Fore Protocol
  • 🌎FORE Protocol
  • πŸ—’οΈWhitepaper
    • The FORE Mission
    • Predictions Markets
      • What Are Predictions Markets?
      • Centralization: What's The Problem?
      • Decentralization: The Solution
        • Transparency
        • Market-Determined Odds
        • Zero Counterparty Risk
        • Redistribution of Fees
        • Infinitely-Scalable Oracle
    • How FORE Works
      • What is FORE Protocol?
      • Key Technology
        • Blockchain Infrastructure
        • Peer-To-Peer Technology
        • NFT Market Structure
      • Market Structure
      • Protocol Roles
        • Creators
        • Players
        • Analysts
        • Dispute Resolution
      • Protocol Lifecycle
        • Creation Phase
        • Participation Phase
        • Verification Phase
        • Dispute Phase
        • Resolution Phase
      • Payout Logic
      • Incentive Model
      • Validation Model
        • Validation Process
        • Rewards And Power
        • Reward Tiers
      • Gamification Strategy
        • Tiered NFTs
        • Leaderboards
        • Play-To-Earn Badges
    • FORE Tokenomics
      • FORE Token
      • Token Utility
      • Deflationary Dynamics
      • Supply Dynamics
      • Contract Address
    • Business Model
      • Business Revenue Model
        • Protocol Fees
        • NFT Royalties
      • Go-To-Market
        • User Acquisition
        • Target Audiences
        • Go-To-Market Strategy
          • Phase One
          • Phase Two
          • Phase Three
          • Phase Four
          • Phase Five
      • Future Solutions
        • FORE Predict
        • FORE Oracle
        • FORE Audit
        • FORE Sight
        • FORE Resource
    • The FORE Roadmap
    • Afterword
  • πŸ§‘β€πŸ’»How-to Guides
    • Guide to Getting Started
      • Add Arbitrum to Metamask
      • Purchase ETH on Arbitrum for gas fees
      • Purchase FORE to use on FORE Predict
    • How to Use FORE Predict
    • How to Connect your Wallet
    • How to Create a Market
    • How to Take a Position in a Market
    • How to Validate a Market
    • How to Vote with your Analyst NFT
    • How to Mint / Buy / Sell NFTs
    • How to Dispute A Market
    • How to Claim your FORE Rewards
    • How to View your Activity on FORE
  • πŸ€“FORE Predict Pro
    • Ultimate Analyst
      • How to become a validator
      • How to maximize your earnings
      • How to become the ultimate validator
    • Ultimate Player
      • How to become a player
      • How to maximize your earnings as a player
    • Ultimate Creator
      • How to become a market creator
      • How to market your markets
      • How to maximize your earnings as creator
  • πŸ”Access
    • Regional Restriction
    • Terms and Conditions
  • πŸ“–Documentation
    • About
    • Glossary
    • Protocol Roles
      • Creators
        • Creator NFT (mNFT)
      • Players
      • Analysts
        • Analyst NFT (vNFT)
      • Dispute Resolution
      • High Guard
      • FORE Markets
        • Market Types
        • Payout Logic
        • Protocol Rewards
    • Market Phases
      • Creation Phase
      • Participation Phase
      • Validation Phase
      • Dispute Phase
      • Resolution Phase
    • Protocol Phase
      • Player Rewards
      • Infrastructure Rewards
      • NFT Tiers
    • NFT Marketplace
    • Config
      • Protocol Config
      • Market Config
    • Developers
      • Addresses and Config
      • Smart Contracts
        • ForeMarkets (Factory)
        • ForeMarket
        • Protocol Config
        • MarketConfig
        • ForeAnalysts
        • ForeToken
      • IPFS
        • Verifier NFT Metadata Format
        • Market NFT Metadata Format
        • Market Object Format
        • Base58 <->Bytes32
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On this page
  • Intro
  • Getting vNFT
  1. Documentation
  2. Protocol Roles
  3. Analysts

Analyst NFT (vNFT)

Intro

Analyst NFT(vNFT) is an ERC721 standard token and is needed to perform verifications. All vNFT transfers and transactions must take place on the FORE Protocol Marketplace.

Each vNFT has Power represented as locked FORE tokens. The higher the Power value, the more of the market the user can verify - directly affects the level of rewards that can be earned by an Analyst (Validator).

Getting vNFT

There are two ways to obtain a vNFT:

  • Mint (Primary Market) - At the time of mint, the power is equal to the number of tokens paid. The price of a mint is set in Protocol Config.

  • Secondary Market - Purchase a vNFT that was already minted and listed on FORE Protocol's NFT Marketplace

VALIDATION PROCESS

In order for a user to verify the outcome of a market, the user must hold or mint an Analyst NFT. To validate a market, the Analyst will β€˜vote’ their NFT on an outcome, at which point the NFT is sent to the market contract address and the NFT will be locked until the reward phase. The total power required for market verification is determined by the total market size (sideA + sideB predicted).

REWARDS AND POWER

Rewards are provided for correct verification of markets. The reward is provided as additional power. Additional power cannot be bought, it can only be earned. Additional power can be withdrawn in the form of FORE tokens (which will reduce the power). The user cannot pay for the original power (power at mint). Analysts are rewarded in proportion to the power provided within their respective NFTs. Penalties for inaccurate validations also exist asymmetrically to guide user behavior. If the analyst makes an incorrect verification, the value of their NFT is reduced by 50%. A second incorrect verification will result in a subsequent 50% reduction. A third incorrect validation will result in the NFT being burned. All the accumulated FORE is released and divided between the dispute creator and high guard as a negative incentive for faulty validation is created as a result of inaccurate validation.

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Last updated 1 year ago

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