Forward Tokenomics
$FORWARD, the native cryptocurrency of Forward Protocol is gearing up for its Token Sales on the GoForward platform along with many other prestigious launchpads. This series of IDOs highlight Forward’s growing reach and anticipated impact in the Web3 space. Each platform will provide a unique opportunity for investors and enthusiasts to participate in the growth and expansion of the $FORWARD ecosystem.
This article covers the tokenomics of $FORWARD, including its use cases.
Key Highlights of $FORWARD
$FORWARD is the utility token of the Forward ecosystem. $FORWARD is designed to serve as Forward’s utility, governance, and reward token. It’s also used to pay for the protocol services and transaction fees on the Forward Chain.
Below are more key data on $FORWARD’s allocation, distribution, and vesting plan.
Token Type: BEP-20
Ticker: $FORWARD
Total Supply: 5,000,000,000 $FORWARD
Initial Circulating Supply: 134,524,995
Initial Market Cap: $1,344,300
Fully Diluted Market Cap: $60,000,000
Public Sale Price: $0.012
$FORWARD Token Distribution
There will only be a maximum of 5 billion $FORWARD tokens in existence. However, the initial circulating supply will be 134,524,995 $FORWARD released during the token generation event (TGE).
Fundraise Allocation — 13.69%
200,000,000 $FORWARD or 4.00% of the maximum supply will be allocated to investors in the Pre-Seed Round. 187,500,000 $FORWARD, or 3.75%, will be allocated to all the investors in the Seed Round. Early community adopters will receive a 36,000,000 $FORWARD or 0.72% allocation, while KOLs have an allocation of 50,000,000 $FORWARD or 1.00%.
The Private Round investors will receive a total of 150,000,000 $FORWARD or 3% of the total supply, while 60,833,300 $FORWARD or 1.22% will be distributed to the Public (IVO & IDO) participants.
Others — 86.31%
About 263,166,700 $FORWARD, or 5.26%, has been assigned for Forward’s geographic expansion, and 180,000,000 $FORWARD, or 3.60%, for the exchange and liquidity fund.
A total of 1,000,000,000 $Forward, or 20%, goes to Forward’s Team and Advisory (700 million and 300 million tokens, respectively).
The majority of the supply — i.e., 2,872,500,000 $FORWARD or 57.45% will be allocated to the community and ecosystem.
Token Release Schedule
Vesting Period
Pre-Seed — 8% on TGE/3 months cliff/Daily Linear Unlock for 6 months after that (9 months total)
Seed — 10% on TGE/3 months cliff/Daily Linear Unlock for 3 months after that (6 months total)
Early Community Adopters — 15% on TGE/3 month cliff/Daily linear unlock for 3 months after (6 months total)
Private — 12.5% on TGE/3 months cliff/Daily Linear Unlock for 3 months after that (6 months total)
KOL — 25% on TGE/3 months cliff/Daily Linear Unlock for 3 months after that (6 months total)
Public — 15% on TGE/3 months cliff/Daily Linear Unlock for 3 months after that (6 months total)
Team — 12-month cliff/Daily Linear Release for 24 months (36 months total)
Advisors — 6 months cliff/Daily Linear Release for 12 months (18 months total)
$FORWARD Seed/Private/Public Pricing
Forward Protocol raised $3.25 million throughout the Pre-Seed, Seed, Private, and KOL rounds. A total of 187,500,000 $FORWARD was offered in the Seed round* for $0.004, while 150,000,000 $FORWARD was offered in the Private round for $0.01.
Several big-name VCs participated in the rounds, including Bitcoin.com, GDA Capital, X21, CV VC, Magnus Capital, Basics Capital, MEXC, Stakez Capital, Master Ventures, Tokenova, Marathon Capital, and many others.
For the upcoming IVO & IDOs, a total of 60,833,300 $FORWARD will be offered to the public at the price of $0.012 — i.e., a $730,000 hard cap.
Seed Price: $0.004
Private Price: $0.01
Public Price: $0.012
Please note that the seed round closed in 2021.
Forward Utility
$FORWARD is at the heart of Forward Protocol and all dApps, Blockchains and subnets deployed using Forward Factory. It is the utility token within the decentralized Forward ecosystem. Its primary role is to facilitate the ecosystem that promotes the adoption of blockchain and the decentralized applications shaping the Web3 phase of the internet.
$FORWARD plays a crucial role in the Forward ecosystem, beyond speculative purposes. It acts as the fuel that powers the Forward ecosystem, used to facilitate every form of interaction between different classes of Forward users. The token’s focus on utility gives it year-round relevance, irrespective of market cycles or sentiments.
Depending on the nature of their interactions or their role in the Forward ecosystem, developers, businesses, end-users, DAO members, etc. will always have reasons to buy, hold, or trade their $FORWARD holdings as long as they are in the Forward ecosystem.
Holding the $FORWARD token also allows users to participate, propose, and vote on-chain governance changes, determining the future features and parameters of Forward. This democratic governance model empowers the community to shape the protocol’s evolution collaboratively.
Some of the other specific uses of the $FORWARD token include:
- Pay for protocol fees and developer fees
- Pay for the validator fees
- Pay for blockchain or subnet annual fees for Forward Factory (like Runcloud)
- Pay for gas tokens on the Forward Chain and subnets
- Non-reward staking to join DAOs. For example, the Developers’ DAO who approve or decline developer submissions to the Forward Factory.
- Non-reward staking by developers to commit and deploy templates to the Forward Factory.
- Delegating responsibilities to validators.
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