Forward Protocol provides easy-to-deploy, fully customizable smart contracts to streamline the adoption of blockchain and Web 3.0, beginning from Education to E-commerce and other sectors.
On December 8, the team announced they’ve raised $1.25 million across two funding rounds, all for the development of its blockchain toolkits. Just off the news, Forward Protocol officially disclosed details and dates for the public rounds (SHO and IBO) of its native cryptocurrency, $FORWARD, which is a core part and transactional currency of Forward Chain, scheduled to debut next year.
When are Forward Protocol SHO and IBO?
The Forward Protocol Strong Holder Offering (SHO) will take place on DAO Maker, a fundraiser launchpad that acts as an intermediary between protocols and the retail investors. According to the announcement, the offering involves two rounds — Community and Merit.
The Community Round is currently live, and there will only be 50 lucky winners of $100 allocations. To participate in this round, you have to join the project socials and complete the application form. You can access the form here.
Merit round is a main public round in Forward Protocol’s SHO, where the participants sign in with their wallets for participation. It begins on December 13th, 12:00 UTC, and finishes on December 14th, 12:00 UTC.
The target raise for both rounds (Community and Merit Rounds) is $100,000.
Forward Protocol IBO details
Forward Protocol teamed with MahaDAO for Initial Blockchain Offering (IBO), begins on December 14 (precisely at 3 PM UTC) on the MahaStarter, the launchpad for the decentralized economy by MahaDAO. Interestingly, Forward Protocol enlists as the second IBO on the MahaStarter launchpad.
During IBO, each $FORWARD token will be sold at $0.005, and the target raise is $100,000 for the two rounds.
🔹 Public pool: $50,000
🔹 MAHAX pool: $50,000
The Whitelist completion and KYC validation for the offering begins from December 13th, 3 PM UTC, while the IBO begins the next day, as stated above. The token distribution date will be disclosed after the offering. Here’s a link to the IBO section on MahaStarter.
What’s the hype around Forward Protocol IBO?
Even in Forward Protocol’s community, many people are hyped about the upcoming offerings for $FORWARD. This is not surprising given the vision, team of experts, and partnerships backing Forward Protocol’s goal of lowering the entry barrier to blockchain and Web 3.0 for a value-driven economy.
Several leading blockchain projects and venture capital groups are already invested in Forward Protocol’s vision. Bitcoin.com, CV VC, AU 21 Capital, X21 and GDA Capital are only a few of the companies invested in the project.
What’s IBO and why it matters
IBO is a relatively new term that stands for Initial Blockchain Offering. $FORWARD will have its native blockchain network known as Forward Chain. Therefore, the native token – $FORWARD- is a blockchain offering, hence, the term IBO.
Blockchain tokens like $FORWARD are unarguably the next gems in the cryptocurrency market, as they have a higher chance of existing and growing in demand. Similar to Binance Coin, Ethereum, etc., $FORWARD has strong fundamentals, as it will be the fuel behind all activities on the Forward Chain, which is expected to launch in 2022.
All transactions on the chain will be processed and paid for using $FORWARD. Thus, there will be a presence of market demand for the token, even as the ecosystem grows.