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Love using FORE protocol if I'm honest, will add some of my markets here (if thats ok) as and when I create them, should others wish to join.
If you think polymarket is good, definitely check out FORE predict as well. Been using both. FORE is just 30 days into mainnet but very very promising
Love to hear it! Let me know what markets you make so I can drop some FORE in them 🔥
That's a great question! Because markets are created via decentralized set of smart contracts, the market creator (or anyone else) cannot alter the market conditions once it has been created. You can learn more about the market lifecycle here: [foreprotocol.io/technology](https://foreprotocol.io/technology) but in short, there are a number of checks and balances in place to prevent foul play! Market outcomes are verified by validators who stake their NFT (with locked FORE) on an outcome to receive rewards. If they incorrectly validate, they lose their NFT, so there's a huge disincentive for them to try and game the system. In the case there is a disagreement between validators, our dispute resolution system allows for a final check and referees in a decentralized way: ensuring that any user has the opportunity to report any violations or concerns about a market or its results. To reinforce and further decentralize the dispute process, we've integrated UMA: a dispute arbitration system that securely allows for arbitrary types of data to be brought on-chain. UMA's third-party network of validators, which operate independently from the FORE platform, establishes an objective and unbiased approach to settling disputes on FORE Predict.
Yes, we do! We haven't shared this yet, but we're working on a model that allows users to participate in markets with leading assets, while ensuring the pools themselves will still use FORE as the main currency. As well as having been highly requested in our community, accepting other assets as payment will enable broader accessibility and help us expand our userbase - while maintaining FORE always has full utility. We’re also prioritizing the integration of a fiat onramp soon to enable access via Apple Pay, Samsung Pay, Visa, Mastercard, bank transfers, and more - allowing ANYONE to use the platform. Again, the goal is broader accessibility and seamless onboarding.
We chose to launch on Arbitrum for its low fees, speed, and rate of adoption (daily tx regularly exceed Ethereum). However, our plan is for FORE to be chain-agnostic, as any truly decentralized platform seeking mainsteam adoption should aim to be. We’ve already integrated Polygon and Fantom into FORE, and we have other chains lined up based on user/industry demand. We're working on a model to facilitate peer-to-peer, cross-chain markets to provide a seamless cross-chain experience for all - regardless of their preferences.
I've already touched on the tokenomics in other questions, but not the supply yet so I'll share a little on that. FORE’s maximum supply is capped at 1B FORE, although it will never come near that number. As I've shared, burns are not arbitrary like many other projects but deflationary mechanisms are built into the protocol itself instead. Through activity on the protocol, a portion of all FORE tokens utilized on the protocol are removed from circulation forever. So, as activity increases on the protocol, the total available supply decreases. In just two weeks since launch, we've already burned nearly half a million FORE through protocol activity - and we're just getting started!
Two main tenets underpin our tokenomics: **Sustainable reward model:** Instead of minting tokens for rewards like most other projects, we reward users by redistributing platform fees back to them for their productive activity. Half of the platform fees are redistributed for activities such as market creation and validation, allowing users to generate income through quick and easy activity on the protocol. 1.5% of the fees go to the protocol as revenue, and 1% is burned and removed from circulation. **Activity-driven deflation:** Continuing on from that last point, FORE's supply is inversely correlated with activity on the platform. As activity increases, supply reduces. The protocol features several deflationary mechanisms: \- 100% of FORE to mint validator NFTs burned \- 100% of market creation fee burned \- 1% of every market burned \- FORE is also burned through incorrect validation penalties, market dispute mechanisms, and more. ​ In short, we've built a hyper-deflationary token with a sustainable, deflationary, fee-driven reward model. These rewards drive further activity on the protocol, which in turn reduces the token supply… and the cycle continues.
Well, I'll correct you on the tense as FORE already has usability and utility right now 🔥 FORE is a true utility token as it underpins every transaction in our ecosystem as the sole currency. The three primary utilities: **CREATE:** all markets created with FORE, and creator rewards are paid out in FORE. **PLAY:** all market participation is in FORE, and all winnings from successful market positions are rewarded in FORE. **VALIDATE:** all validator rewards paid in FORE, which can either be claimed or compounded into the value of an Analyst NFT.
