What is the issuance and circulation of Forta (FORT) coins?

FORT, the native token of the Forta network, has a total supply of 1 billion, with 63% currently in circulation and versatile use cases like governance, staking, and payment within the ecosystem.

Jan 05, 2025 at 02:01 am

The Issuance and Circulation of Forta (FORT) Tokens

Key Points:

• FORT is the native token of the Forta network, a decentralized security platform for Web3 applications.
• FORT has a total supply of 1 billion tokens, with approximately 63% currently in circulation.

• FORT tokens are used for various purposes within the Forta ecosystem, including:

  • Governance: FORT holders can participate in decision-making about the future of the network.
  • Staking: FORT holders can stake their tokens to earn rewards and support the security of the network.
  • Payment: FORT can be used as a payment method for services and products within the Forta ecosystem.

Issuance of FORT Tokens

FORT tokens were initially issued through a series of private and public token sales in 2022, raising a total of $22 million. The distribution of tokens from these sales was as follows:

• Seed Round: 15% (150 million FORT)
• Private Round: 20% (200 million FORT)
• Public Sale: 10% (100 million FORT)
• Ecosystem Reserve: 30% (300 million FORT)
• Team and Advisors: 15% (150 million FORT)
• Development Fund: 10% (100 million FORT)

The remaining 25% of the total FORT supply (250 million FORT) is reserved for future issuance and distribution, subject to approval by the Forta community.

Circulation of FORT Tokens

Approximately 63% of the total FORT supply (650 million FORT) is currently in circulation. This includes:

• Tokens distributed through token sales
• Tokens acquired through staking rewards
• Tokens used for network operations and ecosystem growth

The remaining 37% of the FORT supply (350 million FORT) is held in reserve by the Forta Foundation and other entities for future issuance and distribution, as needed.

Use Cases of FORT Tokens

FORT tokens have several use cases within the Forta ecosystem:

• Governance: FORT holders can participate in governance decisions through the Forta Decentralized Autonomous Organization (DAO). This includes voting on proposals, electing delegates, and setting network parameters.
• Staking: FORT holders can stake their tokens to earn rewards and support the security of the network. Stakers are responsible for monitoring and alerting on security events and anomalies within Web3 applications.
• Payment: FORT can be used as a payment method for services and products within the Forta ecosystem, such as subscription fees for security alerts and access to exclusive data and tools.

FAQs

Q: What is the purpose of FORT tokens?
A: FORT tokens are the native tokens of the Forta network and are used for governance, staking, and payment within the ecosystem.

Q: How many FORT tokens are in circulation?
A: Approximately 63% of the total FORT supply (650 million FORT) is currently in circulation.

Q: Where can I buy FORT tokens?
A: FORT tokens can be purchased on several cryptocurrency exchanges, including Binance, Coinbase, and FTX.

Q: Can I stake FORT tokens?
A: Yes, FORT holders can stake their tokens to earn rewards and support the security of the network.

Q: What are some potential uses of FORT tokens?
A: Potential uses of FORT tokens include:

* Governance participation
* Staking for rewards
* Payment for services and products within the Forta ecosystem