or restrictions for participating? I Crypto Fan @CryptoFan071
TIMOTHEA HORWELL: The public round is going to occur in three phases. We have the community round, an IDO on a launchpad, and an IEO, an initial exchange offering, on a centralized exchange.
The majority of the public round is already committed to these partners, which are going to bring a ton of awareness to FORE, as well as filling the round itself, but I think ultimately this becomes an exercise in marketing awareness and attracting new users and holders to the community.
But, we wanted to make sure that we reserved a portion of this public sale for the FORE community. We're starting this before any of the other rounds, and we're launching that today. Many projects have multiple tiers, stages, requirements, etc, and make their public sale quite convoluted. We’ve kept it simple: just sign up to enter our whitelist. The whitelist will close on the 19th of June, where you will have 48 hours to carry out KYC. Shortly after, our public round will be live to whitelisted and KYC'ed wallets on a first come first serve basis until the $100,000 is filled. We felt like that was a fair way to be able to allow everyone to participate if they wanted to, and obviously, if they meet the necessary KYC requirements.
But there's also another layer to it because at FORE we're always about incentives and gamification. When you enter the whitelist, you are given a referral link and you can share that referral link with your friends, your family, and every time a new person signs up to the public sale you receive another entry. The more entries you have, the higher your chance of winning 100,000 FORE. This is just an additional way to gamify and grow our network further: you have already proven so beneficial in helping grow our ecosystem through your networks and we're really excited to see how this will work from a public sale perspective as well.
We'll also be kicking off a number of KOL and marketing partnerships to start driving awareness of our public sale as we enter this new phase. The more eyes that we can get onto this, the better for all of us. I'm really excited for the next six weeks ahead, and I'm excited for us to be able to capitalize on that and build on that as well with all of you.
QUESTION: Is KYC necessary before I get whitelisted? I chulo.zk @Crypto_Isaac
ANDRES SORIANO: It is, yes - it's going to be a fairly simple process, but a thorough process. We want to make sure that everything's covered in the sense that we'll be following the standard sanctioned UN list for the requirements for KYC and for anti-money laundering, AML. That will be the basic screening, and there will also be some blockages from some other countries for some strategic regions, one of them being the USA.
I just want to take a moment to discuss our legal counsel. While we can't announce the name of the firm quite yet, we partnered with a very strong and experienced legal counsel that operates all over the world, with offices based here in Southeast Asia. We're looking forward to putting this process in place, under the best advice possible.
QUESTION: The public sale will have some vesting or something similar to avoid the possible initial sale.
MERV MERZOUG: The short answer is there will be a portion that's vested on TGE, and the tokens will unlock linearly block-by-block over the ensuing six months. You may ask why that's the case. We undertook a big and pretty sophisticated study to try to model out the optimal release schedule of tokens and the emission of tokens to balance out the new creation supply with the deflationary mechanism as we get broader adoption. And so what we found was the optimal schedule, and that’s how we determined these. Overall, we're really excited that people will have access on day one.
for
QUESTION: I'm very curious to know where $FORE will be listed first. Is it a DEX? Or CEX? Both? I @GatehouseLeon
TIMOTHEA HORWELL: FORE is going to be live for trading on both centralized and decentralized exchanges on the 30th of June. So we made it into Q2. We can't disclose right now those specific exchanges, but the centralized exchange in particular that we've chosen for not just a listing, but an initial exchange offering as well (which allows us to tap into a ton of their high net worth user base through their IEO model), is among the top three platforms of exchanges in the world worldwide in terms of traffic right now. So this is a huge milestone for us. And again, I think it's really going to set the scene for everything that's to come in the future.
QUESTION: What plans does FORE have in 2023? I'm feeling incredibly bullish right now. | @adanikeemmanue1
ANDRES SORIANO: I would say the whole team is feeling the same way, so there are a lot of things to be super excited about coming up. In 2023 alone, we have:
One of the key things that we've been working on at the moment is building FORE Predict on your feedback and we always wanted this to be an iterative process. So when we do launch FORE Predict’s mainnet, it's not going to be the finished version. But ultimately, it will never be the finished version because we will continually be building with you. I just want to thank you again, and I'm excited to be building alongside you all, really, because that's really the kind of company we wanted to build, building a people power predictions ecosystem. We're always active in Telegram and Discord and really welcome your feedback and your insight.
If you’re interested in learning more or you’d like to read our in depth guides, join our newsletter.