There’s a very important reason for this burn! Rather than hosting arbitrary burn events, the deflationary nature of FORE is built into the protocol itself. It’s simple: as activity on the platform increases, supply decreases. FORE is burned with nearly every transaction on the protocol: \- 100% of FORE to mint validator NFTs burned \- 100% of market creation fee burned \- 1% of every market burned \- FORE is also burned through incorrect validation penalties, market dispute mechanisms, and more. We built this sustainable reward model to encourage organic growth, user acquisition, and sustainability of the protocol itself, creating long-term revenue-generating opportunities for active participants in our ecosystem.
Great question! Markets can be created in any language on FORE - during our test net we saw markets in Korean, Indonesian, and Russian and we hope to see various languages on main net too. As we prepare to expand globally, we’re actually working on a translation integration function to allow users to easily translate markets from any language to any other language seamlessly within the app. Meanwhile, we’re also working on a few language-specific versions of the platform in partnership with some big players in specific regions. If you create a market in a language other than English, let us know so we can highlight and promote this to our regional communities 🔥
And yes, you could create this market in less than 60 seconds and earn a share of the total size! I've just created it now for you: https://app.foreprotocol.io/market/0xA46B9226b4AA646bD775ae17Bf5b7915c4898902/265 You could either set the starting liquidity and odds, or leave this for the market to decide. Once live, the next step is to ‘market your market’, within and beyond the FORE community. The more participation, the greater your rewards! Once the market closes, you can then claim your 0.5% of the total market. It really is that simple 🔥
The cost to create a market is 10 FORE (which is around $1.40 right now). https://www.coingecko.com/en/coins/fore-protocol It’s a low entry amount, but we introduced this to prevent people from spamming markets and to ensure they are thinking about what markets they are creating - ensuring a good user experience for everyone. As with many fees on the protocol, this is burned 🔥
Yes, I love this idea! There’s a TON of markets you could create on this: \- Performance of the Inverse Cramer ETF \- Accuracy of specific calls over a specific time frame \- Success rate of calls during earning seasons \- Which of Cramer’s calls will actually perform (lol, good odds on that one) \- Expected monthly performance of a hypothetical portfolio based on his calls \- Ratio of bullish to bearish calls made over a period Give it a go and let us know what you come up with, I’ll drop some FORE in 🔥 [app.foreprotocol.io/creator](https://app.foreprotocol.io/creator)
Polymarket is a predictions market that, although built on blockchain, operates in a similar way to traditional prediction markets like bookmakers and casinos. Polymarket is still ‘the house’ as they determine which markets you can participate in. FORE is not a prediction market itself, but simply a set of smart contracts to facilitate community creation, participation, and validation of prediction markets. Thus, there is no house on FORE. FORE is entirely powered by people, as we believe prediction markets should be! You create the markets, you participate in markets against each other, and you validate the markets yourselves. And you're rewarded for this productive activity through the redistribution of platform fees, in the form of our deflationary utility token. You can take a look at our recent FORE vs Polymarket case study: https://www.foreprotocol.io/post/polymarket-case-study
Hi again 🙂 A lot of decentralized prediction markets so far have had the same/similar incentive models as centralized prediction markets, essentially capturing all of the value themselves... But prediction markets are built on the wisdom of the crowd. At FORE, we prioritize the community as the driving force behind the platform, and the protocol is designed to grow and develop along with its users. By providing the architecture to allow users to create prediction markets for almost any event, while rewarding members for productive activity through redistributed fees, we're creating a self-regulating and self-sustaining ecosystem that brings transparency, democracy, and revenue generation to predictions in ways not seen before.
Finally, what separates us from exchanges, brokers, or sports betting sites is that those entities are carefully designed to extract maximum profit from you. What is exploitative, and rightfully creates such negativity around the prediction space, are the incentive structures that centralized entities like casinos and bookmakers employ to ensure “the house always wins”: whether hidden fees, predetermined odds that disadvantage the player, or halting payouts, they do everything they can to extract as much value from you in whatever way possible. Casinos and bookmakers are seeing record profits, while users are seeing record losses... That's not a coincidence. But we're changing that for the first time on FORE, you hold the power. You create the markets, participate in them, validate them, and are rewarded for doing so!
