Foreon Fridays: Episode 2

Hello Foreon Community!

We’re back with another exciting update on the second episode of Foreon Fridays as we continue building the future of prediction markets on @cardano!

Here’s what we’ve accomplished over the past couple of weeks:

🔗 Continued Implementation for On-Chain Matched Orders
Continuing to implement the submission of matched orders on-chain to the Cardano network, moving closer to a seamless user experience.

📊 Ongoing Data Crawling and Updating
Our team is diligently working to continuously update the crawler that retrieves order data from the Cardano network.

This ensures our platform data remains accurate and current, reflecting the latest market activities.

📈 Market Details and Analytics
We have started implementing detailed market analytics, including charts of matched prices and a comprehensive order book.

These features aim to provide our users with deeper insights into market trends and order flows.

🔧 Admin Market Resolution
We’ve implemented functionality that allows admins to manually resolve markets, providing necessary control to manage the markets effectively.

🤖 Automatic Market Resolution
Our team has completed research and is in the process of integrating an automatic market resolution system to streamline the process further.

⚙️ Technical Challenges
We encountered some technical issues related to the Cardano network’s performance, but that’s not a cause for concern as our team is actively working on optimizing these aspects to improve the efficiency and stability of our platform.

We’re excited to share these developments with you as we move closer to launching a full-fledged prediction market platform on Cardano.

Tokenomics Update

We’re excited to announce that we have a refreshed $FRN tokenomics.

Find the updated tokenomics below.

Team: 5%
Advisors: 3%
Marketing: 7%
NFT Bonds: 26%
ISPO: 4%
Vault: 9%
IDO Allocation: 15%
Farming: 23%
Liquidity: 8%

We reduced the team allocation, owing to the departure of Sven and we also increased the allocation of the Foreon NFT Bond Holders, this means that if you hold one NFT, you would now be eligible to get 25,000 $FRN tokens.

Also the increase in the token allocation also applies to the bonuses. This essentially puts the valuation at 1 $FRN = 0.4 ADA

ISPO Participants would also be getting double of their allocation, but at the valuation of 1 $FRN = 0.5 ADA

This means that ISPO participants will get roughly 374,000 FRN tokens minus the bonuses.

We have a 15% IDO Allocation which we plan to sell in two stages, the first stage would be a pre IDO round for the previously whitelisted emails, before a public round on a popular Cardano IDO platform.

More details would be shared in subsequent posts.

But all these would happen after we have released a demo of our refreshed Cardano prediction protocol on the Cardano testnet.

Thank you for your continued support and engagement!

Got questions or feedback? Feel free to reach out — We are always here to help!

Let’s keep building the future of prediction markets on Cardano together!

Keep up-to-date with Foreon Network:

Visit our official website: https://foreon.network/

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Dive into our Medium publications: https://medium.com/foreon-network

Contact us via email: beep@foreon.network