Foreon Network Introduces $FRN: A Utility Asset to Propel the Foreon Ecosystem Forward
Good day to our valued Foreon Network community!
We’re thrilled to announce that our native utility token, $FRN, is now minted on the Cardano Blockchain.
As a critical component of the Foreon Network platform, $FRN will power a range of features and functions.
Our $FRN token has a fixed monetary supply of 10 Million with six decimals, ensuring that no additional tokens will ever be minted.
To verify the token, you can check the $FRN token policy ID below.
$FRN Token Policy ID: e69eaae4740f240ba9dfffd0ed6b7cb34070efe567e2ec841e3b7562
In this article, we’ll delve into the tokenomics of Foreon Network, discussing $FRN’s utility and its distribution, as well as exploring the functional and economic mechanisms that will contribute to the token’s value appreciation.
A Snapshot of Foreon Network
Foreon Network is a decentralized prediction market where users can speculate on the outcomes of future events, generating a diverse portfolio based on their forecasts.
Foreon Network will provide an efficient alternative to traditional betting platforms notorious for high fees and accessibility issues.
Here’s how we’ve allocated the $FRN tokens, from the largest to the smallest distribution:
- Public Sale (Seed Round, Pre-Sale, & ISPO): 50% (5,000,000)
- Exchange Listing: 20% (2,000,000)
- Foreon Vault: 10% (1,000,000)
- Team: 10% (1,000,000)
- Rewards/Farming Pool: 7% (700,000)
- Advisors: 3% (300,000)
Unleashing the Power of Foreon Token
$FRN, native to the Foreon Network, is designed with multiple use-cases that are instrumental to the platform’s growth and stability.
These include staking, governance, fee payments, rewards and incentives, and liquidity provision.
To ensure sustainability and discourage abrupt market dumps, we have a vesting schedule for each $FRN token allocation as follows.
- Advisors: 3 months cliff, then 20% monthly vesting
- Rewards / Farming Pool: 3 Months cliff, then 2% emission every epoch
- Team: 6 Months Cliff, then 10% monthly vesting
- Foreon Vault: 100% locked until vault launch
- Exchange Listing: Unlocked for LP provision on Cardano Dexes
- Private Seed Round: 3 months cliff, then 25% monthly vesting
- ISPO: Locked until ISPO ends, then 10% distribution every epoch
- Pre-Sale: 50% unlocked after presale, then 20% distribution every epoch
All About the Upcoming Private Seed Round
The Foreon Network team has funded the project to this point, but to expedite development, we’re launching a private seed round.
This is an ideal opportunity for early investors to secure $FRN tokens at the best possible price.
The seed round specifics will be disclosed in an upcoming Medium post.
In the meantime, ensure you don’t miss out by whitelisting for the seed round.
Simply visit our pitch deck, provide an active email address, and you’re in!
Pitchdeck Link: https://docsend.com/view/xsevm63fdid6h435
Join us in our journey of creating an innovative, robust blockchain-based prediction market on Cardano.
Stay tuned for more updates, and thank you for being a part of our community!