The same logic applies for sports betting. On most bookmakers, you’re limited mostly to game outcomes or goals. But on FORE, you can find or create a market on anything related to that game or team: goals scored, weather conditions, red cards, player line up, match attendees, substitutions, etc. Regardless of the market topic though, you can find better odds, lower fees, and are guaranteed trustless payout (unlike bookmakers who stop you from withdrawing when you win).
Markets on FORE are not just limited to assets that you could long or short. Even if you do specifically focus on prediction markets for assets, you could take a position on any event related to an asset beyond price alone: market cap, TVL, staking rewards, trading volume, etc. You can take a look at a recent example we created for all the types of markets you can create on Bitcoin: [https://www.foreprotocol.io/post/bitcoin-markets](https://www.foreprotocol.io/post/bitcoin-markets) \- Price Projections: take a position on the future price of Bitcoin, whether it will reach a certain price point within a specific time frame or whether it will surpass or fall below a certain threshold. \- Market Capitalization: markets can be made on the future market capitalization of Bitcoin, considering factors such as adoption rates, regulatory developments, and technological advancements. \- Adoption and Usage: positions can be taken on the adoption and usage of Bitcoin as a form of payment or investment globally, assessing its acceptance in different sectors and countries. \- Regulatory Developments: predict the impact of regulatory decisions on the price and adoption of Bitcoin in different countries and regions. \- Technological Developments: forecast the impact of technological developments such as upgrades to the Bitcoin network, integration of new features, or improvements in scalability and security. \- Institutional Investments: create markets on the future involvement of institutional investors in the Bitcoin market, considering factors such as the launch of Bitcoin exchange-traded funds (ETFs) or the adoption of Bitcoin by large financial institutions. \- Market Sentiment: positions can be made on the overall market sentiment towards Bitcoin, based on factors such as social media trends, public perception, and sentiment analysis of news articles and online discussions. \- Bitcoin Dominance: predict the dominance of Bitcoin in the overall market, considering the emergence of new assets and their potential impact on Bitcoin's market share. So, there's much more to this than opening a position!
This is a great question because it’s a really important part of our tokenomics. I’m sure everyone here is familiar with traditional staking models which seem promising at the start, but tend to: \- Inflate supply for rewards (impacting the price of the token long term) \- Require you to lock up tokens for an extended period of time \- Bring you in with high APRs that reduce over time \- Determine an asset as a security We believe that in order for a reward model to be sustainable, it must be attached to productive activity. Instead of minting tokens for rewards like most other projects, we reward users by redistributing platform fees back to you for your activity - allowing you to generate income in a sustainable way. In the last two weeks alone, users have already generated thousands of FORE in rewards alone! Of the 5% maintenance fee taken from each market: \- 0.5% redistributed to market creator \- 2% shared among validators \- 1.5% to the protocol as revenue \- 1% burned and removed from circulation You can learn more here: https://www.foreprotocol.io/post/sustainable-rewards
**Another way to profit on FORE** without even holding the token is via our ‘Friends on FORE’ referral program launching later today! This hasn’t been announced yet and won’t be until later, so you guys are the first to hear about this. We’ve got to bring some alpha to r/CryptoCurrency, after all 📈 **It’s really simple to get started:** **CONNECT:** Connect your wallet to FORE Predict and click ‘Referral’ **SHARE:** Generate your unique referral link and share it with your friends **EARN:** You earn 1% of activity generated via your link **CLAIM:** Claim your FORE rewards immediately, or wait to unlock greater rewards **What’s in it for your friends?** $10 off their first position in any market 5% discount on their first Analyst NFT mint If you want to get started ahead of us announcing this later today, you can head here, claim your $10 welcome bonus, and start earning FORE: https://app.foreprotocol.io/?referrer\_id=AegJdNRzBAaGBBTU
**2. Market Participant:** This one is simple! As with any other prediction market, you can take a position on the outcome of future events on FORE. The difference with FORE is, you’ll find any market, better odds, low fees, and transparent and trustless payout. Ever heard the [horror stories](https://www.youtube.com/watch?v=a4Nj3uhRLYs&ab_channel=FOREProtocol) of users winning big at a casino and and getting their accounts closed? That can't happen on FORE - everything is secured by decentralized smart contracts. And, unlike traditional bookies, there are no hidden fees, and 50% of fees are redistributed back to users. **Learn how to become a profitable player here:** https://docs.foreprotocol.io/fore-protocol/fore-predict-pro/ultimate-player
**1. Market Creator:** You can ‘Become the bookmaker’ and earn rewards for creating prediction markets on anything you like. You could create a market on literally anything, from “Will Bitcoin his $45,000 before the end of 2024?” to “Will the FORE team answer 15 or more questions during the r/cc AMA?” As a creator, you earn 0.5% of the total market size, regardless of the outcome - creating a ‘risk-free’ way to participate in predictions for the first time. **You can learn how to create a winning market here:** https://docs.foreprotocol.io/fore-protocol/fore-predict-pro/ultimate-creator
There are three main ways in which you can use and generate revenue on FORE: as a market creator, as a market participant, or as a market validator. We built these roles to appeal to various risk-profiles beyond the ‘traditional bettor’, and I’ll share more on each of these. I'd love to hear which role interests you the most!
