[ANN]FORESIGHT(FORS)-We Are Bringing Insurance To DeFi - page 2.

holydarkness

legendary

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Yes, I'm an asshole

Quote from: Wittycoin on September 18, 2020, 10:15:27 PM

Quote from: holydarkness on September 17, 2020, 01:53:02 PM

Got several interesting questions from reading your thread opener, first one will be: what do you meam by rewards? Like, we invested some funds and, in turn, got FORS biweekly?

Our litepaper describes the reward process clearly, so I encourage you to have a look at that in the link above.

To summarise, for locking/staking their tokens in our platform and doing services like vetting coins (underwriting) and voting on insurance claims, DAO members get:

1. FORS reward payouts every two weeks (more for Supreme DAO members). This equates to 1% of our DAO fund two weekly.
2. Weekly tickets into a lottery of 5000 FORS.
3. Reduced insurance premiums (20% off for Common DAO members, 40% off for Supreme)

Ok, after a quick reading I see the gist of it, and understand that locking FORS for said level will allows certain portion on voting and deciding insurance claims. I also understand, by some system that is yet to be revealed, the said member will not be able to vote for their own case, but will there be a system to prevent "conspiration" where someone asked his friends to allocate some funds and became a supreme member then vote for his claim? After all, you said on above post that KYC might not be needed, and even with KYC, you can't tell who befriended who, especially behind anonimity veil of crypto

Wittycoin

full member

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Quote from: TimeTeller on September 18, 2020, 04:34:29 AM

Quote from: Anonylz on September 18, 2020, 04:10:58 AM

If you do then you won't bother coming out in the fist time as anonymous team, this is one of my major criteria to determine if I will pick up an interest on a project, immediately the team remain anonymous I stayed a mile away, if bounty hunters can be requested for an identification I don't see why a project to whom I will entrust my money by means of investing will choose to remain anonymous, and the excuse of btc founder is anonymous doesn't work anymore.

We are not obliged to spend our money to them. So it is our decision if we will support them or not.
But it is not fair if they are asking for KYC from their participants, whereas, we don't know their identities.
Participants should think about the situation and not just send their docs blindly.

And just wondering, CMC is listing now new projects even if they are listed in only one exchange?
I thought the minimum is at least 2 exchanges.

the team’s reply

I agree that a project wanting KYC info should not be anonymous. Rest assured that by the time our platform goes live we will not be anonymous, but for now because of the reasons above, at least some of us will be. But some we hope to go public soon.

Regardless, it may not be necessary that any KYC is required. As long as the user making the insurance claim can confirm that they are the wallet owner (via web3 connection, for example), we may not necessarily require KYC.

About CMC, we are listed on a smaller exchange, but are due to go on a larger one next week. Stay tuned for more info. We also have details about our staking pools with Ferrum due this week along with UniFyre wallet listing.

Quote from: holydarkness on September 17, 2020, 01:53:02 PM

Got several interesting questions from reading your thread opener, first one will be: what do you meam by rewards? Like, we invested some funds and, in turn, got FORS biweekly?

Our litepaper describes the reward process clearly, so I encourage you to have a look at that in the link above.

To summarise, for locking/staking their tokens in our platform and doing services like vetting coins (underwriting) and voting on insurance claims, DAO members get:

1. FORS reward payouts every two weeks (more for Supreme DAO members). This equates to 1% of our DAO fund two weekly.
2. Weekly tickets into a lottery of 5000 FORS.
3. Reduced insurance premiums (20% off for Common DAO members, 40% off for Supreme)

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: Anonylz on September 18, 2020, 04:10:58 AM

If you do then you won't bother coming out in the fist time as anonymous team, this is one of my major criteria to determine if I will pick up an interest on a project, immediately the team remain anonymous I stayed a mile away, if bounty hunters can be requested for an identification I don't see why a project to whom I will entrust my money by means of investing will choose to remain anonymous, and the excuse of btc founder is anonymous doesn't work anymore.

We are not obliged to spend our money to them. So it is our decision if we will support them or not.
But it is not fair if they are asking for KYC from their participants, whereas, we don't know their identities.
Participants should think about the situation and not just send their docs blindly.

And just wondering, CMC is listing now new projects even if they are listed in only one exchange?
I thought the minimum is at least 2 exchanges.

