The Forward Ecosystem
- Forward Protocol
- Forward Factory
- Proof of Value-Delivered (PoVD)
- Proof of Value (PoV)
- Distributed Reward and Revenue Sharing (DRRS)
- Proof of Ownership (PoO)
- Initial Value Offering (IVO)
- Forward ID
- Forward Pay
- Tokens & Staking
- FORWARD (Forward Token - Utility)
- FUSD (Forward USD - Stable)
- Staking & LP Contracts
- Governance
- Forward Chain
- Forward Explorer
- Forward Bridge
- Multiple Consensus
- Forward SDK
Forward Factory has a no-code, drag-and-drop interface.
Platforms that deploy contracts through Forward Factory can set the fees (revenue model) for users on their platform, turn features on/off, modify terms/policies, and easily integrate these modifications with their business model.
The process is designed to help platforms deploy and become blockchain-ready with a much shorter lead time than it would take to develop a platform themselves.
When they register on any platform that integrates Forward Protocol, a user will create a Forward ID – a single ID that lets them automatically log in to any website that utilizes Forward Protocol. This universal ID is similar to Facebook and Google's IDs that enable automatic connection to websites and services.
By integrating Forward ID, learning apps and institutions no longer need to process their users' personal information. Forward Protocol removes this redundancy through a fast and strict KYC process to verify their identity before receiving their Forward ID. It saves cost and time that would have been wasted on complex user verification procedures.
The Forward ID is a blockchain ID that gives a user complete control over their data and the ability to share personal information on a need-to-know basis. Forward ID allows users to authenticate themselves across platforms and carry their reputation, history, credentials, and identity across apps and ecosystems.
Using Foward ID, users can add as many wallet addresses as they have as the wallet address is the identity of the decentralized space. By connecting their wallet addresses to a single Forward ID, users can monitor their progress and manage their experience across different platforms.
Forward Pay is a digital wallet that connects to a user’s Forward ID. It allows users to store, manage, swap and trade their funds/cryptocurrencies. It is connected to Fiat ramps (in and out) so that users can complete transactions using their credit cards and bank accounts.
Forward Pay uses Forward ID/username to send/receive payments, improving usability and adoption rather than using complex wallet addresses. It reduces the risk of losing funds to wrong wallet transfers, allows users to request/send payments, and aids accountability and financial transactions audit.
A user can log in to any platform integrated with Forward Protocol using Forward ID and pay for services using Forward Pay.
The native digital cryptographically-secured fungible token of Forward Protocol ($FORWARD) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Forward Protocol, and which is designed to be used solely as an interoperable utility token on the protocol/network.
$FORWARD is a functional utility token that will be used as the medium of exchange between participants on Forward Protocol in a decentralized manner. The goal of introducing $FORWARD is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Forward Protocol, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. $FORWARD does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will $FORWARD entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in any relevant jurisdiction. $FORWARD may only be utilized on Forward Protocol, and ownership of $FORWARD carries no rights, express or implied, other than the right to use $FORWARD as a means to enable usage of and interaction within Forward Protocol.
$FORWARD also functions as the economic incentives which will be distributed to encourage users to contribute to and participate in the ecosystem on Forward Protocol, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. $FORWARD is an integral and indispensable part of Forward Protocol, because without $FORWARD, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Forward Protocol. Given that additional $FORWARD will be awarded to a user based only on its actual usage, activity and contribution on Forward Protocol and/or proportionate to the frequency and volume of transactions, users of Forward Protocol and/or holders of $FORWARD which did not actively participate will not receive any $FORWARD incentives.
$FUSD is the protocol-issued stablecoin that supports stable value transfers, purchases and payments within the ecosystem.
$FUSD is pegged against other USD-based stablecoins like USDT, BUSD, and USDC in a smart contract. Users can deposit these stablecoins to mint an equal amount of FUSD to use within the ecosystem. FUSD is burnt when deposited stablecoins are removed from the smart contract. It is primarily used for the internal cross-chain liquidity to avoid holding liquidity in multiple stablecoins.
Example: Users can buy a product/course/service in the Proof of Value-Delivered contract via $FUSD, but the rewards will be in $FORWARD.
The protocol will add more stablecoins in the future as it grows. Forward Pay will help increase its adoption globally.
$FORWARD functions as membership loyalty reward points, so users will be classified into different loyalty tiers based on the amount of $FORWARD they hold and the value they delivered in the ecosystem. The premium membership tiers offer greater access to the protocol, including exclusive products, services and lower fees charged at protocol and application levels (as indicated by the deploying applications).
Examplel: Based on their $FORWARD holdings, users will be charged lower fees on smart contract transactions as long as the specified levels are maintained during the regular snapshots.
To promote decentralized community governance for the network, $FORWARD will allow holders to create and vote on on-chain governance proposals to determine future features and/or parameters of Forward Protocol (e.g., level of system fees). The right to vote is limited to voting on features of Forward Protocol; it does not entitle $FORWARD holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, or select the board of directors of these entities, or determine the development direction of these entities. It does not constitute any equity interest in any of these entities or any collective investment scheme, and the arrangement is not intended to be any form of joint venture or partnership.
Developers create and upload open-source applications of any kind and users will be able to customize them in the user-friendly UI. All of these applications will be made available for the community to plug-and-play. The users will be able to the Forward Factory, select the template of their choice, customize the UI, customize the smart contract according to their needs and deploy it on the chain of their choice.
The developers’ community is encouraged to create new applications in the open-source model to grow the blockchain revolution. Smart contract developers can contribute to the Forward Factory to extend the templates in the smart contracts library.
Last modified 3d ago