I’ll start with this one to set the scene on the FORE ecosystem. What you’re describing feels like ‘just another crypto project’ imho, which FORE certainly is not! FORE Predict is the first of its kind: a people-powered predictions platform where you generate income for creating, participating in, and validating prediction markets. Whether NFT prices, crypto volatility, sporting events, the next US president, or even the next AMA, you can take a position on the future outcome of any event on FORE. And in true decentralized fashion, you’re rewarded for your activity with up to 50% of the platform fees. We’ve built the first truly decentralized predictions platform that’s powered by you. A predictions ecosystem where the house doesn’t win, but you do. A trustless, secure set of smart contracts that enables you to profit off your opinions on anything, and without the bad odds and high fees seen on centralized counterparts. A decentralized platform where you hold the power, and your own funds. And above all, a peer-to-peer predictions ecosystem where you have the freedom to create, participate, and validate any markets on any events, and can generate revenue while doing so. But our launch two weeks ago was just the start. Next year, we’ll see the rollout of new features, new integrations, and new solutions that enable you to generate income sustainably through your productive activity. With our hyper-deflationary FORE token at our core, we’ll continue to ideate and iterate to develop new solutions beyond predictions, heading into new sectors ripe for decentralization and disruption. And we’ll be doing this with our community members, holders, and users in mind. I hope you guys will be joining us for the ride! 📈
Hi r/CryptoCurrency \- thanks for having us again! I’m Timothea (excuse the username, I can’t change it 😂), and I’m one of the co-founders of [FORE Protocol](https://foreprotocol.io). I’ve been in the DeFi space since 2019, and I’m passionate about building decentralized solutions that shift the power (and value) from centralized entities to the individual. Some of you may remember, but we joined you for an AMA a few months back just before we announced the launch date of our first solution FORE Predict - the first people-powered predictions platform. We launched just two weeks ago, so it was only right we came back to tell you all about it ;) There are a ton of brilliant questions here, so I’ll try and get through as many of them as I can! If you want to learn any more about FORE in the meantime, you can find all of our links here [https://linktr.ee/foreprotocol](https://linktr.ee/foreprotocol)
Do you plan to accept other assets than $FORE on the protocol?
A heartfelt thank you to all who took part in this thread along with our host, r/cryptocurrency, for this AMA session. Curious to find out if you're among the winners sharing the 1,000 $FORE reward? Visit [here](https://www.reddit.com/r/foreprotocol/comments/176vsdh/comment/k4osuwa/) for the list of winners. Once again, we appreciate your active participation!
No FORE-sight on this one.
Thanks for hosting an AMA! I’m wondering whether FORE is on a particular chain (or chains) and how the platform would function. I.e. is most of the activity on chain and through smart contracts, or through a platform like discord, telegram or reddit.
Hi all It’s time for our new AMA with the Fore Protocol! Introducing FORE Predict, the first decentralized application (or dApp) built on FORE - the AMA will go live on October 12, 7PM UTC. Fore has burned 500 moons to host this AMA. Fore will be rewarding 1000 FORE rewards to those who ask the most insightful questions. Go here to ask questions: https://www.reddit.com/r/CryptoCurrency/comments/1757uj3/ama_with_fore_protocol_introducing_fore_predict/
Another great question! That's right, its a fully decentralized peer-to-peer predictions market. So users create their own markets (and earn a % of the total contributions to their market), other users can participate in the markets against each other (and have better odds and lower fees); and the community validates outcomes (again, for a reward - you're probably seeing the theme...) The way that we ensure that malicious actors do not game the system has to do with these incentives. In short, acting in a malicious way on FORE Protocol is always a negative expected value calculation and as a result it makes the behavior much less likely. Also, we incorporated an entire dispute system (also with its own incentives) which ensures that if there is a malicious actor, market or validator, there is no impact on other users or participants.
