With Cardano’s TVL soaring to record highs, with the total value locked across Cardano Dapps sitting at almost 600 million ADA according to Defilama as at the time of writing this article.
We have seen a couple of new Defi apps springing up on the ecosystem, but prediction markets have been a really untapped niche on Cardano.
Foreon Network, operating on Cardano’s efficient blockchain, is leading the way to becoming the first mover to build and launch on Cardano.
Foreon Network (FRN), a decentralized prediction market being built on Cardano, today announced that the Foreon NFT Bonds offering which started on the 29th of May has been 65% sold out, with less than a week to go.
Users who wish to participate in the NFT Round can participate by joining here.
Each Foreon NFT would be able to lock 12,500 $FRN tokens when the claiming starts and the NFTs have extra utilities on Foreon Network like giving the holder access to open up markets when the platform launches by the end of Q3 2023.
The Foreon Network team has also announced that the ISPO (Initial Stakepool Offering) which is on the next phase of the roadmap is scheduled to start in a few weeks time too.
Foreon Network is proposing a stellar approach to decentralized prediction markets, offering the Cardano community an innovative alternative to traditional prediction platforms that typically come with high fees and various limitations.
Foreon Network: Leveraging Cardano for a People-powered Prediction Platform
Foreon Network offers a dynamic, decentralized prediction market built on the Cardano blockchain, boasting significantly lower fees, superior scalability, and enhanced security as compared to other prediction markets currently existing on other blockchains.
Beyond this, Foreon’s decentralized architecture ensures that the control and direction of the platform rests in the hands of its users. Through this approach, Foreon is truly shaping the future of prediction markets as a global, no-limit platform.
Exciting Foreon Network Updates: NFT Bonds Offering and Upcoming ISPO
The journey thus far has been thrilling, and Foreon Network is excited to share recent developments within the Foreon Network.
Firstly, The NFT Bonds offering, which ends on the 13th of July, has already achieved 60% of its target. This achievement underscores the confidence and interest within the Cardano community.
Mint Foreon NFT
Secondly, Foreon Network is set to announce the imminent launch of the Initial Stake Pool Offering (ISPO) in a few weeks.
This ISPO presents an exciting opportunity for the Cardano community to contribute to the growth of Foreon Network and reap the rewards of their participation.
The ISPO would enable the greater Cardano community who have been unable to join the NFT Round due to the high minting Fee participate in the ISPO by staking their ADA to Foreon Network Pools and receiving $FRN tokens instead of ADA, albeit much lower that you would have gotten through the NFT round.
Conclusion
Foreon Network is committed to providing a superior, people-powered prediction market platform leveraging the power of Cardano to revolutionize the prediction market space, delivering enhanced value to the Cardano community.
Stay tuned for more updates and exciting developments ahead!
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