Forta’s FORT Token Goes Live

Article by Forta Network Jun. 15, 2022

Forta, the leading real-time detection network for Web3 security & operational monitoring, launched the FORT Token today. A live FORT Token is a key milestone for Forta’s Permissionless Launch in its mission to monitor all transactions and protect all assets in Web3. Early contributors can now claim FORT Tokens as part of the FORT Airdrop.

With today’s public launch of the FORT token, an ERC-20 token on Ethereum mainnet (contract address: 0x41545f8b9472D758bB669ed8EaEEEcD7a9C4Ec29), the Forta Network goes permissionless. Now anyone, anywhere can participate in Forta by getting and staking FORT to operate a Scan Node or signal on a Detection Bot.

The FORT Airdrop is also live, rewarding early Forta contributors and providing the broader Web3 security community with ~4% of the total supply of FORT tokens so they can build on the Forta Network. If you’ve used Forta, contributed to a Web3 project or are an active participant in the Web3 ecosystem, you may be eligible.

Check your eligibility for the FORT Airdrop and claim your FORT tokens now.

Forta’s Permissionless Launch is an important milestone because it removes the Forta Foundation as a gatekeeper and marks the transition to the next phase of the Network – a fully permissionless network featuring cryptoeconomic incentives. FORT can be used to:

Operate a Scan Node with minimum stake to earn FORT token rewards (learn how in the Docs)
Stake FORT on Detection Bots to signal quality Bots for users (learn how in the Docs)
Participate in governance and shape the future of the Forta Network (learn how the Forta Proposal Process works here)

Forta’s vision has always been that only a decentralized, permissionless platform can be flexible and resilient enough to keep up with the pace of Web3, where every new smart contract deployed introduces new risk vectors that affect thousands of interconnected protocols and millions of users. The Permissionless Launch helps evolve Forta into a permissionless and further decentralized protocol.

The Path to Permissionless Launch

On June 5, 2022, the Permissionless Launch was overwhelmingly approved by the community of FORT token holders voting on FP-1: the first governance proposal made under the Forta Proposal Process. Over 95% of votes approved FP-1, which also delegated governance to the Forta Governance Council with participation from over 600 individual voters, early members of Forta’s Fortification Network phase. 

The Council executed the final steps approved under FP-1 and successfully removed the whitelist from the FORT token at approximately 1:30 pm (UTC) today (June 15, 2022). The Council proceeded with the Permissionless Launch despite the turbulent macroeconomic conditions, since the aim of the Permissionless Launch is to open up the ability to participate in the Forta Network to the wider community of Web3 security experts and builders, who need FORT tokens in order to participate in the key roles of the Network. 

The Permissionless Launch follows Forta’s successful Fortification Network, which scaled and stress-tested the Network with 2,000+ Scan Nodes earning 2,400,000 FORT tokens by running 650+ Detection Bots emitting real-time alerts to 8,000+ subscribers. The Forta ecosystem already extends across seven major blockchains with participants in 60+ countries across 5 continents, including the Americas, Africa, Asia and Europe.

Beyond Launch

The public launch of the FORT Token, as part of Forta’s Permissionless Launch, is not only a big milestone for the Network but also for the wider Web3 ecosystem.

Monitoring and securing the Web3 economy is a community effort — developers, investors, protocols, DeFi degens, and NFT collectors alike are needed for Forta to reach its true potential to keep Web3 safe and secure.

Forta is designed to be a public utility serving the DAO, DeFi and NFT ecosystems. This requires building an even more robust community of engineers, security professionals and infrastructure providers to develop useful Detection Bots, operate Nodes, and develop related products and services on top of or alongside Forta and to ultimately govern the network. 

The growing Forta community, now armed with FORT tokens, will continue the hard and important work of the Forta mission: to monitor all transactions and protect all assets in Web3. 

Claim your FORT Tokens now