Since our technology is all on the blockchain and the protocol is fundamentally community driven, we think that we have a unique offering compared to some of the names you mentioned, and compared to the industry as a whole. FORE is unique in that it allows users to participate in the upside from the growth of the overall ecosystem in a way that they really can't elsewhere. Check this out for a bit more detail: [https://www.foreprotocol.io/technology](https://www.foreprotocol.io/technology)
Thanks for the question! Here are some highlights from our roadmap and where we are generally. Also some alpha for you ;) Main net will be launching very soon, so be sure to get involved asap. We just completed our smart contract security audit, and we will be sharing the results with the community soon ahead of main net launch. Upon main net, you’ll be able to create prediction markets on any event, participate in markets against others, and validate market outcomes - and earn rewards while doing so. We’re so excited for FORE Predict to finally be live! After main net launch, the following is on our roadmap: \- FIAT onramp integration \- Gamification seasons \- Real-world partners + sponsorships \- Additional chain integrations \- Secondary market launch (where users can trade their markets and positions as NFTs) \- FORE Predict 2.0, with new market structures like floating points, categorical, parlay markets, and more In 2024, we plan to scale FORE Predict with a mobile app, and finally expand the FORE ecosystem with B2B solutions such as FORE Oracle, FORE Audit, FORE Sight, FORE Resource, and more. If after this AMA you’re interested in checking out FORE Predict (which I hope you are!), you can get a $25 bonus on your first market here: [foreprotocol.io/campaigns/welcome-bonus](https://foreprotocol.io/campaigns/welcome-bonus)
Thanks for the question! I addressed this in a few other questions, so I'll provide the same breakdown here :) Half of the platform fees are redistributed for activities such as market creation and validation, allowing users to generate income through quick and easy activity on the protocol. Of the 5% maintenance fee taken from each market: 0.5% redistributed to market creator 2% shared among validators 1.5% to the protocol as revenue 1% burned and removed from circulation In order for a reward model to be sustainable, it must be attached to productive activity. Our reward model allows users to generate income through activity such as market creation and validation, benefiting the protocol as a whole. ​ For more details, you can check out our tokenomics and more about the FORE platform here: https://www.foreprotocol.io/tokenomics
Awesome question! Right now, we’re on the cusp of our mainnet launch. Our security audit has JUST been completed and we’re incredibly happy with the results (some alpha here for you r/cc folks, as we haven’t announced its completion to our community yet). We will be publishing the results shortly, followed with an official live date for our main net (due to be live in the coming weeks). Upon main net, you’ll be able to create prediction markets on any event, participate in markets against others, and validate market outcomes - and earn rewards while doing so. After years in the making, we’re so excited for FORE Predict to finally be live! After main net launch, the following is on our roadmap: \- FIAT onramp integration \- Gamification seasons \- Real-world partners + sponsorships \- Additional chain integrations \- Secondary market launch (where users can trade their markets and positions as NFTs) \- FORE Predict 2.0, with new market structures like floating points, categorical, parlay markets, and more In 2024, we plan to scale FORE Predict with a mobile app, and finally expand the FORE ecosystem with B2B solutions such as FORE Oracle, FORE Audit, FORE Sight, FORE Resource, and more. If after this AMA you’re interested in checking out FORE Predict (which I hope you are!), you can get a $25 bonus on your first market here: [foreprotocol.io/campaigns/welcome-bonus](https://foreprotocol.io/campaigns/welcome-bonus)
We appreciate the detailed response & wish FORE and its team all the best.
