Press Release

Foreon Network Triumphs at EMURGO/DoraHacks Hackathon, Unveils Initial Stake Pool Offering (ISPO) Set To Start August 28th

One Of Cardano Blockchain’s Brightest Star, Foreon Network, Announces a Transformative Initial Stakepool Offering (ISPO) Set for Launch on August 28th 2023

News Desk · Aug. 21, 2023 at 2:00 pm UTC · 2 min read
Foreon Network Triumphs at EMURGO/DoraHacks Hackathon, Unveils Initial Stake Pool Offering (ISPO) Set To Start August 28th

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Fresh from securing second place at the illustrious Cardano EMURGO BUILD 2023 Hackathon, Foreon Network, the revolutionary decentralized prediction market built on the Cardano blockchain, is ecstatic to spotlight its next groundbreaking initiative — the launch of its Initial Stakepool Offering (ISPO).

The Dazzling Hackathon Journey

The Cardano EMURGO BUILD 2023 Hackathon, co-hosted with DoraHacks, showcased the best and brightest of Cardano’s Web3 universe, offering a staggering prize pool of up to $2 million. Foreon Network’s remarkable performance solidified its position as one of the most promising projects in the Cardano ecosystem.

Inside the Foreon Network ISPO

Slated for Epoch 433, commencing 28th of August 2023, Foreon Network’s ISPO is an innovative, Cardano-exclusive fundraising venture. Here’s a closer look:

  • The How: ADA holders participate by delegating their staking power to Foreon’s pool.
  • The Reward: In lieu of standard ADA staking rewards, participants receive FRN tokens, Foreon Network’s native utility token, proportional to their staked amount.
  • How Much Rewards?: A delegator staking 2,000 ADA with Foreon’s ISPO pool stands to earn 1 $FRN reward per epoch.
  • The Duration: The ISPO continues until all 2,500,000 $FRN tokens reserved for the ISPO have been claimed.

More Than Just a Token

The $FRN isn’t merely a reward — it’s a passport to Foreon’s robust ecosystem:

  • Pay with $FRN: Use FRN tokens to settle fees on Foreon’s cutting-edge prediction platform.
  • Stake for More: In future, users will be able to stake their $FRN tokens to earn additional rewards.

A Landmark for Foreon and Cardano Alike

Foreon Network aims to attract over $15 million in Cardano stakes through its ISPO, ushering in a new era for Cardano-based project financing.

Foreon Network’s Vibrant Journey Ahead

The ISPO is both a fundraising innovation and a pivotal marker on Foreon Network’s extensive roadmap. It follows the successful unveiling of Foreon NFTs, available on Jpg.store, and sets the stage for the upcoming launch of an incentivized testnet.

To learn more about Foreon Network, visit the official website or join the vibrant community on Discord.

About Foreon Network

Foreon Network is redefining predictive markets. This forward-thinking platform lets users speculate on future events, crafting portfolios based on predictions and reaping returns from their forecasting prowess.

Tired of traditional prediction platforms with sky-high fees and unforgiving restrictions?

Foreon Network, leveraging Cardano’s advanced smart contracts, is the answer, promising a transparent, trustless environment to forecast and profit.

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