What percentage of Forta (FORT) coins is held by the development team?

Forta Network's token, FORT, is distributed among the community, development fund, and ecosystem reserve to foster a vibrant ecosystem and support ongoing development.

Jan 06, 2025 at 02:12 am

Key Points

• FORT Distribution and Allocation
• Forta Team and Advisors
• FORT Token Metrics
• FORT Token Distribution Events
• FORT Community Involvement
• FORT Token Security Measures
• FORT Token Use Cases

FORT Distribution and Allocation

Forta Network employs a three-tiered distribution model for its FORT token: Community Pool, Development Fund, and Ecosystem Reserve. The allocation of FORT tokens is as follows:

• Community Pool (40%): Distributed to the community through staking rewards, grants, and airdrops.
• Development Fund (35%): Allocated to the Forta team for ongoing development, research, and marketing efforts.
• Ecosystem Reserve (25%): Designated for collaborations, partnerships, and strategic investments within the Forta ecosystem.

Forta Team and Advisors

The Forta team is comprised of industry veterans with expertise in blockchain technology, security, and network infrastructure. Key members include:

• Yoav Alon (CEO): Former Head of Risk at Celsius Network and founder of Zeppelin Solutions.
• Ran Hammer (CTO): PhD in cryptography and former Head of Security at Celo.
• Maor Bin (Head of Product): Seasoned product manager with experience in blockchain and financial technology.
• Maya Zehavi (COO): Finance and operations expert with a background in the startup and consulting industries.

The team is supported by a distinguished group of advisors, including Vitalik Buterin, Gavin Wood, and Sandeep Nailwal.

FORT Token Metrics

The FORT token, deployed on the Ethereum blockchain, adheres to the ERC-20 compliant standard. Its key metrics are summarized below:

• Token Name: Forta Network Token
• Ticker Symbol: FORT
• Total Supply: 1 billion FORT
• Decimal Places: 18

FORT Token Distribution Events

FORT token distribution commenced with a seed round in early 2023, followed by a private sale and public token sale. The distribution schedule is outlined below:

1. Seed Round:

• Distribution: 5% of total supply
• Participants: Early investors and strategic partners

2. Private Sale:

• Distribution: 20% of total supply
• Participants: Institutional investors and VC firms

3. Public Sale:

• Distribution: 5% of total supply
• Participants: Retail investors participating in token generation event

4. Token Release:

• Team Tokens: Vesting period of one year, with 25% released upfront.
• Community Pool: Released over a period of four years through community-driven activities.

FORT Community Involvement

Forta Network fosters a vibrant and engaged community on various platforms, including:

• Discord Server: Primary hub for community discussion, support, and development updates.
• Telegram Channel: Real-time updates, announcements, and community engagement.
• Twitter Presence: Official platform for news, updates, and interactions with the wider FORT community.
• Governance Forum: Participatory platform where FORT holders can propose and vote on network development decisions.

FORT Token Security Measures

Forta Network prioritizes token security through robust measures:

• Smart Contract Audits: FORT smart contracts have undergone rigorous audits by industry-leading security firms.
• Multi-Signature Custody: FORT funds are held in multi-signature wallets requiring multiple authorized signatories for transactions.
• Open Source Transparency: FORT's codebase is open source and accessible for public scrutiny and verification.

FORT Token Use Cases

The FORT token serves several essential functions within the Forta Network ecosystem:

• Stake and Govern: FORT holders can stake their tokens to earn staking rewards and participate in the network's governance.
• Reward Detectors: Developers and contributors are rewarded with FORT for creating and maintaining high-quality detectors.
• Ecosystem Investment: The FORT token can be used to participate in ecosystem investments and collaborations.
• Cross-Chain Integration: FORT may be integrated with other blockchain networks, allowing for interoperability and cross-chain collaboration.

FAQs

1. How many FORT coins are held by the development team?

The development fund holds 35% of the total FORT supply (350 million FORT).

2. How can I acquire FORT tokens?

FORT tokens can be purchased on centralized exchanges or decentralized exchanges (DEXs) supporting ERC-20 tokens.

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