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$MOON Burn
Hello, r/cryptocurrency! Thank you for hosting us for an AMA.
We are thrilled to introduce FORE Protocol to all of you, a project we've been diligently developing since the last quarter of 2022. We recently launched the FORE token on June 30th, and we are gearing up to announce the official launch date of our mainnet very soon!
Interested in learning more about our project? Feel free to ask any questions during our session on Thursday, October 12th, between 7 pm and 9 pm UTC.
Merv, FORE Protocol’s CEO and Co-founder will be available to respond to your questions during the AMA session.
FORE Mission
Traditional prediction markets are not broken, they’re working exactly as designed. All value is captured by centralized entities – whether casinos, bookmakers, investment banks, insurance companies, or exchanges. The house always wins, as they say.
Can you imagine a casino or bookmaker sharing a percentage of its revenue with all of its participants? Not likely. They, and their shareholders, are profit seekers, and operate in accordance with their own tried and tested incentive structures. With promises of quick profit, while using every trick in the book to extract maximum value, they create a framework of incentives to get users into the door and walk out with less money than when they walked in. Participation in such markets is often unproductive and unprofitable: odds are pre-set against the player, fees are high, and revenue is never shared with its participants.
FORE is here to change that. We exist to democratize, decentralize, and disrupt the predictions landscape as we know it: inverting the traditional prediction model to create sustainable value for all participants. Whether sports, crypto, current affairs, or ad hoc bets made with friends, create, participate in, and validate any market on any real-world event, and earn rewards by doing so. Built on a decentralized network of validators that index real-world outcomes on any real-world event to create a limitless oracle, we’re powered by people to create the first infinitely-scalable predictions protocol.
About us
FORE is a decentralized peer-to-peer predictions ecosystem powered by people. People create prediction markets, determine market odds, participate in markets against each other, and validate market outcomes themselves.
Whether popular events in sports, esports, current affairs, or crypto, to incredibly niche events like Discord rankings, flight delays, or whether Donald Trump will go to jail, you can find (or create!) it all on FORE.
Unlike on centralized bookmakers, users are actually rewarded for using FORE: platform fees are redistributed back to users for all productive activity.
💰 Creators create prediction markets and earn 0.5% of the total market size
💰 Players participate in markets against each other, with incredibly low fees, better odds, and trustless payout
💰 Analysts validate market outcomes to earn a share of 2% of the total market size.
This self-regulating and self-sustaining platform creates a truly decentralized and democratic predictions ecosystem where the house doesn’t win – the users do. Users are rewarded for this activity in FORE’s hyper-deflationary utility token. The protocol features several hyper-deflationary mechanisms, reducing the total supply with every transaction to ensure that FORE’s utility token remains strictly deflationary. Thus, the token’s supply is inversely correlated with activity on the platform: as activity increases, supply reduces.
Giveaway
Incentives and rewards are at FORE’s core. We will be rewarding 1000 FORE rewards to those who ask the most insightful questions.
Stay informed about FORE Protocol's latest news and advancements:
Website: http://foreprotocol.io
Docs: http://docs.foreprotocol.io
Blog: http://foreprotocol.io/blog
Discord: http://discord.gg/foreprotocol
Twitter: http://twitter.com/foreprotocol
Telegram: http://t.me/fore_protocol
News: http://t.me/foreprotocolnews
Reddit: http://reddit.com/r/foreprotocol
LinkedIn: https://linkedin.com/company/foreprotocol/
YouTube: http://youtube.com/@foreprotocol
Fore Protocol has burned 500 moons to host this AMA.
Transaction here: https://nova-explorer.arbitrum.io/tx/0x0a658816479bb31f02c8ba62b87b2625231428aeb22542bb005d79d848211aa5
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!
I like the concept of earning rewards. I saw your website and it says you can be the bookmaker and become the house. Is your project similar to gambling in a way? You create the bets and other users bet on them?
And how do you plan on getting more users and more adoption for your project?
Thanks for burning Moons to be here.
What are key differences to Augur? It also wanted to revolutionize prediction markets & was popular once. And even with Vitalik Buterin as advisor, the project seems dead now. What makes you confident to not suffer the same fate?
Can you briefly explain the top milestones implemented by the FORE Protocol before the end of this year or in the future, how will help them succeed, and what the FORE Protocol will look like in 2023 and beyond?