2023: Foreon Network Year In Review

Looking back at 2023, it’s been a pivotal year for us at Foreon Network. In the wake of an impending bear market, we remained undeterred, focusing on our daunting journey of building the first decentralized prediction market on Cardano.

The year 2023 was about deep dedication and resilience, we announced Foreon Network to the world via a post on our medium blog,

We initially opted to write the smart contracts in Haskell, after which we had to pivot and decided to build with Aiken.

Foreon Network’s haskell codebase

We were one of the first Cardano projects to build using the new Aiken language on Cardano, with help from the good guys at Txpipe, we poured our energy into actualizing our vision: building something much better than Polymarket, but on Cardano.

We concluded the NFT Bonds Offering, selling out 100 NFTs and giving us the much needed funding to bring our idea to life.

You can find the Foreon NFTs on Jpg.store

(Each NFT is eligible to claim 12,500 FRN tokens when claiming opens.)

We had some challenges on the way but journey isn’t just about overcoming challenges, but also about seizing the opportunity to innovate and grow.

We’ve seen remarkable results that we’re incredibly proud of. Here’s a snapshot of the key milestones and achievements Foreon Network has realized in the past year:

Talk is cheap, Let’s show the data

2023 was about laying a strong foundation building the Foreon Network protocol while at the same time growing our community.

Here’s a closer look at our key statistics and achievements:

Development Progress

Foreon Network Smart Contract Completed (Written Purely In Aiken)
Smart Contract Integrated With The Frontend (Couple Of Bugs To Fix)
Launched The Initial Closed Beta Of Foreon Network
Over 5 Markets Created Already on Our Beta Testnet

Foreon Network testnet

Foreon Network Socials

Foreon Network Twitter: 3363 followers
Foreon Network Discord: 769 community members
Foreon Network Telegram: 322 members

Foreon Network Pioneering An Era On Decentralized Prediction Markets On Cardano

Foreon Network is an innovative decentralized platform for predictions, which enables users to leverage their Foreon NFT Chip to open markets and make predictions on forthcoming events using ADA.

By utilizing Cardano smart contracts, the platform guarantees a seamless, transparent, and trustless system for predictions and settlements, all without requiring intermediaries.

This groundbreaking approach has many use cases and applications In the real world. Foreon Network is not just a technological advancement; it’s a movement towards a more equitable and transparent prediction market.

In 2023, we saw an explosion in new projects launching on Cardano. Projects like Foreon Network, Snek, CardanoGPT, Dexhunter are one of the numerous projects that we saw build and launch on Cardano the past year.

In March, we introduced Foreon Network through a medium post.

April marked an important point in the project as we launched the Foreon network website and also kicked off the development of Foreon Network. We also had our first twitter AMA with CardanoDaily in April.

May was a very busy month for Foreon Network as we Introduced the Team, kicked off the ambassadorship program, had more twitter spaces, introduced the $FRN utility token and also Partnered with NMKR to launch our first NFT bonds offering.

June was a relatively quiet month as we had more twitter spaces, got featured on CardanoSpot and also expanded our core development team.

In July, we sold out the 100 Foreon NFTs which is a further testament of the community support and we also partnered with CardanoGPT to build and deploy the first AI Telegram Moderation Bot.

We launched the ISPO in August, came as second runner up in the Emurgo / Dorahacks Hackathon.

In September, we wrapped up the development of the Foreon Network Smart contracts in Aiken.

We had a relatively slow October due to some unforeseen challenges, but we were able to integrate the smart contract with the MVP prototype.

November saw the launch of Version 0.1 of Foreon Network on the Cardano testnet, this is our first version, functional but maybe annoying to use, but that’s how amazing products are built as we will keep tweaking and making changes until fully perfected.

Behind the scenes, we have been diligently researching on the potential use cases of prediction markets other than Predicting or some would say Gambling, this involves looking at our competitors on other Blockchains.

Lastly, and most importantly, a heartfelt thank you to all our community members.

Thank you for your support over the past 10 months and your belief in us fuels our journey. We are confident and committed to achieving even more in this exciting field.

Looking Ahead…

2024 is poised to be a remarkable year for Foreon Network, a time for us to truly flourish and make a significant impact in the predictions market.

With the Crypto market becoming increasingly bullish and our unwavering focus on building, we are at a pivotal point in our journey.

We are currently rounding off and poised to deploy the ISPO dashboard for delegators in our Foreon Stake pool to see how much Foreon tokens they are eligible to earn after the ISPO ends.

Foreon Network ISPO Calculator

The Foreon NFT Dashboard is also in development where Foreon NFT holders would be able to input their asset ID and be able to see when they would be able to claim their Foreon tokens.