How to Validate a Market
Become an analyst on FORE Predict. Learn the process of validating a market in our simple tutorial. Start your journey now.
Last updated
Become an analyst on FORE Predict. Learn the process of validating a market in our simple tutorial. Start your journey now.
Last updated
Market analysts are the protocol participants responsible for validating a market's outcome based on a reputable source of results. If a market depends on the result of a sports game, the result source may be the final score of that game as reported by a verified news outlet. Via this model, FORE indexes real-world outcomes via real-world people, creating a prediction protocol that is infinitely scalable and able to offer markets on any real-world event. Analysts collectively act as a decentralized oracle by confirming outcomes on the protocol. Analysts are given a trust score, which indicates their ability to validate and allows them to earn greater protocol validation rewards.
Disclaimer: Users must hold an analyst NFT (Validator NFTs or vNFTs) to qualify for validator (analyst) status and validate completed markets. Click to learn more.
Learn "How to Validate a Market" in a new way by watching our video tutorial - click to view it now.
Step-by-step guide on how to validate a market on FORE: Step 1: From the Fore Predict's home page (Player page), click "Analyst" or you can click the "Analyst" tab found on the top left corner of the screen (See image below).
Step 2: Scroll through the list of markets to find a market to be validated. Click ‘VALIDATE MARKET’ to verify a market.
(Please note that the current validation window is based on a specific validation period, so there may be no markets available to validate. If you’d like to test this functionality, I suggest creating a market that ends in 10 minutes. This may take a few minutes to appear under Analyst.)
Step 3: On the Market Validation section, click "YES" or "NO" depending on the result of the market. Analysts should validate a market based on a confirmed source of results.
Warning! Incorrect validation will result in a penalty to your locked FORE.
Step 5. Check your wallet notification to confirm your transaction. This indicates that you intend to send the transaction to the blockchain.
Example: In MetaMask, click ‘Confirm’ to approve your transaction.
Step 6: When the transaction is complete, you will be prompted with a confirmation message that you have successfully staked your NFT on that market.
Step 4: Choose an NFT and click ‘Stake NFT.’ If you do not have an available Analyst NFT, you must first mint one. Users must hold FORE and ETH on the Arbitrum network to proceed and must 'approve' spend before minting an NFT. Note: A user is required to "lock" more than 1,000 units of FORE, and the locked amount will determine the user's percentage portion of the analyst reward. Click here to learn .
Once a market has been verified by a user with analayst NFT, it will be locked until rewards are distributed during the rewards phase. The amount of rewards paid out to each analyst is proportional to their stake in their respective analyst NFTs. Each market requires a certain number of validations before a result may be considered valid. Once the market has been validated, analysts collect their fees, successful market participants receive their rewards, and the required tokens are removed from circulation. Click here to learn “
