BancorDAO Whitelist Proposal: Forward Protocol (FWD)

BancorDAO Whitelist Proposal: Forward Protocol (FORWARD)

TL;DR

  • Proposal to whitelist FORWARD (Forward Token)
  • Forward Protocol is a blockchain-based learning ecosystem.
  • The proposed co-investment is 5000 BNT to incentivize liquidity.
  • There are no apparent security concerns that would prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the Forward Protocol project.
  • Forward Protocol has a partnership with Polygon
  • The benefits for Bancor is clear

Project’s Website: ForwardProtocol.io

The Project

Forward Protocol is a decentralized knowledge protocol that allows learners and experts to connect in a decentralized manner.

  • Encompasses a decentralized reward system to incentivize the transfer of knowledge, connecting experts and learners globally
  • Our “earn as you learn” model works by rewarding participation and motivating excellence, motivating students who want to finish their courses and learn new skills or knowledge.
  • The escrow system Smart Contracts - built to motivate and reward participants - will be the moderator of our protocol.
  • We have a decentralized education marketplace and a job marketplace that will be a gateway for millions of users to enter the blockchain ecosystem. It will welcome learners and experts from all fields, boosting the opportunities for everyone involved.

The protocol can be integrated with any crypto or legacy platform that wants to make use of our smart contracts, further expanding our possible reach.

Whitepaper: Whitepaper.ForwardProtocol.io
Litepaper: Litepaper.ForwrdProtocol.io

How does Forward Protocol work?

Forward Protocol aims to solve the problem of connecting a billion learners with experts through a self-actualizing structure that allows learners to access a world-class education.

  • Our users are fundamental to the design, functionality, and implementation of the protocol.
  • Forward Protocol leverages some of the best features of blockchain technology to provide a feasible solution, making it easier for anybody to participate in the global education economy.
  • Forward Protocol can be deployed in any EVM (Ethereum Virtual Machine) compatible blockchain, such as Binance Smart Chain (BSC); as a matter of fact, it has already been deployed on Polygon. It utilizes its full potential on the Ethereum blockchain because it is the most decentralized blockchain after Bitcoin, with a healthy population within its ecosystem.

The five core smart contracts are:

  1. Proof of Value- Delivered - deals with the movement of money between experts and learners. It enables payment and special incentive systems.

  2. Proof of Value - evaluates online educational content like questions, answers, or blog posts. The smart contract rewards publishers based on the community’s feedback (upvotes, comments, shares, etc.) purely using the ad revenue generated on the page and rewards by the users who loved it.

  3. Distributed Reward/Revenue Sharing - provides rewards to everybody who contributed to the growth journey of a learner.

  4. Proof of Ownership - protects the intellectual property of course material, content, assets, and much more with NFTs.

  5. Initial Knowledge Offering (IKO) - helps experts raise funds to create educational material with zero risks for both the expert and the learner but ensures the experts are rewarded for their time and effort before actually creating the course.

By incentivizing and customizing the learning experience, we achieve:

  • Minimal course dropout rates
  • Connecting learners to the best experts that they need
  • Igniting students’ passion for learning and increases successful course completion and skill acquisition
  • Bringing quality experts and passionate learners together in an incentivized framework win which every participant is duly rewarded

Tokenomics

Forward Protocol encompasses two tokens: FUSD (Forward USD) - a stablecoin that will be pegged to other stablecoins- and FORWARD (Forward Token) - our utility token. Users will be able to use fiat and crypto to purchase courses. As part of our “earn as you learn” model, all the incentives on our platform are given out in FORWARD tokens. The Forward token (FORWARD) was invented as a motivational and reward token. It is distributed to achieve and support Forward Protocol’s goal of excellence.

FORWARD tokens will be distributed to users who complete their courses, thus helping them overcome the hurdles associated with online courses and low completion rates. Experts, instructors, and mentors are rewarded with FORWARD tokens for educational content (such as courses that they offer) or for other forms of assistance, such as answering questions or providing individual or group lessons. These tokens can be converted into other cryptocurrencies, fiat currencies, or used to purchase other services on the Forward Protocol, such as applying for jobs on the Forward Protocol job marketplace.

Forward Protocol will include a price oracle – an algorithmic economic modeling engine that sustains the FORWARD token and the FUSD token prices. The oracle assists in the value appreciation of the FORWARD token under various conditions of supply and demand for the token.

Community & Communication

Forward Protocol is active on:

The Forward Protocol team, advisors, and partners are present on our website and/or medium. Mitch Rankin, a true visionary, an inspiring leading figure, and Karnika E. Yashwant, a blockchain marketing heavyweight champion with KEY Difference Media and a Token Sale expert who has raised more than 550M, are the co-founders of the project and its prominent spokespeople.

E-mail Address: danae@forwardprotocol.io

Partners & Backers

We have a partnership with Polygon:

  • The first deployment of Forward Protocol will be on Polygon. Polygon solves the high gas fee problem that is crucial for a project like Forward Protocol that aims to enable millions of transactions per day.
  • Polygon and Forward Protocol are two ground-breaking projects that can push the limits of what can be achieved by incorporating blockchain technology into the learning ecosystem and refashion knowledge transfer as we know it.

Benefits for Bancor

  • Giving FORWARD owners access to deeper liquidity via the Bancor Network will allow Bancor to tap into a unique protocol in the education niche that will allow its token holders (FORWARD holders) to essentially safeguard their productive asset from IL with Bancor’s Impermanent Loss protection mechanism.
  • Forward Protocol is connected with most of the top educational brands via English Forward. English Forward is a 19-year-old Q&A community-driven platform for learning English as a second language with more than 310 million users throughout its existence. This translates into a massive influx of users for Bancor and a venture into uncharted territory, i.e.online education, and digital learning.
1 Like

Is FWD not yet on coinmarket cap?

Can you share links to any audits?

Thank you for getting back to us!

FORWARD is not on CoinMarketCap yet, but we will share it once it’s live there.

The audits are ongoing as we speak and we will share them once they are completed. That is the reason why we posted in the draft section.

Is there anything else you might need from us?

Hello !
Thank you for brining this forward, as far as what is most needed it would defineatly be the audits and the contract address. Here is the Checklist more or less for the technicals :

Other than that distribution is a big player, the tokens should be well distributed.

Once the Audits are through and the Contract is up I’ll be more than happy to vote for it, cheers !