How to Earn Rewards as a FORE Validator

Shape the future of decentralized prediction markets

This article was co-written by Aydan Arroyo and Alex Gaines of UMA.

Tldr; FORE Protocol is integrating with UMA’s Optimistic Oracle to secure their onchain prediction markets. Users can earn $FORE by validating markets. Analyst NFTs grant holders the ability to validate markets and gain exclusive access to the FORE ecosystem.

Key takeaways:

• FORE Protocol’s integration with UMA’s Optimistic Oracle enables a more robust, transparent, and community-driven approach to onchain prediction markets.
• Analyst NFT holders can earn $FORE rewards by validating prediction markets.
• Similar to UMA’s Optimistic Oracle, the process of validating and disputing markets in FORE’s ecosystem is meticulously designed to foster accuracy and fairness.

FORE Protocol has integrated with UMA’s Optimistic Oracle to secure their onchain prediction markets.

FORE’s decentralized, user-centric approach is unique. Users engage in FOREcasting a variety of events, leveraging the wisdom of crowds to predict outcomes accurately without the need for centralized entities. Users are their own “house” and engage in pure P2P market speculation. The FORE protocol leverages smart contracts and unique, community-driven mechanisms to ensure market integrity and reliability for all participants.

Amongst these mechanisms exists a unique opportunity for the UMA community — the ability to validate FORE prediction markets and earn rewards. Let’s dive in.

How FORE market validation works

Validation in FORE’s ecosystem is a multi-step process that ensures the accuracy and integrity of its markets. Validators, who are holders of Analyst NFTs, play a key role by reviewing and validating the outcomes of various market predictions based on real-world events and data. In return, validators earn $FORE rewards for their services.

This process not only ensures markets reflect true outcomes, but also includes a mechanism for dispute resolution. Validators can challenge and rectify potentially incorrect market results, thereby upholding the platform’s reliability and trustworthiness.

How to mint an Analyst NFT

In the FORE ecosystem, it is required to mint an Analyst NFT to qualify for validator status. The NFT allows validators to gain access to the validation page and verify completed markets. Analyst NFTs also grant holders with enhanced participation rights such as elevated voting power.

Additionally, Analyst NFTs serve as a symbol of credibility and commitment, distinguishing serious and knowledgeable participants in the prediction market community. Reputation is displayed as power (locked FORE) that increases over time. For the first 45 days after Mainnet launch, Analyst NFT holders will be able to level up their Analyst NFT at a much faster rate, enabling strategic validators to achieve the highest reward tier within 45 days.

How to mint your Analyst NFT:

1. Connect Your Wallet: Navigate to the FORE dapp and connect your digital wallet.

2. Navigate to Marketplace: Click on “Marketplace” located on the top left corner of the FORE Protocol interface.

3. Select ‘Mint NFT’: Under “YOUR LISTED NFTs”, select the ‘Mint NFT’ option. You’ll need to lock more than 1,000 units of FORE to mint a new NFT.

4. Confirm Transaction: Check your wallet notification and confirm the transaction to broadcast the transaction.

5. Confirm NFT in Portfolio: The newly minted NFT will appear in the NFT section of “My Portfolio”​.

Alternatively, you can buy existing Analyst NFTs from the “Marketplace” page. If you decide that you want to sell your Analyst NFT, you can do that on this page as well.

For more information on Analyst NFTs, check out the official guide here.

How to validate a market

Once you own an Analyst NFT, you will have access to the validation page to verify completed markets. Validating a market in the FORE protocol involves a series of steps:

1. Access the Analyst Section: Navigate to the FORE dapp and click on the “Analyst” tab located in the top left corner of the screen​.
2. Choose a Market to Validate: Scroll through the list of markets and select one you wish to validate by clicking ‘VALIDATE MARKET’. Note that market availability depends on specific validation periods​.
3. Validate the Market Outcome: In the Market Validation section, choose “YES” or “NO” based on the result of the market. Ensure your validation aligns with a confirmed source of results. Be aware that incorrect validations can lead to penalties on your locked FORE​.
4. Stake an Analyst NFT: Choose an Analyst NFT to stake on the validated market. If you don’t have an Analyst NFT, you’ll need to mint one first. The amount of FORE you lock determines your share of the analyst reward​.
5. Confirm the Transaction: Check your wallet notification and confirm the transaction to send it to the blockchain. This step is essential to complete the staking process​.
6. Completion and Reward Distribution: After the transaction is complete, you’ll receive a confirmation message. Once the market is validated and locked, the rewards phase will begin. This is when your rewards will be distributed proportionately to your stake in the Analyst NFT​. You can learn how to claim your rewards here.

Remember, each market requires a certain number of validations before its result is considered valid. After successful validation, analysts collect fees, participants receive rewards, and the required tokens are removed from circulation.

For more information on how to validate FORE prediction markets, check out the official guide here.

How to dispute a market

Similar to UMA’s Optimistic Oracle, disputing FORE markets involves a community-focused approach. This serves as a crucial mechanism for maintaining the integrity and accuracy of FORE’s prediction markets. The dispute process allows participants to challenge the outcome of a market if they believe it does not accurately reflect the real-world event it was supposed to predict.

When a dispute is initiated, it involves providing evidence and a rationale to support the claim. The dispute is then reviewed by the community or designated validators, who assess the evidence and decide whether the market outcome should be revised. This system ensures that the markets remain fair and trustworthy, as it provides a way to correct errors or oversights, fostering a reliable and credible trading environment.

How to dispute a FORE market:

1. Identify a Discrepancy: If you believe that a market outcome is incorrect, identify the specific issue.
2. Access the Dispute Section: Navigate to the disputed market on the FORE platform.
3. Initiate the Dispute: Click on the option to dispute the market outcome.
4. Provide Evidence and Rationale: Submit detailed evidence and a clear rationale for why you believe the market outcome is incorrect.
5. Stake Tokens: Typically, disputing a market outcome requires staking tokens as a form of collateral.
6. Dispute Resolution: Once a dispute is raised, it then needs to be checked and verified. This process is handled and secured by UMA’s decentralized Optimistic Oracle. You can learn more about how the Optimistic Oracle works here.
7. Dispute Outcome: If the dispute is successful, the market outcome may be revised, and you might receive your staked tokens back along with potential additional rewards. If unsuccessful, you may lose the staked tokens.

For more information on how to dispute FORE prediction markets, check out the official guide here.

Closing thoughts

Whether it’s validating markets, engaging with Analyst NFTs, or participating in dispute resolution, the involvement of real people in FORE is pivotal. As you embark on this journey, remember that your contributions are more than just individual actions — they are integral to building a transparent, fair, and community-driven financial ecosystem.

The future of decentralized prediction markets is in your hands. Are you ready to get started?

Learn more about UMA and FORE Protocol.