FORT is an ERC-20 token in the Ethereum network. (Address: 0x41545f8b9472D758bB669ed8EaEEEcD7a9C4Ec29)
Staking is only available in Polygon, so anyone who wants to stake needs to bridge FORT to Polygon to do so (https://wallet.polygon.technology/).
How is the FORT token used in Forta?
To ensure the accuracy and integrity of the data provided by the network, Forta adopts a work token model, where node runners must stake FORT tokens in order to broadcast real-time security and operational data to the network, and anyone may stake FORT tokens in order to signal detection bot quality in the network.
FORT has two primary uses that are indispensable to the proper functioning of the network:
- Scanner Pool Staking. Scanner pool owners must deposit FORT tokens on their pools to be discoverable in the network and to provide economic security for the work they are performing, since the staked FORT can be slashed if nodes fail to execute their assigned work or perform their work maliciously. Once FORT is staked, it may only be withdrawn subject to a thawing period, which provides ample opportunity for verification and dispute resolution. If the Pool is staked over the minimum by the pool owner, delegators may also stake on that pool, with the same withdrawal restrictions. The Delegators may face a small percentage of deduction from the stake in case the pool gets slashed.
- Detection Bot Signaling. Developers may stake FORT tokens on bots, signaling bot quality to the network and also providing a sybil resistance mechanism. Having fake or low quality bots on the network makes it harder to find the best risk detection offerings.
In addition, FORT holders can participate in governance to shape the evolution of Forta. Please read more in the governance section of the docs.
Are there any fees?
Running detection bots and subscribing to Forta alerts is free at the moment.
The total supply of FORT tokens has been capped at 1,000,000,000 FORT.
The FORT Community Allocation is held by the Forta Foundation and is not subject to a specific vesting or distribution schedule, however technological transfer restrictions enforced by the whitelist on the FORT token smart contract will remain in effect until the Permissionless Launch is achieved.
Node Runners participating in the Fortification Phase have already earned approximately 2 million FORT tokens from the Community Allocation, which will not be subject to any transfer restrictions or lock-ups at the Permissionless Launch. Similarly, FORT tokens received in the FORT airdrop will not be subject to any transfer restrictions or lock-ups, as they will be claimable concurrently with the achievement of the Permissionless Launch and can be immediately used within the Forta Network.
~2.2% of the Community Allocation has already been granted to certain members of the Forta ecosystem, including certain bot developers, strategic partners, Foundation staff, and other vendors. Although FORT token grants made by the Foundation are not required to have any vesting conditions, transfer restrictions, or lock-ups applied to them (collectively, “Restrictions”), the Foundation may still require that recipients of FORT tokens from the Community Allocation agree to certain Restrictions from time-to-time, in order to ensure alignment with the long-term best interests of the Forta community. Of the ~2.2% Allocated FORT, ~1.2% is subject to Restrictions ranging from 2 to 4 years and the other ~1% will be unlocked at Permissionless Launch and included in the Circulating Supply. For clarity, the Circulating Supply at Launch does not include Backers, Initial Core Contributors, or OpenZeppelin.
Other FORT token allocations include tokens held by Backers, Initial Core Contributors, and OpenZeppelin. All three groups are subject to transfer restrictions that are removed according to 4-year linear vesting periods with a 1-year cliff. Almost all of the FORT tokens allocated to these groups began vesting on September 1, 2021 and will be fully transferable by September 1, 2025.
The Forta Network received early support from a group of dedicated backers who not only provided funding for the development of Forta, but also became some of the earliest members of the Forta community, providing key networking and support across various functions. Backers also represented some of the first node operators in the Forta Network. Backers’ transfer restrictions are enforced through on-chain vesting smart contracts, so they are able to stake and participate in the Network before their transfer restrictions vest.
Initial Core Contributors
The Forta Network was originally developed and brought to the community by an innovative and interdisciplinary team of individuals within OpenZeppelin. 20% of the total FORT token supply has been allocated for these individuals as Initial Core Contributors and is subject to 4-year linear vesting periods with a 1-year cliff, enforced by OpenZeppelin. The earliest vesting commencement date for Initial Core Contributors’ FORT token allocations is September 1, 2021, which aligns with the transfer restrictions for the Backers.
OpenZeppelin is a leading blockchain security company that founded and incubated the Forta Network. 10% of the total FORT token supply has been allocated to OpenZeppelin and is subject to 4-year linear vesting periods with a 1-year cliff. The vesting commencement date for OpenZeppelin’s FORT token allocation is September 1, 2021.