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Many projects class their native asset as a utility token, without much utility to their token at all. FORE token is a true utility token because it is the sole currency on the platform and underpins all activity on FORE Protocol. To ensure FORE token is a utility token from day one, we recently announced the decision to launch FORE Predict's main net on the same day as our Token Generation Event (instead of three months later as initially set out in our roadmap). This strategic decision was made to ensure that FORE token has full utility from day one, while ensuring multiple revenue streams for FORE, and our users, from the offset.
As we get ready for FORE Predict's mainnet launch and FORE token's TGE later this quarter, we want to ensure that the participants in FORE's token sale have access to tokens from day one in order to utilize the platform - whether creating markets, participating in markets, or validating markets. We are product-first, and our primary focus is user acquisition and protocol volume. Thus, we have made changes to our vesting schedule with the primary goal of greater protocol volume and liquidity.
The changes include a 5% unlock on TGE for private and seed round participants, a shorter cliff and vesting period for all token sale rounds, and a 'flatter' token release schedule overall. We are confident that this is a positive step towards building a sustainable protocol for everyone, whether community or Analyst:
🔥 Provide token-sale participants revenue-generating opportunities from day one
From day one, FORE holders will be able to put their FORE to use on the protocol to earn rewards. By productively contributing as either a creator or an analyst, holders will be able to generate 'almost' passive income from day one. We want to ensure
that token-sale participants have the opportunity to take part from the start, and are able to benefit from being an early user of the protocol.
🔥 Drive user acquisition and protocol volume from day one
Enabling token-sale participants access to a proportion of their tokens on day one will result in greater volume on the protocol, as participants seek opportunities to maximize their holdings. With token-sale participants likely to create markets in order to generate creator rewards, this would increase the liquidity of markets on the platform, creating a more varied and attractive platform for players.
🔥 Boost deflationary mechanisms from day one
With token-sale participants also likely to become Analysts on day one in order to take advantage of the early validator rewards and tier structure, this would result in a significant amount of FORE being removed from supply from day one, as all FORE used to mint NFTs is burned. Additionally, greater protocol volume would also encourage FORE's deflationary mechanisms, as 1% of every market is burned.
Click here to learn more about our wider tokenomics.
If you're interested in gaining access to a limited portion of private sale reserved for active community members, there’s still time to join The FORCE.
We'll soon be releasing another way in which select community members can participate in our private round, as well as releasing details on the public sale and launch strategy. Be sure to remain active, turn notifications ON, and sign up to our newsletter below to be notified!
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