We have a lot of respect for the team at Augur for their vision and what they achieved in a short span of time. Its success was indeed short-lived, we believe, for several reasons: Inflationary tokenomics: Augur had a model where market validators would stake $REP in order to earn validator rewards. But many staking models have turned out to be unsustainable in the long-term due to inflationary tokenomics driving the price of the token down. They continued to mint new tokens for these rewards, and activity began to decline on Augur when staking $REP was no longer financially viable, as the value of the token had decreased so much in that time. Without participants willing to validate payouts, the system collapses. We have worked tirelessly to ensure the deflationary nature of FORE is built into the protocol itself. It’s simple: as activity on the platform increases, supply decreases. Several core functions drive this as I touched on previously, but deflation is built into almost every transaction on the protocol. And instead of minting new tokens for rewards, half of the platform fees are redistributed for activities such as market creation and validation, allowing users to generate income through quick and easy activity on the protocol. That incentive drives further activity on the protocol, which in turn reduces the token supply… and the cycle continues. Scalability: One of the main issues facing Ethereum-based projects like Augur was scalability. Ethereum's network congestion and high gas fees made it expensive and slow to use Augur, which discouraged users and traders. FORE Predict is launching on Arbitrum for some of the lowest fees, and we’ve already integrated Polygon and Fantom too. We will continue to roll out additional EVM-compatible chain integrations over time based on low gas fees and user-demand, ensuring that users retain as much of their earnings as possible. User experience: The user experience on Augur was not as user-friendly as centralized alternatives, hindering adoption among mainstream users. Decentralized predictions markets in general have failed to capture market share from traditional markets due to the difficulty in onboarding newcomers into DeFi. FORE Predict will have a fiat onramp soon after launch to participate via Apple Pay, Samsung Pay, Visa, Mastercard, bank transfers, and more - allowing ANYONE to use the platform. Poor user acquisition strategy: The opportunity for users to participate in markets on any event is something that Augur set out to achieve, but its broad offering resulted in a lack of liquidity and traction without a supporting strategy to bring in users in key verticals. While users can create markets on any event on FORE, our user acquisition strategy will be vertical-focused: initially targeting users interested in sports, crypto, politics, and esports around notable events. This will allow us to bring in users interested in similar markets, ensuring market participants can find markets on their desired subjects, and have other participants in which to take a position against.
Our legal strategy is complex and multi-faceted, and, beyond the development of the protocol itself, is the area we’ve probably spent the most time and resources over the past two years. Our legal team is constantly reviewing the regulatory landscape to preempt, prepare, and future-proof. There are certain jurisdictions we will be steering clear of completely (including geo-blocking), and other jurisdictions we will be regularly monitoring. For the jurisdictions in which we will be operating and promoting FORE, it’s important to note we are not a ‘gambling’ entity based on various distinctions (including, but not limited to, the use of our own token that is not USD-denominated, user-created markets, and much more). We're comfortable with our current positioning in line with existing regulatory frameworks, and we'll continue to monitor, iterate, and evolve in accordance with them!
Great question! People-powered predictions mean just that: users create markets, users participate in markets against each other, and users validate market outcomes. So, how do you prevent bad actors in a people-powered ecosystem? How do you ensure the validity of a decentralized ecosystem, when payout depends on accuracy? In the case of a disagreement between Analysts, a dispute is raised and is resolved by trusted, high reputation validators. This step is crucial, as prediction market outcomes hinge on accurate and reliable validation mechanisms. Our dispute resolution system allows for a final check and referees in a decentralized way: ensuring that any user has the opportunity to report any violations or concerns about a market or its results. While overall we strive for fast resolution and payout, the validity of this payout is crucial. All participants in the disputed market have to wait until the dispute is resolved and payout is released, which can take up to 96 hours. In that time, the dispute will be resolved by the High Guard: a decentralized network of active Analysts with Black NFTs (the highest tier) who have proven their reputation score to the community and the protocol. To reinforce and further decentralize the dispute process, we will be leveraging UMA’s technology: an optimistic oracle and dispute arbitration system that securely allows for arbitrary types of data to be brought on-chain. UMA's third-party network of validators, which operate independently from the FORE platform, establishes an objective and unbiased approach to settling disputes on FORE Predict. You can learn more about this partnership here: foreprotocol.io/post/uma-partnership And our dispute process here: foreprotocol.io/post/dispute
FORE Token is currently trading on MEXC and Uniswap!
