Diving Into Fore Protocol - Roles, Tokenomics And The Bitcoin ETF Effect

9 months ago

In December 2023 I dived into Fore Protocol and enjoyed the first people-powered predictions ecosystem where the users create, participate in, and validate prediction markets ... and they are rewarded for doing so. The ecosystem keeps growing and the FOREfluencer social ambassador program launched phase two!

Are you ready for a bonanza of prediction markets and 15,000 $FORE allocated for the newest FOREfluencer campaign? Earn a share of 15,000 $FORE with the Fore Protocol zealy quest! The community members will be able to earn a share of 15,000 FORE through various zealy activities that support the growth of the FORE ecosystem.

Join the Fore Protocol discord for updates and extra XP. Fore is unique because it is totally user controlled – users create markets, participate in them, and resolve them, without centralized intervention. The markets are automatically settled, unless a dispute is raised. Fore uses UMA for security and disputed market outcomes will be submitted to UMA's Optimistic Oracle for resolution.

Why I've grown fond of Fore Protocol? Because they have a top team, deployed a top prediction markets protocol, they are using UMA's Optimistic Oracle as a way to solve disputes... and $FORE has a synergy that makes me feel good about the token's future!

The $FORE token has hyper-deflationary nature! The token's role is to be the web3 solution that remove friction from real-world industries like prediction markets, oracles, auditing services, and more!

You can use $FORE to create markets and be paid out in FORE. Play and win $FORE Mint the Analyst NFT and validate markets! Use you portfolio to vote in governance.... and more to come! Even better... use $FORE tokens to create markets! Play and win $FORE! Mint the Analyst NFT and validate markets! Use you portfolio to vote in governance.... and more to come! The whole ecosystem is in synergy!

The $FORE token maximum supply is capped at 1 Billion 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! The burning mechanism was implemented to markets and for NFT minting, with 1000 $FORE being burned with every Analyst NFT minted!

The two core deflationary functions that drive the $FORE are perfectly balanced, with 1% of the value of all markets is burned and removed from the total supply and those tokens that are burned for NFT minting!

Dive into the $FORE tokenomics and enjoy a brand new world of prediction markets! Have a look at the tokenomics and you will understand why this changed the prediction markets ecosystem.

Want to see my biggest win so far? I was one of those that though that the SEC will not approve any Bitcoin ETF before the 7th of January, and I was right! This prediction was made when everyone was going for "YES" and going against the tide was profitable.

Why No? Because it was less expected and the Cryptoverse outcomes are always random. I was looking at the bigger picture, and the early approval would have started a value surge. No Bitcoin ETF would triple my $FORE holdings... win-win situation!

The Bitcoin ETF was approved by the US SEC, but on the 10th of January! This was one day after a post on the SEC’s X account falsely claimed the regulatory agency had approved the listing and trading of spot bitcoin exchange-traded products. Ohh Gary.... you are clueless!

Was this a bold move? Am I on a slippery slope and going back to compulsive gambling? It's a gambling problem only if you are losing! Until now I won all the predictions I've made with Fore Protocol, and the token count reached 2,755 $FORE! Not bad at all!