Foreon Network Development Update: Edition 7

We’re thrilled to bring you the latest edition of our development update as we continue to forge ahead on our mission to revolutionize prediction markets on the Cardano blockchain.

One of our key focuses for this year is expanding our development team.

And to that effect, we added two new talents to our team, seasoned Cardano developers who have worked with couple of prominent Cardano projects, bringing fresh perspectives and expertise to our project. We also had one of our earliest investors joining our team and we also onboarded a dedicated moderator.

With their skills and experience, we’re confident in our ability to tackle complex challenges and push the boundaries of innovation within the Cardano ecosystem.

Expansion Plans

But we’re not stopping there. In the coming weeks, we’re planning to onboard more creatives to further strengthen our team.

These new additions will bring diverse skill sets and perspectives, enabling us to accelerate development and deliver even more value to our community.

Streamlining Community Management

In addition to expanding our development team, we’ve also recognized the importance of effective community management.

That’s why we’ve onboarded a dedicated moderator to help streamline communication, resolve issues, and foster a positive and engaging environment within our community.

If you have been on our discord, you must have noticed him, are you yet to join our discord, you can do so here.

By providing dedicated support and assistance to our users, we’re committed to ensuring that everyone in our community has a seamless experience when interacting Foreon Network social communities.

In addition, we’re excited to share some significant technical developments and enhancements that will further elevate the Foreon Network ecosystem.

Improvements to Market Creation

Currently, markets can only be created via a Discord Channel.

Creating markets on Foreon Network is about to get even easier as Our team is hard at work developing a user-friendly graphic UI for market creation, making it simpler than ever for users to participate in our prediction markets.

In addition to the UI enhancements, we’re addressing issues related to transaction fees and failures during market creation.

Our goal is to ensure a seamless experience for users, eliminating any barriers or obstacles that may arise during the process.

Transaction Management

Transaction management is a critical aspect of our platform, and we’re committed to resolving any issues that may arise.

Our team is actively working to address issues related to failed transactions and transaction cancellations, particularly those that affect subsequent actions within the platform.

We’re also focusing on ensuring that the claim functionality works seamlessly after the question is resolved, allowing users to claim their rewards without any hiccups.

UI Enhancements

Polishing the user interface is a top priority for us as we strive to provide the best possible experience for our users.

We’re making enhancements to various UI elements to improve user experience and clarity throughout the platform.

One key area of focus is improving error notifications to provide more detailed information to users. We’re also adding custom messages instead of generic errors on the testnet to provide clearer guidance and support.

Market Management

Managing markets effectively is essential for the success of our platform.

To that end, we will be implementing platform fees for transactions to ensure the sustainability of the Foreon Network ecosystem.

We’re also integrating NFT functionality for the creation of markets, unlocking new possibilities and opportunities for our users.

Additionally, we’re developing sorting mechanisms for markets, including marking expired questions and sorting them to the back, streamlining the user experience.

Access Permissions

Granting access to “foreon-marketmaker-manager” to all Foreon NFT holders is another important step we’re taking to empower our community and enhance platform functionality.

Decentralized Oracle Development *very crucial for main-net launch*

We’re actively exploring solutions for decentralizing the Oracle to prevent single points of failure.

This is a critical aspect of our development efforts, and we’re committed to finding innovative solutions to ensure the reliability and security of our platform.

Additional Suggestions

In addition to the aforementioned developments, we’re also working on enhancing UI elements such as wallet interaction and market navigation.

We’re implementing countdown timers or set end times for markets to improve user experience and clarity.

Improving error messages to provide clearer guidance to users during various scenarios is also a priority.

Finally, we’re ensuring the simplicity and user-friendliness of the testnet platform, making it accessible to users of all experience levels.

As we continue to make progress on these developments, we’re grateful for the ongoing support and feedback from our community.

Together, we’re building the future of prediction markets on Cardano.

Stay tuned for more exciting updates as we draw close to our TGE, and thank you for being a part of the Foreon Network journey.

Warm regards,

The Foreon Network Team