As a market creator, you have the ability to create unique and compelling prediction markets, determining market parameters such as market prompt and categorization, prediction phase closure, validation phase start, verification source, and starting odds. You're rewarded with 0.5% of the total market size, so as market interest and participation increases, your earnings will increase too. This provides an added incentive for you to ‘market your market’ and actively promote your markets to attract more participants, liquidity, and volume. This model benefits everyone in the ecosystem: holders, players, creators, and the FORE foundation. This innovative approach flips the traditional model on its head, allowing you to ‘become the bookmaker’ and earn rewards regardless of the outcome. So yes - you can essentially become the house that always wins, as you can earn rewards no matter the result of the market.
Just a couple corrections: FORE\* and hyper-deflationary\* design, I think you mean :) But yes, this is one of my favorite parts to touch on, and maybe for personal reasons. A bit of backstory as to why we've focused so heavily on what we call hyper-deflation: at the back end of 2021 the other founders and I were going full degen on stupidly inflationary DAOs. Despite our backgrounds in blockchain and finance, we were blinded by the crazy APYs we saw, even though we knew deep down that they could never work because of their inflationary tokenomics. We decided we wanted to build something much better that put users first. Too many blockchain projects fail to take into account the basic laws of economics when building their tokenomics, and other projects simply mint additional supply without consideration of second or third order consequences. Many existing 'staking' or 'passive income' models have turned out to be unsustainable in the long-term due to inflationary tokenomics superseding any value promised through these models. FORE is a true utility token in the sense that it underpins all activity on the protocol, and the supply of the token is directly proportional to this activity – as is the token’s hyper-deflationary nature. Instead of minting new tokens for rewards, we’ve built a sustainable, deflationary, fee-driven reward model: rewarding productive activity through fee redistribution. That incentive drives further activity on the protocol, which in turn reduces the token supply… and the cycle continues. There’s two main factors here: 1). Sustainable reward model Half of the platform fees are redistributed for activities such as market creation and validation, allowing users to generate income through quick and easy activity on the protocol. Of the 5% maintenance fee taken from each market: 0.5% redistributed to market creator 2% shared among validators 1.5% to the protocol as revenue 1% burned and removed from circulation In order for a reward model to be sustainable, it must be attached to productive activity. Our reward model allows users to generate income through activity such as market creation and validation, benefiting the protocol as a whole. 2). Activity-driven deflation Rather than hosting arbitrary burn events, the deflationary nature of FORE is built into the protocol itself. It’s simple: as activity on the platform increases, supply decreases. Several core functions drive the deflationary nature of FORE: Market Participation: 1% of the value of all markets is burned on market resolution and removed from the total supply. NFT Minting: 100% of FORE used to mint NFTs is burned. To create a new NFT, a user must lock 1,000 FORE, which is then permanently removed from circulating supply. Additional Burns: FORE is removed from circulation through incorrect validation penalties, market creation fees, dispute mechanisms, and more. Together, we believe this sustainable reward model alongside activity-driven deflation is far more promising and sustainable than gimmicky, inflationary staking or passive-income models. FORE’s sustainable reward model encourages organic growth, user acquisition, and sustainability of the protocol itself, creating long-term revenue generating opportunities for active participants in our ecosystem.
Well, we do not class ourselves as a ‘gambling’ platform, but rather a predictions ecosystem. Why? The value of the wisdom of the crowd is apparent - prediction markets prove to be more accurate than individual experts in predicting outcomes. We intend to use this wisdom to create a myriad of solutions (decentralized oracles, market insight tools, etc), so we think the crowd should be rewarded for this. Decentralizing this industry shifts the power away from centralized entities (like casinos) to create an opportunity for all participants to take part, and all participants to share in the rewards. FORE exists to create a decentralized predictions ecosystem where users hold the power. Users retain ownership of their assets and are rewarded for their productive activity - not just charged for the privilege of using the platform. Users aren’t playing against a house that always wants them to lose, but against other players, with market-determined odds and low fees. That’s why we built a global, people-powered predictions ecosystem: where people have the freedom to create, participate, and validate any markets on any events, and are rewarded for doing so through the redistribution of platform fees! Our user acquisition strategy is two-fold: 1. Bringing in new users via highly targeted user acquisition focused on user needs and interests 2. Retaining users by incentivizing activity to create a self-sustaining ecosystem https://youtu.be/a4Nj3uhRLYs?si=YJuW0XYuo0edJD7B
Hi everyone! Its Merv Merzoug, co-founder at FORE Protocol! We will be getting started with the AMA soon. Thanks for all your great questions! Proof: [https://x.com/mervmerzoug/status/1712531275871834371?s=46&t=ipjgYHx1ROjO6QNzCDbKkw](https://x.com/mervmerzoug/status/1712531275871834371?s=46&t=ipjgYHx1ROjO6QNzCDbKkw)
In the context of prediction markets, what are the advantages of using a peer-to-peer technology approach, as employed by FORE? How does FORE eliminate the need for a centralized third party and counterparty risk, ensuring a trustless and transparent experience for participants?
