FORE Token: A true utility token

With FORE token about to launch on exchanges on June 30th, let’s deep dive into hyper-deflationary utility token underpinning FORE Protocol. Sign up here to be notified about FORE token launch.

foretoken

/fɔːˈtəʊk(ə)n/

NOUN | a sign of something to come.

"a foretoken of the opportunities that lay ahead"

FORE exists to incentivize the wisdom of the crowd to bring real-world data to the blockchain, creating the architecture for a number of web3 solutions that remove friction from real-world industries like prediction markets, oracles, auditing services, and more. FORE Predict, the first decentralized app on the protocol, is a peer-to-peer predictions platform powered by people. Whether sports, crypto, current affairs, or ad hoc bets between friends, users can create, predict, and validate any market on any real world event - and are rewarded for doing so through the redistribution of fees.

FORE TOKEN UTILITY

Users are rewarded for their activity on FORE protocol in FORE token: the hyper-deflationary utility token and sole currency on the protocol. Many projects class their native asset as a utility token, without much utility to their token at all. FORE, however, 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 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 (analyst, community, or badges) on the NFT marketplace (priced in FORE).
GOVERNANCE: holding FORE will enable governance of the protocol in areas such as market verification.
PLAY2EARN: in the future, users will be able to gain metaverse access by holding FORE.
EVENTS: in the future, users will be able to gain access to exclusive events by holding FORE.

DEFLATIONARY TOKENOMICS

FORE token’s utility is important not just for its status as a utility token, but for its hyper-deflationary nature, as FORE’s supply is directly proportional to activity on the protocol. Put simply, as activity on the protocol increases, the supply of FORE token reduces.

FORE’s maximum supply is capped at 1,000,000,000 FORE, although the circulating supply will never come near that due to this deflationary nature. Several core functions drive the deflationary nature of FORE:

Market Participation - 1% of the value of all markets is burned and removed from the total supply, thus increasing the scarcity of FORE.
NFT Minting - to create a new NFT, a user must lock 1,000 FORE, which is then burned and permanently removed from the circulating supply
Additionally, FORE is removed from circulation through incorrect validation penalties, market creation fees, dispute mechanisms, and more.

Many blockchain projects disregard economic principles when building their tokenomics, dooming them from the start. The FORE team, on the other hand, has carefully crafted token release schedules to best support sustainable tokenomics. Combined with a carefully designed, revenue-generating product from day one, alongside inbuilt aggressive deflationary mechanisms, we can ensure the continual reduction of the supply of FORE token.

‍REDISTRIBUTED REWARDS

Many projects mint tokens in order to generate rewards for holders, essentially superseding any value that would have been generated through inflationary tokenomics. On the other hand, as a deflationary token, FORE incentivizes productive activity in a sustainable way without ever minting new tokens. Instead, a 5% maintenance fee is imposed on all market participation, which is redistributed back to protocol users for their activity.

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

‍TOKEN DISTRIBUTION

FORE token will be live and trading on exchanges (centralized and decentralized) on June 30th (on both Ethereum and Arbitrum networks). Prior to then, FORE’s public sale will take place in three stages: community, launchpad, and centralized exchange IEO.

The whitelist for FORE’s community is currently live! The whitelist will close on June 19th, giving you 48 hours to complete the KYC process. Shortly after, our public round will be open for whitelisted and KYC'ed wallets on a first-come first-served basis until the $100,000 community cap is reached. We believe this approach is fair, allowing everyone to participate, provided they meet the necessary KYC requirements.

Sign up here to be whitelisted.

HOW TO EARN FORE NOW

As a people-powered network, decentralized ownership and incentives are two core tenets of the FORE Protocol. As such, we want to give the community a chance to earn FORE ahead of TGE and mainnet launch, regardless of their financial status.

Join our social ambassador program to earn up to 50,000 FORE

Jumpstart your journey by joining The FORCE and completing quests centered around community engagement, community growth and social amplification through content creation on Zealy. Your rewards will be airdropped according to your activity and leaderboard ranking.

Take part in our public sale referral program to win 100,000 FORE

Generate a referral link here and invite your friends to sign up too. One winner will be chosen at random to WIN 100,000 $FORE! For every friend that signs up, the higher your chances of winning.

With FORE token about to launch on exchanges on June 30th, let’s deep dive into the hyper-deflationary utility token underpinning FORE Protocol.

Sign up here to be notified about FORE token launch.