Anonylz

hero member

Activity: 2562

Merit: 577

Quote from: Wittycoin on September 17, 2020, 08:01:21 PM

To all of your questions guys here is the answers from the project’s owner

“Team-related questions are one of the most common ones we get (understandably).

We're certainly very keen to go public with our identities in the near future. We’ve already done so with exchanges and legal teams we’re working with. The main issue at the moment delaying this is that a couple of the team members feel it would be a conflict of interest with their current careers. However, once they can move to working on Foresight fulltime they will likely go public. We have discussed whether some of us (likely myself and our CMO) could go public and leave the others private, and this is a very real possibility.

We are aware of the effect being private can have on a project (we're cryptocurrency investors too, after all). It is for this reason we have endeavoured to be as transparent as possible when it comes to other aspects of the project - not only answering whatever questions the community has but also locking all exchange liquidity and locking 45% of our total supply in a vesting period out to two years. In the meantime, we encourage investors to look at the partnerships we have formed (eg. DEXTools, Ferrum, DistX). We’ve had close dealings with their teams, including phone calls, so they’ve come to know us, and I don’t believe they would risk the reputation of their projects if they didn’t trust us.

A good example of this career conflict issue we heard about recently was of a friend who works for a French bank and was fired when they found her logged into Bittrex on her laptop.”

Let me know if you have more questions about it

I’m happy to ask the team about it and give you there answers. Have a good day!

If you do then you won't bother coming out in the fist time as anonymous team, this is one of my major criteria to determine if I will pick up an interest on a project, immediately the team remain anonymous I stayed a mile away, if bounty hunters can be requested for an identification I don't see why a project to whom I will entrust my money by means of investing will choose to remain anonymous, and the excuse of btc founder is anonymous doesn't work anymore.

holydarkness

legendary

Activity: 2632

Merit: 1462

Yes, I'm an asshole

Quote from: Wittycoin on September 17, 2020, 08:01:21 PM

To all of your questions guys here is the answers from the project’s owner

“Team-related questions are one of the most common ones we get (understandably).

We're certainly very keen to go public with our identities in the near future. We’ve already done so with exchanges and legal teams we’re working with. The main issue at the moment delaying this is that a couple of the team members feel it would be a conflict of interest with their current careers. However, once they can move to working on Foresight fulltime they will likely go public. We have discussed whether some of us (likely myself and our CMO) could go public and leave the others private, and this is a very real possibility.

We are aware of the effect being private can have on a project (we're cryptocurrency investors too, after all). It is for this reason we have endeavoured to be as transparent as possible when it comes to other aspects of the project - not only answering whatever questions the community has but also locking all exchange liquidity and locking 45% of our total supply in a vesting period out to two years. In the meantime, we encourage investors to look at the partnerships we have formed (eg. DEXTools, Ferrum, DistX). We’ve had close dealings with their teams, including phone calls, so they’ve come to know us, and I don’t believe they would risk the reputation of their projects if they didn’t trust us.

A good example of this career conflict issue we heard about recently was of a friend who works for a French bank and was fired when they found her logged into Bittrex on her laptop.”

Let me know if you have more questions about it

I’m happy to ask the team about it and give you there answers. Have a good day!

How many people are there on the team? And you'll only reveal team identity as whole once everyone quit their main job and joined FORE fulltime? With little to no intention to rush it, when will this happen, approximately? Weeks? Days? Months?

Also a friendly reminder that my question is still hanging

Wittycoin

full member

Activity: 696

Merit: 100

To all of your questions guys here is the answers from the project’s owner

“Team-related questions are one of the most common ones we get (understandably).

We're certainly very keen to go public with our identities in the near future. We’ve already done so with exchanges and legal teams we’re working with. The main issue at the moment delaying this is that a couple of the team members feel it would be a conflict of interest with their current careers. However, once they can move to working on Foresight fulltime they will likely go public. We have discussed whether some of us (likely myself and our CMO) could go public and leave the others private, and this is a very real possibility.

We are aware of the effect being private can have on a project (we're cryptocurrency investors too, after all). It is for this reason we have endeavoured to be as transparent as possible when it comes to other aspects of the project - not only answering whatever questions the community has but also locking all exchange liquidity and locking 45% of our total supply in a vesting period out to two years. In the meantime, we encourage investors to look at the partnerships we have formed (eg. DEXTools, Ferrum, DistX). We’ve had close dealings with their teams, including phone calls, so they’ve come to know us, and I don’t believe they would risk the reputation of their projects if they didn’t trust us.