Is FORE available in the US?
I have a few questions relating to your decentralized oracle system and how disputes are processed. 1. When a dispute is created, what is the process that determines the resolution of the dispute? Who decides if it is "Won A/B", "Draw", or "Invalid"? Is that what the High Guards do? 2. Who are the High Guards/Validators? Where do they come from? If I'm understanding correctly, they are not the same as the Analysts. Are they also a permissionless/trustless group like the Analysts, or are they somehow curated? 3. So, anyone can buy an Analyst NFT and lock some FORE into it, and then vote with that stake on the real-world outcome, right? Is there any way that the pool of analysts can profit from some type of 51% attack? Like, I understand that they are incentivized to vote honestly in order to not have their FORE slashed, but is there any theoretical way a bunch of Analysts could extract value by voting dishonestly, sacrificing their staked FORE, and making away with net gains due to swinging the outcome in favor of bets they are holding? Is this protected against by the High Guard who would simply not resolve disputes in favor of the dishonest majority? I guess if I understood the dispute-resolution process, I would probably also know the answer to this question. 4. Is there any reason you opted to not integrate an existing oracle like Chainlink that already has a lot of nodes and a track record of reliability and security? Are you not sort of reinventing the wheel by developing your own oracle solution from the ground up? Thanks!
Nice pump for moons AND FORE 🔥 for an AMA - what a great day!
If it sounds too good to be true, it usually is. How does FORE intend to thread the needle between "the house always wins" and staying operationally solvent?
I've posted my question in the ongoing AMA. Was asking what differentiates FORE from AUGUR, a prediction market project that was advised by Vitalic Buterin & is currently down 99% from ATH.
When should we be expecting FORE airdrop?
So basically, using FORE, we can become our own casino *(and possibly by extension be the house that always wins)*?
Hi all It’s time for our new AMA with the Fore Protocol! Introducing FORE Predict, the first decentralized application (or dApp) built on FORE - the AMA will go live on October 12, 7PM UTC. Fore has burned 500 moons to host this AMA. Fore will be rewarding 1000 FORE rewards to those who ask the most insightful questions. Go here to ask questions: https://www.reddit.com/r/CryptoCurrency/comments/1757uj3/ama_with_fore_protocol_introducing_fore_predict/
How does FORE Protocol plan to ensure the reliability of prediction outcomes when it’s powered by a decentralized network of validators? What measures are in place to prevent potential manipulation? For example, if a malicious group of analysts say that Team A won over team B, but in reality it was the other way around. Thanks for burning Moons and doing this AMA!
Hi all It’s time for our new AMA with the Fore Protocol! Introducing FORE Predict, the first decentralized application (or dApp) built on FORE - the AMA will go live on October 12, 7PM UTC. Fore has burned 500 moons to host this AMA. Fore will be rewarding 1000 FORE rewards to those who ask the most insightful questions. Go here to ask questions: https://www.reddit.com/r/CryptoCurrency/comments/1757uj3/ama\_with\_fore\_protocol\_introducing\_fore\_predict/
With mainnet just around the corner Fore protocol looks to be the best prediction market around. With Fore there is no house to take advantage of you. At FORE you have 3 ways to play and earn & through a trustless payout system and no counter-party risk 1 CREATOR - you create a market on any real-world event. Creators earn .5% of the total market value. The bigger your market the more you earn 2 PLAYER - take a side on a market. Odds are determined by players, not the house 3 Analyst - Stake your #NFT to validate market outcomes to resolution and earn 2% of protocol fees for doing so