A good example of this career conflict issue we heard about recently was of a friend who works for a French bank and was fired when they found her logged into Bittrex on her laptop.”

Let me know if you have more questions about it

I’m happy to ask the team about it and give you there answers. Have a good day!

Wittycoin

full member

Activity: 696

Merit: 100

Quote from: necromastery on September 17, 2020, 02:53:44 PM

Quote from: holydarkness on September 17, 2020, 01:53:02 PM

Got several interesting questions from reading your thread opener, first one will be: what do you meam by rewards? Like, we invested some funds and, in turn, got FORS biweekly?

Lol, sounds like a cat smell there's a fish here. We indeed need this OP answer that question, there are so many promising things like this, in the end the customer is the one who loses, maybe because of a sudden loss or some kind of error for some reason.

Hello there mate Cheesy

At the moment I’m still asking the team owner about your questions. Be right back with answers Wink

I really appreciate your beautiful discussions.

necromastery

sr. member

Activity: 1414

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Quote from: holydarkness on September 17, 2020, 01:53:02 PM

Got several interesting questions from reading your thread opener, first one will be: what do you meam by rewards? Like, we invested some funds and, in turn, got FORS biweekly?

Lol, sounds like a cat smell there's a fish here. We indeed need this OP answer that question, there are so many promising things like this, in the end the customer is the one who loses, maybe because of a sudden loss or some kind of error for some reason.

holydarkness

legendary

Activity: 2632

Merit: 1462

Yes, I'm an asshole

Got several interesting questions from reading your thread opener, first one will be: what do you meam by rewards? Like, we invested some funds and, in turn, got FORS biweekly?

Bitstar_coin

hero member

Activity: 2478

Merit: 695

SecureShift.io | Crypto-Exchange

Quote

If you purchase insurance with Foresight and are deemed to be the victim of an exit scam or fatal blockchain hack, you get your entire investment back.

I found that statement above interesting particularly because of the numerous scam project we have in the crypto industry, I think this is a huge task you are about to embark on, already there are several different exit scam cases in the Defi platforms not to mention the none Defi projects, and I see you guys are not exactly different from the other Defi projects with anonymous team, may I ask why an insurance Defi project who is about to fight the case of scam project will have all team members anonymous?

Twinkledoe

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Activity: 1904

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★Bitvest.io★ Play Plinko or Invest!

Quote from: terciduk123 on September 16, 2020, 06:36:43 PM

Interesting, the FORS token price is above the initial listing price on Uniswap. You say "Say Goodbye to Exit Scams" but why you aren't transparent with your team? You only display names with images that are not real, you also don't link them with their social media accounts.

Don't expect too much from DeFi related projects. Because believe most of them are just here for money. I don't think this project is different from scam DeFis. If they are indeed serious, they will fully disclose their team members, use real photos with corresponding profile links. We are talking about insurance here.

terciduk123

sr. member

Activity: 1176

Merit: 252

Interesting, the FORS token price is above the initial listing price on Uniswap. You say "Say Goodbye to Exit Scams" but why you aren't transparent with your team? You only display names with images that are not real, you also don't link them with their social media accounts.

Wittycoin

full member

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🚀 $FORS is #1 on coingecko's trending search!

🛡️ Foresight is your DAO governed DeFi crypto insurance.

💪 They just announced partnerships with FerrumNetwork and DistX.io.

🦄 Buy on Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xb1ec548f296270bc96b8a1b3b3c8f3f04b494215

Wittycoin

full member

Activity: 696

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Quote from: Jacob_Y on September 16, 2020, 07:36:08 AM

There are so many tokens which you can buy on Uniswap this days. FORS also no exception. DeFi projects are really popular now

Thank you for your wonderful feedbacks guys. Stay tuned on the Project.

Quote from: r_Chain on September 16, 2020, 08:50:01 AM

Foresight trying to protect users from financial losses by combining the reliability of smart contracts with the collective intelligence of a decentralized autonomous organization (DAO). I saw some projects with similar system, looks like it is good one, as it's uses our days

As the team doing their very best I believe they will reach their goal and success very soon.

r_Chain

copper member

Activity: 28

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Foresight trying to protect users from financial losses by combining the reliability of smart contracts with the collective intelligence of a decentralized autonomous organization (DAO). I saw some projects with similar system, looks like it is good one, as it's uses our days

Jacob_Y

newbie

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